Two SME IPOs to hit capital markets next week

Two companies will come out with initial share sale next week to raise over Rs 33 crore and get listed on small and medium enterprises platform of the stock exchanges.
Proceeds of the issues would be utilised for working capital requirements and repayment of loans among others.
Ghushine Fintrrade Ocean Ltd's initial public offering (IPO) will begin on April 25 and close on April 27, while that of Bajaj Healthcare will open for subscription from April 27 till May 2.
Shares of these companies would get listed on BSE's dedicated SME platform, as per the information available with the exchange.

As per the draft papers, Ghushine Fintrrade Ocean plans to raise Rs 2.6 crore, while Bajaj Healthcare intends to garner Rs 30.89 crore.
Since the beginning of 2015, about 14 SMEs got listed on on the capital markets with public issues worth about Rs 98 crore.

BSE and the National Stock Exchange (NSE) had launched SME platforms in March 2012, becoming the only two bourses to offer such a segment in the country.
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Leading electrical consumer products maker Havells India Ltd today said the company and its promoter group are in no way connected with HPL Electric & Power Ltd.

According to HPL Electric, whose IPO opened today, Havell's Pvt Ltd and Havells Electronics Pvt Ltd are promoters of the company.
In a public announcement, Havells India said the company, "promoters and members of our promoter group are in no way connected and/or associated with HPL Electric and Power Ltd, Havell's Pvt Ltd, Havells Electronics Pvt Ltd, its directors, promoters and members of its promoter group".
Havells India also cited the "liberty granted by the Delhi High Court" in the suit filed by it against inter-alia HPL Electric.
"Any person dealing and/or investing in the said IPO, on the mistaken belief of our linkage/association, with HPL Electric & Power Ltd... Shall be doing so at their own risk, costs and consequences arising therefrom," it noted.