2 SME IPOs to hit capital markets next week

To tap upbeat investor sentiment, two small and medium enterprises (SMEs), Akash Infra Projects and RMC Switchgears, will come out with their initial public offerings (IPOs) next week to raise about Rs 30 crore. 

This is in addition to five SMEs that have already hit the capital markets this month. 

According to draft papers, Akash Infra Projects plans to mop up Rs 25.5 crore through IPO, which will be open to public subscription between February 28 and March 6. 

RMC Switchgears is expected to garner Rs 4.15 crore through the public issue. The IPO will open on February 28 and close on March