IPO This Week: Shares of Ramdevbaba Solvent may be listed at Rs 106 with a premium of 24.71 percent. At the same time, Grill Splendor shares can be listed at Rs 128 with a premium of 6.67 percent.
IPO This Week: There will not be much activity in the primary market this week. Because no new IPO is going to come in the mainstream segment for the second consecutive week. However, a debt-ridden telecom company has announced plans to launch its Rs 18,000 crore FPO next week. At the same time, two IPOs are going to be launched in the SME segment. These are the IPOs of Ramdevbaba Solvent and Grill Splendor Services. Apart from these two IPOs, shares of Tirtha Gopicon and DGC Cables and Wires are also going to be listed on the stock exchanges this week.
Ramdevbaba Solvent IPO
The SME IPO of Ramdevbaba Solvent will open for subscription on April 15 and close on April 18. The company plans to raise Rs 50.2 crore through an IPO and list the shares on the NSE SME platform. This IPO is a fresh equity issue of 59.13 lakh shares. The price band is Rs 80-85 per share. About 50% of the IPO is reserved for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.
Ramdevbaba Solvent is in the business of manufacturing, distribution, marketing and sales of physically refined rice bran oil. The company manufactures rice bran oil and sells it to other companies including FMCG companies. Choice Capital Advisors is the book-running lead manager of the IPO. While BigShare Services is the registrar to the issue. Listing of the shares on stock exchanges is expected to take place on April 23. In the gray market, the company’s shares were seen trading at a premium of Rs 21 compared to the issue price of Rs 85. In this way, this share can be listed on the stock exchanges at Rs 106 with a premium of 24.71 percent.
Grill Splendor Services IPO
The Rs 16.5 crore IPO of Grill Splendor Services will also start from April 15. The issue, which is entirely a fresh equity sale of 13.72 lakh shares, will close on April 18. The company has set a price band of Rs 120 per share, where investors can bid for 1,200 shares in one lot. About 50% of this IPO is reserved for retail investors and the remaining 50% for other investors.
Grill Splendor Services is a chain of gourmet bakeries and patisseries spread across Mumbai through 17 retail stores, a centralized production facility and several corporate clients. Of these 17 retail stores, 5 are running under the franchise model (owned by the franchisee and operated by the company) and the remaining 12 stores are company owned. Venture Merchant Banker Services is acting as the sole book-running lead manager for the IPO and BigShare Services is the registrar. The company’s shares are seen trading at a premium of Rs 8 against the issue price of Rs 120. In this way, this share can be listed on the stock exchanges at Rs 128 with a premium of 6.67 percent.
