2 IPOs to open for public subscription this week: Key things to know
1 min read . Updated: 19 Mar 2023, 02:08 PM IST
Premium- The three-day initial share sale of Maiden Forgings will open on 22 March and close on 24 March, while the three-day IPO of Udayshivakumar Infra would conclude on 23 March
The initial public offerings (IPOs) of Maiden Forgings and Udayshivakumar Infra Ltd will open for public subscription this week on 22 March and 20 March, respectively. The three-day initial share sale of Maiden Forgings will open on 22 March and close on 24 March, while the three-day IPO of Udayshivakumar Infra would conclude on 23 March.
IPOs this week -
Maiden Forgings: Out of the total 37,84,000 equity shares on offer, not more than 17,97,000 equity shares have been reserved for Qualified Institutional Buyers (QIB). A total of 5,39,100 shares have been reserved for Non-Institutional Investors (NII) and the rest for retail individual investors.
Nishant Garg, Managing Director, Maiden Forgings Limited, said, "This IPO will enable us to achieve our long-term objectives of developing specialty steel for import substitution in India and expanding into new export markets while delivering superior quality products to our customers."
The book running lead manager to the issue is Share India Capital Services Private Limited and the registrar to the issue is Maashitla Securities Private Limited, the statement said.
Udayshivakumar Infra: The IPO consists of fresh issue of equity shares aggregating to ₹66 crore.
Proceeds of the issue will be used to fund incremental working capital requirements and general corporate purposes.
"With the Nifty down by around 10 per cent from the peak and underperforming other markets in 2023, the sentiments have turned negative. This is not a favourable time for IPOs, however, attractively priced IPOs will attract investors," VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
Udayshivakumar Infra is in the business of construction of roads. It bids for roads, bridges, canals, and industrial area construction projects in Karnataka, including government departments.
Shares of the company will be listed on the BSE and National Stock Exchange (NSE).
With agency inputs
