IPOs this week: Saroja Pharma IPO to Basilic Fly Studio IPO - three issues open; details here

IPOs this week: There have been about 13 Small and medium-sized enterprises (SME) initial public offering (IPOs) launched so far in August. Excellent subscriptions and listings in the main board as well as SME IPOs were witnessed in the primary market. With only one day left in August, the SME IPO sector doesn't appear to leave any day empty .This week further sees the debut of three SME IPOs.

Let's take a look at the companies that are opening for subscription this week.

Saroja Pharma Industries IPO

Saroja Pharma Industries IPO will open for subscription on Thursday, 31 August, and close on Tuesday, 5 September. The company has set the IPO's price band at ₹84 per equity share and the share will be listed on the NSE SME exchange Wednesday, September 13.

Saroja Pharma IPO, which is worth ₹9.11 crore, is completely a fresh issue; there is no offer for sale (OFS) component. The company plans to use the net proceeds from the offering to fund the following goals, such as setting up of manufacturing unit, to repay debt, to meet public issue expenses.

The Saroja Pharma Industries IPO share allotment will take place on Friday, 8 September. Those allotted shares will get them in their Demat accounts on Tuesday, 12 September. The refund process for those who did not get shares will begin on Monday, 11 September.

Pramara Promotions IPO

Pramara Promotions IPO will open for subscription on Friday, 1 September, and close on Tuesday, 5 September. The company has set the IPO's price band at ₹63 per equity share and the share will be listed on the NSE SME exchange Wednesday, September 13.

Pramara Promotions IPO, which is worth ₹15.27 crore, is completely a fresh issue; there is no offer for sale (OFS) component. The company plans to use the net proceeds from the offering to fund the following goals, such as to fund working capital requirements and meet general corporate purposes.

The Pramara Promotions IPO share allotment will take place on Friday, 8 September. Those allotted shares will get them in their Demat accounts on Tuesday, 12 September. The refund process for those who did not get shares will begin on Monday, 11 September.

Basilic Fly Studio IPO

Basilic Fly Studio IPO will open for subscription on Friday, 1 September, and close on Tuesday, 5 September. The company has set the IPO's price band at ₹92 to ₹97 per equity share and the share will be listed on the NSE SME exchange Wednesday, September 13.

Basilic Fly Studio IPO, which is worth ₹66.35 crore, consists of fresh issue of 6,240,000 shares that aggregates to ₹60.53 crores ,and offer for sale of 600,000 shares of ₹10, which totals to ₹5.82 crores. The company intends to use the net proceeds from the offering to pay for the following objectives, including the establishment of studios and facilities in Salem and Hyderabad as well as the addition of infrastructure to the company's current offices in Chennai and Pune.

Making investments through equity in the subsidiaries for general corporate purposes, issue costs, and workspace development by acquiring new office space in London as well as upgrading the current facilities/offices in Vancouver. Basilic Fly Studio IPO lot size is 1,200 shares.

The Basilic Fly Studio IPO share allotment will take place on Friday, 8 September. Those allotted shares will get them in their Demat accounts on Tuesday, 12 September. The refund process for those who did not get shares will begin on Monday, 11 September.

Basilic Fly Studio IPO GMP today or grey market premium on Wednesday is +150 similar to the previous two trading sessions. This indicates Basilic Fly Studio share price were trading at a premium of ₹150 in the grey market on Wednesday, according to topsharebrokers.com

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Basilic Fly Studio share price is ₹247 apiece, which is 154.64% higher than the IPO price of ₹97.

Also Read: Ratnaveer Precision Engineering IPO opens next week: GMP, price band, dates and other details to know