Upcoming IPOs in May: Krishca Strapping IPO, Remus Pharma IPO to hit Dalal Street in May
3 min read 14 May 2023, 05:29 PM ISTThe biggest IPO so far this year was the Mankind Pharma IPO worth ₹4,300 crore. The public issue made a stellar debut on the stock exchanges with the shares listing at ₹1,300 apiece, a 20% premium to the issue price.
PremiumThe primary market in India has remained dull so far in 2023 but has shown resilience amid the global uncertainty. A total of six companies have raised a little more than ₹9,000 crore via initial public offerings (IPO) this year so far.
As per a report by EY India, the total fundraising in the IPO market during Q1 2023 declined 89% YoY to $107 million.
The biggest IPO so far this year was the Mankind Pharma IPO worth ₹4,300 crore. The public issue made a stellar debut on the stock exchanges with the shares listing at ₹1,300 apiece, a 20% premium to the issue price.
The successful listing of Mankind Pharma IPO is likely to boost retail investors’ sentiment in the IPO market, which has been lukewarm for quite a time. Analysts also believe that this has provided opportunities for other companies to hit the street.
Also Read: Mankind’s impressive listing may revive retail interest in IPOs
In the month of May so far, the primary market has seen one mainboard IPO sailing through. The ₹3,200 crore worth Nexus Select Trust IPO, India’s first retail REIT issue, was subscribed 5.45 times during May 9 - 11. After the closure of Nexus Select Trust IPO subscription, shares of the company are available at a premium of ₹5 per share in the grey market. The shares will be listed on the bourses on May 19.
Meanwhile, in the SME segment, 38 companies raised $82 million through IPOs during Q1 2023 as compared to 31 IPOs in Q1 2022 raising $37 million.
While no mainboard IPOs are scheduled going ahead in May, there are a number of SME IPOs that will hit the market. Here’s a list of upcoming IPOs in May 2023.
Krishca Strapping Solutions
Krishca Strapping Solutions, strapping tools manufacturer, will launch its IPO on May 16, 2023, aiming to raise ₹17.93 crore. The shares of the company will be listed on the NSE EMERGE platform. The issue will close on May 19, 2023.
Krishca Strapping Solutions IPO consists of a fresh issue of 33.20 lakh equity shares of ₹10 each. The company has fixed the price band for the issue of ₹51 - ₹54, making the issue size of the IPO at ₹16.42 crore - ₹17.93 crore. The market lot size is 2,000 equity shares.
The company will utilise the net proceeds from the IPO to fund capital expenditure for setting up of new strapping lines and repayment of certain secured borrowing.
Remus Pharmaceuticals Ltd
Remus Pharmaceuticals Ltd IPO will open for subscription on May 17 and close on May 19. The total issue size is ₹3,88,000 shares of ₹10 each. The price band for the public issue has been set at ₹1,150 - 1,229 per share, taking the issue size to ₹47.69 crore.
Investors can make a minimum application for 100 shares and in multiples thereof. The shares of Remus Pharmaceuticals will be listed on NSE SME Emerge platform.
Crayons Advertising IPO
Crayons Advertising, an Integrated marketing and communications agency, will launch its IPO on May 22. Crayons Advertising IPO, which will close on May 25, comprises a fresh issue of 6,430,000 shares of ₹10 each.
The company is yet to announce the price band for the issue. The share allotment will take place on May 30 and the shares will be listed on June 2 on NSE SME Emerge.
The company plans to utilize the fresh issue proceeds to fund its working capital requirements, capital expenditure on infrastructure and cutting-edge technology for expansion and general corporate expenses, as per the draft IPO papers.
