Maxwell Engineering, HGS India among 4 SME IPOs to open on October 30; issues to raise Rs 201 crore

ETMarkets.com

Four SME IPOs hit the primary market on Friday. Check their issue sizes, investment requirements and listing schedules.

Of the four offerings, two will be listed on the NSE SME platform, while the remaining two will debut on the BSE SME platform. All four IPOs will remain open for subscription until November 3, with the allotment expected to be finalised on November 4. The tentative listing date for all four issues is November 6.

Here's a look at the issue size, price band, lot size and other key details of the four SME IPOs.

Maxwell Engineering Solutions IPO

Maxwell Engineering Solutions is launching a book-built IPO worth Rs 57.64 crore. The issue comprises an entirely fresh issue of 36.48 lakh shares, with no offer-for-sale component. The IPO will open for subscription on October 30 and close on November 3. The allotment is expected to be finalised on November 4, while the shares are tentatively scheduled to list on the NSE SME platform on November 6.

The company has fixed the price band at Rs 150-158 per share. The lot size is 800 shares, while the minimum retail application requires 1,600 shares, translating into an investment of Rs 2,52,800 at the upper end of the price band.

JDA Capital Services Ltd. is the book-running lead manager, while KFin Technologies Ltd. is the registrar to the issue.

HGS (India) IPO

HGS (India) is looking to raise Rs 34.56 crore through its book-built IPO. The issue comprises a fresh issue of 23.26 lakh shares worth Rs 27.91 crore and an offer for sale (OFS) of 5.54 lakh shares aggregating Rs 6.65 crore. The IPO will open on October 30 and close on November 3. The basis of allotment is expected to be announced on November 4, and the company is scheduled to list on the NSE SME platform on November 6.

HGS (India) has fixed its price band at Rs 114-120 per share, with a lot size of 1,200 shares. Retail investors will need to apply for a minimum of two lots, or 2,400 shares, requiring an investment of Rs 2,88,000 at the upper price band.

Hem Securities Ltd. is the book-running lead manager, while KFin Technologies Ltd. is the registrar to the issue.

Vectras Enprocon IPO

Vectras Enprocon is launching a book-built IPO worth Rs 53.05 crore. The issue consists of a fresh issue of 40.56 lakh shares aggregating Rs 42.59 crore and an OFS of 9.96 lakh shares worth Rs 10.46 crore. The public issue will open on October 30 and close on November 3. The allotment is expected to be finalised on November 4, followed by a tentative listing on the BSE SME platform on November 6.

The company has set the price band at Rs 99-105 per share, with a lot size of 1,200 shares. Retail investors must apply for at least two lots, or 2,400 shares, requiring an investment of Rs 2,52,000 at the upper end of the price band.

Beeline Capital Advisors Pvt. Ltd. is the book-running lead manager, while MUFG Intime India Pvt. Ltd. is the registrar to the issue.

Johnsoncab Electricals IPO

Johnsoncab Electricals is aiming to raise Rs 56.02 crore through its book-built IPO. The issue is entirely a fresh issue of 28.01 lakh shares, with no OFS component. The IPO will open for subscription on October 30 and close on November 3. The allotment is expected to be finalised on November 4, while the shares are tentatively scheduled to list on the BSE SME platform on November 6.

Johnsoncab Electricals has fixed its price band at Rs 190-200 per share, with a lot size of 600 shares. Retail investors will need to apply for a minimum of two lots, or 1,200 shares, requiring an investment of Rs 2,40,000 at the upper price band.

ISK Advisors Pvt. Ltd. is the book-running lead manager, while Maashitla Securities Pvt. Ltd. is the registrar to the issue.