The primary market is expected to take a breather in the upcoming week, following a busy month of December, as no new issues are set to open. However, seven new small and medium-sized enterprise (SME) companies are poised to make their stock market debut in the coming week.

Two SME issues, Kay Cee Energy & Infra Ltd and Kaushalya Logistics Ltd, which opened last week, will remain open for bidding.

In the previous week, six companies were listed in the Indian equity market, including Muthoot Microfin, Suraj Real Estate Developers, Motisons Jewellers, Credo Brands, Happy Forgings, RBZ Jewellers, and Azad Engineering. These companies collectively raised ₹3,910 crore, with subscription figures ranging between 12 and 173 times.

The year 2023 has seen a surge in initial public offerings (IPOs), featuring 173 small and medium-sized enterprise (SME) listings and 52 mainboard listings so far. The market has witnessed remarkable debuts and substantial subscription numbers across various IPOs.

Venkatraghavan S., Managing Director of Investment Banking at Equirus, expressed optimism about the IPO market in 2024, anticipating a significant number of initial public offerings. He cited expectations of GDP growth, the India manufacturing narrative, and the recent performance of the ruling dispensation in state elections as factors contributing to the positive outlook for IPOs in the coming year.

IPOs open next week

1. Kay Cee Energy & Infra Ltd

Kay Cee Energy & Infra IPO bidding opened for subscription on December 28, 2023 and will close on January 2, 2024. It is a book-built issue of ₹15.93 crores and is entirely a fresh issue of 29.5 lakh shares.

The company has set the price band at ₹51 to ₹54 per share, with a face value of ₹10 per share. The allotment for the SME IPO is expected to be finalized on Wednesday, January 3, 2024 and the tentative listing date fixed as Friday, January 5, 2024.

2. Kaushalya Logistics Ltd

Kaushalya Logistics IPO bidding opened for subscription on December 29, 2023 and will close on January 3, 2024.  It is a book-built issue of ₹36.60 crores and a combination of fresh issue of 33.8 lakh shares aggregating to ₹25.35 crores and offer for sale of 15 lakh shares aggregating to ₹11.25 crores.

The company has set the price band at ₹71 to ₹75 per share, with a face value of ₹10 per share. The allotment for the issue is expected to be finalized on Thursday, January 4, 2024 with tentative listing date fixed as Monday, January 8, 2024.

New Listings 

1. Kay Cee Energy & Ltd – The allotment for the SME IPO is expected to be finalized on Wednesday, January 3, 2024 and the tentative listing date fixed as Friday, January 5, 2024.
2. Shri Balaji Valve Components – The allotment for the Balaji Valve Components IPO is expected to be finalized on Monday, January 1, 2024. The issue is likely to list on BSE SME with tentative listing date fixed as Wednesday, January 3, 2024
3. Manoj Ceramic Ltd – The allotment for the MCPL IPO is expected to be finalized on Monday, January 1, 2024. The issue will list on BSE SME with tentative listing date fixed as Wednesday, January 3, 2024.
4. HRH Next Services Ltd – The allotment for the HRH Next Services IPO is expected to be finalized on Monday, January 1, 2024. The IPO will list on NSE SME with a tentative listing date fixed as Wednesday, January 3, 2024.
5. Akanksha Power and Infra Ltd – The allotment for the Akanksha Power and Infrastructure IPO is expected to be finalized on Monday, January 1, 2024. The IPO will list on NSE SME with a tentative listing date fixed as Wednesday, January 3, 2024.
6. Sameera Agro and Infra Ltd – The allotment for Sameera Agro IPO was finalized on Thursday, December 28, 2023. The IPO will list on NSE SME with a tentative listing date fixed as Monday, January 1, 2024. 
7. AIK Pipes and Polymers – The allotment for AIK Pipes And Polymers IPO was finalized on Friday, December 29, 2023. AIK Pipes And Polymers IPO will list on BSE SME with tentative listing date fixed as Tuesday, January 2, 2024.