2 new SME IPOs to watch out for this week
What's the story
The primary market will see the launch of two new initial public offerings (IPOs) this week. Both the IPOs are from the small and medium-sized enterprises (SME) sector.
Apart from the launches, investors should also watch out for 10 upcoming listings on the Dalal Street.
The mainboard segment will see debuts from Quality Power, Ajax Engineering, and Hexaware Technologies.
First launch
HP Telecom India's IPO to open on February 20
The first IPO to open this week is from HP Telecom India, which is set to open on February 20.
The company has fixed a price band of ₹108 per share for its public offer.
The offer includes a dedicated fresh equity sale of 34.23 crore shares by existing shareholders, without any OFS component.
HP Telecom India is the sole distributor of Apple products in many key regions of the country.
Portfolio diversification
HP Telecom India's distribution portfolio
While Apple products dominate HP Telecom India's distribution portfolio, the company also distributes select other brands to reach a wider customer base.
Interactive Financial Services is the book-running lead manager for this IPO, while Bigshare Services is the registrar.
The shares from this public offer will be listed on the NSE SME platform.
Second launch
Beezaasan Explotech to launch ₹60cr IPO
The second SME IPO hitting the market this week is from Beezaasan Explotech. The company aims to raise ₹60 crore via its public offer, which has a price band of ₹165-175 per share.
This IPO is a fresh equity sale of 34.24 lakh shares, and retail investors can bid for a minimum lot of 800 shares.
The net proceeds will be utilized for various purposes including funding capital expenditure, purchasing plant and machinery, repaying debt, and general corporate purposes.