The SME IPO segment saw a busy session on Tuesday, with Vama Wovenfab, Shakti Polytarp and Quanto Agroworld making their D-Street debuts. All three stocks opened largely flat against their respective issue prices.
Vama Wovenfab shares opened at Rs 341 apiece on the BSE SME platform, unchanged from the IPO price.
Shakti Polytarp also made a muted debut, listing at Rs 58.90 apiece, marginally below its issue price of Rs 59.
Quanto Agroworld listed at Rs 66.99 apiece on the BSE SME platform, nearly in line with its IPO price of Rs 67.
Ahead of the listings, grey market activity remained mixed. Shakti Polytarp was commanding a GMP of 10%, while Vama Wovenfab was trading at a 1% premium. Quanto Agroworld, meanwhile, had no GMP in the grey market ahead of its debut.
Collectively, the three SME IPOs have raised more than Rs 107 crore, although they differ in terms of issue size, pricing and investor ticket size. Vama Wovenfab has the largest issue of the three at Rs 49.54 crore, followed by Quanto Agroworld at Rs 31.02 crore and Shakti Polytarp at Rs 26.93 crore.
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Vama Wovenfab IPO
The Vama Wovenfab IPO is a Rs 49.54 crore issue, comprising an entirely fresh issue of 14.53 lakh shares. The price band was fixed at Rs 324–Rs 341 per share, with a lot size of 400 shares.
For retail investors, the minimum application was 800 shares, translating into an investment of Rs 2,72,800 at the upper end of the price band.
The IPO opened on September 15 and closed on September 17. The company is scheduled to make its BSE SME debut on September 22.
Gretex Corporate Services Ltd. served as the book-running lead manager, while Maashitla Securities Pvt. Ltd. acted as the registrar.
Vama Wovenfab was commanding a GMP of 1%, or Rs 3, in the grey market. At the upper price band of Rs 341, the estimated listing price based on the latest GMP works out to around Rs 344 per share.
Shakti Polytarp IPO
The Shakti Polytarp IPO is a Rs 26.93 crore issue, comprising an entirely fresh issue of 45.64 lakh shares. The company had fixed the price band at Rs 56–Rs 59 per share, with a lot size of 2,000 shares.
Retail investors needed to bid for at least 4,000 shares, taking the minimum investment to Rs 2,36,000 at the upper end of the price band. For HNI investors, the minimum application was three lots, or 6,000 shares, requiring an investment of Rs 3,54,000.
The IPO opened on September 15 and closed on September 17. The company is scheduled to list on the BSE SME platform on September 22.
NEXGEN Financial Solutions Pvt. Ltd. served as the book-running lead manager, while Skyline Financial Services Pvt. Ltd. acted as the registrar.
Shakti Polytarp was commanding a 10% GMP in the grey market. Based on the upper price band of Rs 59, this indicates an estimated listing price of around Rs 65 per share.
Quanto Agroworld IPO
The Quanto Agroworld IPO is a Rs 31.02 crore fixed-price issue, comprising an entirely fresh issue of 46.30 lakh shares. The final issue price was fixed at Rs 67 per share.
The lot size is 2,000 shares, while retail investors must apply for a minimum of 4,000 shares. At the issue price of Rs 67, this translates into a minimum investment of Rs 2,68,000.
Quanto Agroworld's IPO opened on September 15 and closed on September 17. The company is scheduled to make its BSE SME debut on September 22.
Sobhagya Capital Options Pvt. Ltd. served as the book-running lead manager, while MUFG Intime India Pvt. Ltd. acted as the registrar.
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Quanto Agroworld was showing no GMP in the grey market ahead of its listing.
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