Like the mainboard, the SME segment was also flush with new public offers, with one closing on Thursday, while three others will remain open until March 11.
The public issue of Pune E-Stock Broking, which will be listed on the BSE SME platform, opened today, and received an overwhelming response on Day 1, as it was subscribed 6.7 times.This was on the back of a strong response from investors across the spectrum. Qualified institutional buyers bid for 5.49 million shares against 7,82,400 shares on offer. High networth individuals bid for 2.74 million shares, against 1.28 million shares on offer. Retail frenzy was unprecedented, as they bid for 15.4 million shares, against 1.37 shares on offer.

Pune E-Stock Broking’s IPO will remain open until March 12. It plans to raise Rs 38.23 crore via IPO, and fixed the price band at Rs 78 to Rs 83, with a market lot of 1600 shares.

Ongoing Issues

Sona Machinery

Sona Machinery, whose public issue will close for subscription today, has received cumulative bids of 4.99 crore shares from qualified institutional buyers. Of this, nearly half of the bids have come from foreign institutional investors, data on the National Stock Exchange showed.

The response from non-institutional investors was stronger than QIBs, as they placed bids for 14.4 crore shares. However, the response from retail investors was the strongest, as they bid for 22.3 crore shares.

Sona Machinery, which will be listed on the NSE Emerge platform, plans to raise Rs 51.82 crore via IPO. The company fixed the price band for the issue at Rs 136 to Rs 143 a share, with a market lot of 1,000 shares.

Sona Machinery is a diversified agro-processing equipment manufacturer, manufacturing equipment for the processing of rice, pulses, wheat, spices, Barnyard Millet, etc.

Koura Fine Diamond Jewellery

Koura Fine Diamond, whose offer opened for subscription on March 6, saw a muted response from QIBs, as they bid for 36,000 shares so far, data on the BSE showed. The issue will remain open until March 11.

While high networth individuals bid for 13 million shares, retail investors have placed bids for 72 million shares.

Koura Fine Diamond is a BSE SME IPO, which plans to raise Rs 5.50 crore via IPO. The company fixed an issue price for the IPO at Rs 55, with a market lot of 2000 shares.

Shree Karni Fabcom

The IPO of Shree Karni Fabcom also opened for subscription on March 6 and will close on March 11.

The issue received a strong response from retail investors, while it was relatively muted from HNIs and institutional investors. The portion set aside for qualified institutional buyers, received bids for 2,28,600 shares, according to data on the NSE. While HNIs bid for 7.9 million shares, retail investors bid for 44.8 million shares.

The company plans to raise Rs 42.49 crore via IPO, and the price band is fixed at Rs 220 to Rs 227 a share, with a market lot of 600 shares.

Shree Karni Fabcom is engaged in the manufacturing of technical textiles tailored for diverse industries such as luggage, medical arch support, chairs, shoes, and apparel.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)