The primary market continues to march on with six new public offers, including the mainboard issue of BLS E-Services, set to be launched next week. Apart from the new IPOs, the Street will also see as many as 10 new listings. In the SME segment, about 5 companies are planning to bring their issues next week.

As expected by many analysts, there could be a flurry of IPOs in the next two months before a brief pause for general elections.

Currently, there are 25 draft offer documents, filed by various companies, under process with the market regulator Sebi. Nearly 30 companies have already received a green signal from the regulator, aimed at raising over Rs 30,000 crore. Meanwhile, about 40 other companies have submitted their DRHPs for approval.

Here are brief details about the IPOs next week:

In the mainboard segment, BLS E-Services IPO will open for subscription on January 30 and will close on February 1. The IPO is entirely a fresh equity issue of 2.3 crore shares.

The company has fixed a price band in the range of Rs 129-135 and investors can bid for 108 shares in one lot and in multiples thereafter.

About 75% of the offer is reserved for qualified institutional buyers, 10% for retail investors and 15% for non-institutional investors.The company proposes to utilise net proceeds from the fresh issue for strengthening its technology infrastructure to develop new capabilities and for consolidating its existing platforms, to fund initiatives for organic growth by setting up of BLS stores, to achieve inorganic growth through acquisitions and general corporate purposes.

BLS E-Services, a subsidiary of BLS International, runs a web-enabled services portal to access various services provided by the government and service partners. The company claims to provide end-to-end integrated solutions to various services availed through this portal.

Further, two companies — Nova Agritech and Epack Durables — are gearing up to list their shares after successful IPOs that hit the Street last week.

The shares of Epack Durables will debut on January 30 and Nova Agritech will get listed on January 31. Both the IPOs were subscribed 16.7 times and 109 times, respectively.

SME segment

Five companies — Mayank Cattle, Harshdeep Hortico, Baweja Studios, Gabriel Pet Straps and Megatherm Induction — are set to bring their public offerings in the SME segment next week.

Four of the five IPOs, barring that of Gabriel Pet Straps, will open on January 29. The issue of Gabriel Pet Straps will kick off from January 31.

Baweja Studio’s Rs 97-crore IPO is the biggest of the lot as the company plans a fresh issue of 54 lakh shares at Rs 180 apiece.

Megatherm’s Rs 54-crore public offer is the second biggest SME IPO of the week, closely followed by Harshdeep Hortico and Mayank Cattle, which are planning to mop up Rs 19 crore.

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