The primary market will end the fiscal 2024 with a bang with as many as 13 IPOs scheduled to be launched next week. Of these, 12 will be in the SME segment, along with a sole mainboard issue of SRM Contractors.

Apart from the new issues, the Street will also see one listing of Chatha Foods on March 27.

Analysts expect the IPO momentum to persist in the coming financial year as well, with larger deals on the horizon.

Investors are keen to capitalize on the stock market ahead of the general election, and there’s a positive sentiment towards fundamentally good businesses along with robust business models.

“The factors expected to sustain the buoyancy of the IPO market in FY2025 include increased domestic capital, improved governance, thriving Indian entrepreneurship, favourable government policies with FDI support, and diligent institutional investors,” said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors.

Also Read: Ashish Kacholia-backed Radiowalla Network announces IPO dates, price band. Check detailsHere’s all you need to know about IPO market next week:

SRM Contractors IPO

The initial public offering (IPO) of SRM Contractors will open for subscription on March 26 and close on March 28. The company has fixed a price band of Rs 200-210 per share.

Investors can bid for 70 shares in one lot in the public offer, through which, the company plans to raise around Rs 130 crore.

The issue is being made through the book-building process, wherein 50% of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors and 35% for retail investors.

Net proceeds from the public offer will be used for funding capital expenditure for the purchase of equipment, for full or part repayment of debt, for investment in joint ventures, to meet working capital requirements and for general corporate purposes.

SRM Contractors is an engineering construction and development company engaged primarily in the construction of roads (including bridges), tunnels, slope stabilisation works and other miscellaneous civil construction activities in the union territories of Jammu and Kashmir and Ladakh.

In FY23, the company’s revenue from operations increased 13% to Rs 300 crore, while profit after tax rose 7% to Rs 18.74 crore. For the nine months ended December 2023, revenues stood at Rs 242 crore and PAT came in at Rs 20.17 crore.

Interactive Financial Services is the sole book-running lead manager for the IPO and Bigshare Services is the registrar.

SME segment

In the SME segment, 12 companies are looking to access public markets. A couple of them boast of the backing of marquee investors like Ashish Kacholia and Vijay Kedia.

The resumption after a long weekend, which is March 26, will see 5 SME IPOs of Aspure and Innovative Advertising, GConnect Logitech and Supply Chain, Blue Pebble, Vruddhi Engineering and Trust Fintech.

On March 27, Vijay Kedia-backed Tac Infosec and Ashish Kacholia-backed Radiowalla Network will launch their issues.

While Tac Infosec is planning to raise around Rs 30 crore through its public offer, Radiowalla Network will mop up about Rs 14.25 crore.

About 4 IPOs, including that of K2 Infragen, Jay Kailash, Creative Graphics and Aluwind Architectural will open for subscription on March 28.

Among these 12 IPOs, Creative Graphics’ issue is the biggest of the lot with an issue size of around Rs 54.4 crore, closely followed by Yash Optics and Lens, which is planning to raise Rs 53 crore.