September is a key turning point for the Indian stock market. Quite a few public issues from the Small and Medium Enterprise segment have lined up to hit the market in the first week, with more likely on the way. However, knowing the company’s background before investing is necessary to make informed decisions. Tracking may prove challenging with so many new and upcoming Initial Public Offerings.
However, this guide gives you critical information about public issues, their background, dates, etc. Here are the details:
Virtuoso Optoelectronics Limited
This IPO is open from September 2 to September 7, 2022. First established in the year 2015, Virtuoso Optoelectronics is an entity that’s involved in the business of manufacturing and assembling a wide range of products, including consumer durable goods. The products in the company’s portfolio include LED lighting, air conditioners, and water heaters.
The company is looking to raise around Rs. 30.24 crore by issuing 54,00,000 Equity shares to the public. The price is Rs. 56 per Equity share, listed on the Bombay Stock Exchange’s SME platform.
Tamilnad Mercantile Bank Limited
Formed in 1921, the Tamilnad Mercantile Bank is a private sector banking institution. It offers its customers and Micro, Small, and Medium Enterprises a range of banking and financial products and services. Through this new and upcoming IPO, the bank plans to issue around 1,58,40,000 Equity shares to the public.
The price band is at Rs. 500 to Rs. 525 per Equity share, making the total issue size around Rs. 831.60 crore. The expected dates are September 5 to September 7, 2022.
Viviana Power Tech Limited
Incorporated in 2014, Viviana Power Tech is a company involved in power transmission and distribution. It is also in the business of Engineering, Procurement, and Construction for industrial space projects. The company plans to issue around 16,00,000 Equity shares to the public through their latest IPO. Since the price per equity share is Rs. 55, the total issue size is around Rs. 8.80 crore. The expected dates are between September 5 to September 8, 2022.
Infurnia Holdings Limited
Established in 2014, Infurnia Holdings is in the business of developing software for interior design and architecture. This company’s upcoming Initial Public Offerings will be worth around Rs. 38.20 crore, launching between September 6 and September 9, 2022. The entity is planning to issue 3,82,00,000 Equity shares at a per share price of around Rs. 10 on the Bombay Stock Exchange’s dedicated SME platform.
Mega Flex Plastics Limited
Established in 2003, Mega Flex Plastics is in the business of producing Leno Bags used for storing and packaging agricultural products like vegetables. It plans to issue as many as 28,50,000 Equity shares for sale. The total issue size of this Initial Public Offering aggregates up to Rs. 11.40 crore. The price per share set by the company is Rs. 40. It is open from September 6 to September 9, 2022.
