Investors can look forward to two SME IPOs that are set to open on August 1, 2023, namely Oriana Power and Vinsys IT Services India.
Both companies will list on the NSE Emerge platform. Vinsys IT Services India aims to raise Rs 49.84 crore through its IPO, while Oriana Power intends to raise Rs 59.64 crore.
Vinsys IT Services India IPO Details:
Pune-based IT and software services company, Vinsys IT Services India, has set a price band of Rs 121-128 for its IPO.
The subscription for the issue will begin on August 1, 2023, and conclude on August 4, 2023.
The IPO will involve the issuance of 38.94 lakh equity shares through a book-building process. The company aims to raise Rs 49.84 crore through the public offer.
Beeline Capital Advisors will serve as the merchant banker, while Link Intime India will act as the registrar to the issue.
The IPO proceeds will be utilized to meet working capital requirements, repay subsidiary company loans, and cover general corporate expenses.
Oriana Power IPO Details:
Noida-based Oriana Power Limited’s IPO is scheduled to open for subscription on August 1, 2023, and close on August 3, 2023.
For anchor investors, the subscription will open a day earlier on July 31, 2023. The company has fixed a price band of Rs 115-118 for the IPO.
The offering will include 50.55 lakh equity shares to be offered through the book-building route, aiming to raise Rs 59.64 crore.
Out of the total issue size, 24.00 lakh shares (including Rs. 14.40 lakh to anchor investors) are allotted to Qualified Institutional Buyers, 7.20 lakh shares to Non-Institutional Investors, and 16.80 lakh shares are reserved for retail investors.
Corporate Capital Ventures Private Limited is the Lead Manager to the Issue, and Skyline Financial Services Private Limited is the Registrar to the Issue.