4 SME IPOs to list today; Bench Mark Infotech Services, Himalayan Solar among highly subscribed issues

Four SME IPOs - Dudani Retail, Sai Urja Indo Ventures, Himalayan Solar and Bench Mark Infotech Services - are set to make their stock market debut today. Collectively, the four public issues raised around Rs 146 crore.

While Dudani Retail and Sai Urja Indo Ventures are scheduled to list on the BSE SME platform, Himalayan Solar and Bench Mark Infotech Services will make their debut on the NSE SME platform.

Among the four, Himalayan Solar had the largest issue size at Rs 68.03 crore, followed by Bench Mark Infotech Services at Rs 42.44 crore. Bench Mark Infotech Services witnessed the highest overall subscription, with the issue subscribed more than 100 times.

Dudani Retail IPO

The Dudani Retail IPO was a fixed-price issue worth Rs 10.54 crore and comprised entirely a fresh issue of 36.36 lakh shares.

The issue was subscribed 1.42 times overall. The individual investors' portion was subscribed 2.31 times, while the NII category saw subscription of 0.52 times. The QIB subscription was not disclosed.

The company had fixed the issue price at Rs 29 per share, with a lot size of 4,000 shares. Retail investors were required to apply for at least two lots, or 8,000 shares, involving a minimum investment of Rs 2.32 lakh. HNI investors had to apply for a minimum of three lots, or 12,000 shares, requiring an investment of Rs 3.48 lakh.

The IPO opened for subscription on September 25 and closed on September 29. The basis of allotment was finalised on September 30, and the shares are scheduled to list on the BSE SME platform today.

Finshore Management Services Ltd. is the book-running lead manager to the issue, while Maashitla Securities Pvt. Ltd. is the registrar.

Sai Urja Indo Ventures IPO

The Sai Urja Indo Ventures IPO was a book-built issue worth Rs 24.95 crore. It comprised a fresh issue of 18.29 lakh shares aggregating to Rs 20.67 crore and an offer for sale (OFS) of 3.79 lakh shares worth Rs 4.28 crore.

The IPO was subscribed 3.50 times overall. The issue opened on September 25 and closed on September 29, with allotment finalised on September 30. The shares are scheduled to list on the BSE SME platform today.

The price band was fixed at Rs 107-113 per share, with a lot size of 1,200 shares. Retail investors were required to bid for a minimum of two lots, or 2,400 shares, involving an investment of Rs 2.71 lakh at the upper price band. The minimum HNI application was for three lots, or 3,600 shares, requiring an investment of Rs 4.07 lakh.

Shannon Advisors Pvt. Ltd. is the book-running lead manager, while Maashitla Securities Pvt. Ltd. is the registrar.

Himalayan Solar IPO

The Himalayan Solar IPO was the largest among the four issues, with a total issue size of Rs 68.03 crore. The book-built issue comprised a fresh issue of 58.91 lakh shares aggregating to Rs 60.68 crore and an OFS of 7.14 lakh shares worth Rs 7.35 crore.

The issue was subscribed 1.19 times overall. The individual investors' portion was subscribed 1.26 times, while the QIB (ex-anchor) and NII categories were subscribed 1.66 times and 0.94 times, respectively.

The IPO was open for subscription from September 25 to September 29, with allotment finalised on September 30. The shares are scheduled to list on the NSE SME platform today.

The price band was fixed at Rs 98-103 per share, with a lot size of 1,200 shares. Retail investors were required to apply for a minimum of two lots, or 2,400 shares, involving an investment of Rs 2.47 lakh at the upper price band. The minimum HNI application was for three lots, or 3,600 shares, requiring an investment of Rs 3.71 lakh.

Finshore Management Services Ltd. is the book-running lead manager, while Maashitla Securities Pvt. Ltd. is the registrar.

Bench Mark Infotech Services IPO

The Bench Mark Infotech Services IPO was a book-built issue worth Rs 42.44 crore, making it the second-largest among the four SME IPOs. It comprised a fresh issue of 34 lakh shares aggregating to Rs 37.40 crore and an OFS of 4.58 lakh shares worth Rs 5.04 crore.

The issue received a strong response from investors and was subscribed 103.12 times overall. The individual investors' portion was subscribed 96.90 times, while the QIB (ex-anchor) and NII categories were subscribed 88.62 times and 136.92 times, respectively.

The IPO opened on September 25 and closed on September 29, with allotment finalised on September 30. The shares are scheduled to list on the NSE SME platform today.

The price band was fixed at Rs 104-110 per share, with a lot size of 1,200 shares. Retail investors were required to bid for a minimum of two lots, or 2,400 shares, involving an investment of Rs 2.64 lakh at the upper price band. The minimum HNI application was for three lots, or 3,600 shares, requiring an investment of Rs 3.96 lakh.

GYR Capital Advisors Pvt. Ltd. is the book-running lead manager, while KFin Technologies Ltd. is the registrar to the issue.

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