Two SME IPOs from HEC Infra Projects and Wealth First Portfolio Managers to hit capital market next week

NEW DELHI: Riding on upbeat market sentiment, two companies will come out with initial share sale next week to raise about Rs 14 crore and get listed on the NSE's small and medium enterprises platform.

HEC Infra Projects and Wealth First Portfolio Managers will launch their initial public offers (IPOs) on March 10, and closing on March 18.

Shares of these companies will be listed on NSE's SME platform EMERGE as per the prospectus filed with capital market regulator Sebi.

As per the draft papers, HEC Infra Projects plans to mop-up Rs 5.39 crore and Wealth First intends to mobilise Rs 8.4 crore.

Proceeds of the issues would be utilised for expansion, working capital requirements and for other general corporate purposes.

BSE and National Stock Exchange (NSE) had launched their SME platforms in March 2012.

The platforms provide opportunity to SME entrepreneurs to raise equity capital for growth and expansion.