Two SME IPOs to hit capital markets next week

NEW DELHI: Two companies will come out with initial share sale next week to raise over Rs 33 crore and get listed on small and medium enterprises platform of the stock exchanges.

Proceeds of the issues would be utilised for working capital requirements and repayment of loans among others.

Ghushine Fintrrade Ocean Ltd's initial public offering ( IPO) will begin on April 25 and close on April 27, while that of Bajaj Healthcare will open for subscription from April 27 till May 2.

Shares of these companies would get listed on BSE's dedicated SME platform, as per the information available with the exchange.

As per the draft papers, Ghushine Fintrrade Ocean plans to raise Rs 2.6 crore, while Bajaj Healthcare intends to garner Rs 30.89 crore.

Since the beginning of 2015, about 14 SMEs got listed on on the capital markets with public issues worth about Rs 98 crore.

BSE and the National Stock Exchange (NSE) had launched SME platforms in March 2012, becoming the only two bourses to offer such a segment in the country.

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