GREENCHEF APPLIANCES IPO
3 SME IPOs list today; investors make up to 40% return on first day
The IPO comprised fresh equity issue of up to 46.99 lakh equity shares of face value of Rs 10 each and an offer for sale (OFS) of up to 15 lakh equity shares by selling shareholders.
Wipro buyback, FII action among top 9 factors to dictate Dalal Street mood this week
Indian markets ended the week in the red, with the Nifty50 dropping 0.85%. Experts suggest that the futures market will provide cues for Monday's opening, with impacts from US markets over the previous week to be taken into account. Major global events next week include a Policy Panel Discussion led by Chair Jerome Powell at the European Central Bank Forum on Central Banking 2023. Technical data shows that any future corrections should be seen as a buying opportunity while, on a corporate level, technology IPOs and buybacks are also worth tracking.
4 SME IPOs currently open for subscription. Check details
Three SME IPOs - Greenchef Appliances, Essen Specialty Films, and Magson Retail and Distribution - were launched on Friday. The IPOs of Greenchef Appliances and Essen Specialty Films were subscribed 9% and 36% respectively on day one. Magson Retail and Distribution's IPO was subscribed just 6% on the first day. Meanwhile, Veefin Solutions' IPO was subscribed 64% on day two. The companies plan to use the proceeds from the IPOs for capital expenditure, working capital requirements, and general corporate purposes, among others. These four IPOs are currently open for subscription in India.
SME IPO: Greenchef Appliances public offer to open on Friday. Here are 10 things to know
Greenchef Appliances is set to launch its initial public offering (IPO) on 23 June, with subscriptions closing just four days later. The firm make kitchen appliances, with gas stoves and pressure cookers among its key products. The kitchen appliances market in India is expected to grow at 8.7% CAGR between 2022 and 2026. Greenchef Appliances is looking to use proceeds from the IPO to help fund the installation of new plant and machinery and for general corporate purposes.
Greenchef Appliances IPO to open on June 23; to list on NSE Emerge
Greenchef Appliances has set a price range of INR82-87 ($1.10-$1.17) per share for its initial public offering (IPO), which will run from 23-27 June. It plans to issue more than 61.63 lakh new shares, which at the top of the range would raise INR53.62 crore ($7.18m). Greenchef manufactures and markets kitchen appliances under 20 categories, and has five manufacturing facilities, four in Karnataka and one in Himachal Pradesh. The proceeds of the IPO will be used to fund a range of expenses.
