SME IPO surge: These 4 firms invite bids today; price, lot size and more

A total four small and medium enterprises (SME) initial public offerings (IPO) are inviting bids for their respective issues starting from Monday, 9, September, 2024. These are Aditya Ultra Steel, Shubhshree Biofuels Energy, Share Samadhan and Gajanand International.

The companies will list on NSE SME platform, below is a full list of these SME IPOs and its details:

Aditya Ultra Steel IPO:

Aditya Ultra Steel IPO aims to raise Rs 45.88 crore through a fresh issue of 7.4 million shares. The issue will be open for subscription from September 9 to September 11, 2024, with allotments expected to be finalized on September 12, 2024. The IPO will list on NSE SME, with a tentative listing date of September 16, 2024. The price band for the shares is set between Rs 59 and Rs 62. The minimum lot size is 2,000 shares, requiring a minimum investment of Rs 124,000 for retail investors and Rs 248,000 for HNI investors, who need to apply for 4,000 shares. Swastika Investmart Ltd. is the book running lead manager, Cameo Corporate Services Limited is the registrar, and Sunflower Broking is the market maker. Ditya Ultra Steel Limited, established in 2011, specializes in producing rolled steel products, particularly TMT bars, under the brand name “Kamdhenu.” The company operates a manufacturing facility in Wankaner, Gujarat, equipped with a reheating furnace and a rolling mill, and boasts a production capacity of 108,000 MT for TMT bars. Primarily serving the construction and infrastructure sectors, Ditya Ultra Steel Limited employs 149 full-time staff, including executives, as of April 30, 2024.

Shubhshree Biofuels Energy IPO:

Shubhshree Biofuels Energy IPO seeks to raise Rs 16.56 crore with a fresh issue of 13.92 lakh shares. The subscription period is from September 9 to September 11, 2024, and the allotment will be finalised on September 12, 2024. The company raised Rs 4.68 crore from anchor investors on Friday. The IPO will list on NSE SME, with a tentative date of September 16, 2024. Shares are priced between Rs 113 and Rs 119 each. The minimum lot size is 1,200 shares, with retail investors required to invest at least Rs 142,800 and HNI investors needing to apply for 2,400 shares at a minimum of Rs 285,600. Hem Securities Limited is the lead manager, Bigshare Services Pvt Ltd is the registrar, and Hem Finlease is the market maker. Established in 2013, Shubhshree Biofuels Energy supplies biomass fuels, including biomass pellets and briquettes, to customers operating in the recycled material, textile processing, pharmaceutical, and metal sectors.

Share Samadhan IPO:

Share Samadhan IPO is attempting to raise Rs 24.06 crores through a fresh issue of 32.51 lakh shares. It opens for subscription from September 9 to September 11, 2024, with allotments expected on September 12, 2024. The company raised Rs 6.83 crores from anchor investors on Friday. The listing is planned for September 16, 2024, on BSE SME. The price band is Rs 70 to Rs 74 per share. The minimum lot size is 1,600 shares, requiring a minimum investment of Rs 118,400 for retail investors and Rs 236,800 for HNI investors applying for 3,200 shares. Narnolia Financial Services Ltd is the lead manager, Skyline Financial Services Private Ltd is the registrar, and Nikunj Stock Brokers is the market maker. Share Samadhan Limited, formerly Tiger Island Hospitality Private Limited, was incorporated in 2011. The company provides various services to help clients protect and recover their investments efficiently. As of August 28, 2024, it employs 48 people.

Gajanand International IPO: 

Gajanand International IPO seeks to raise Rs 20.65 crores through a fresh issue of 57.36 lakh shares. The issue will be open from September 9 to September 11, 2024, with allotments to be finalised on September 12, 2024. The IPO will list on NSE SME, with a tentative date of September 16, 2024. Shares are priced at Rs 36 each. The minimum lot size is 3,000 shares, requiring an investment of Rs 108,000 for retail investors and Rs 216,000 for HNI investors applying for 6,000 shares. Fast Track Finsec Pvt. Ltd. is the book running lead manager, Skyline Financial Services Private Ltd is the registrar, and Nikunj Stock Brokers is the market maker. Founded in 2009, Gajanand International Limited, previously Gajanand Cottex Private Limited, specialises in producing contamination-free and sustainable cotton.