IPOs next week: ideaForge Tech, Cyient DLM, PKH Ventures, other. Check details here

ideaForge Technology, Cyient DLM, PKH Ventures, Pentagon Rubber Ltd, Global Pet Industries Ltd, Synoptics Technologies, and Tridhya Tech Ltd are opening for initial public offering (IPOs).

The seven issues are expected to raise a total of over ₹1,600 crore. The SME issues are slated to mop up ₹110 crore.

ideaForge Technology:

ideaForge Technology will open its maiden public issue on 26 June and close on 29 June. The price band of the issue is ₹638-672 per share.

The IPO size would be ₹550.69 crore and ₹567.24 crore at the lower and upper end of the price band, respectively.

The issue comprises a fresh issuance of shares worth ₹240 crore and an offer for sale of 48.69 lakh shares by promoters and investors.

Proceeds from the fresh issuance to the tune of ₹50 crore will be utilised for debt payment, ₹135 towards funding the working capital gap, ₹40 crore for investment in product development and the remaining amount for general corporate purposes.

Cyient DLM:

The public issue of Cyient DLM Limited is going to open for subscription on 27 June 2023. The public offer will remain open for bidding till 30 June 2023. The Electronic Manufacturing Services (EMS) company has fixed price band of its public offer at ₹250 to ₹265 apiece.

The Hyderabad-based company said the promoters/holding company will dilute 30 per cent through the fully-primary issuance of 5.92 crore shares and the holding company Cyient will retain 70 per cent equity post-the public issue.

PKH Ventures:

PKH Ventures IPO is set top open on 30 June,2023 and close on 4 July, 2023. The IPO consists of a fresh issue of upto 18,258,400 shares and an offer for sale of upto 7,373,600 shares by its promoter Pravin Kumar Agarwal. Currently, Pravin Kumar Agarwal holds 63.69 per cent stake in the firm.

Pentagon Rubber Ltd

Pentagon Rubber, which makes rubber conveyor belts, transmission belts, rubber sheets and elevator belts, will hit the capital market to raise around ₹16.17 crore through an initial public offer (IPO). The issue will open on June 26 and close on June 30.

Mohali-headquartered Pentagon Rubber, an engineering components company, has set a price band of ₹65-70 per share for its IPO, comprising an issue of 23.10 lakh equity shares of ₹10 each.

The IPO proceeds will be used to meet the working capital requirements, general corporate purpose and issue expenses. The additional working capital will help in the expansion of its business activities.

The shares will be listed on NSE-Emerge.

Global Pet Industries Ltd

Global Pets Industries IPO will open on June 29 and will close on July 3.

The IPO is an NSE SME IPO to raise ₹13.23 crores. The Global Pet IPO Industries price band is fixed at ₹49.

Synoptics Technologies

Synoptics Technologies IPO is set top open on 30 June,2023 and close on 5 July, 2023. The IPO consists of a fresh issue of upto 1,480,000 shares and an offer for sale of upto 800,000 shares,

The IPO is priced at ₹237 and is a fixed price issue.

Tridhya Tech Ltd

Tridhya Tech which will open next week on June 30. The IPO will be available for subscription till July 5. Tridhya, which is engaged in full-service software development, will likely be listed on NSE Emerge on July 13.

Tridhya will be offering 62,88,000 equity shares in the IPO having a face value of ₹10 each.

Updated: 24 Jun 2023, 08:01 PM IST