By Abhay Ray 
Introduction
The primary market is gearing up for a busy week with eight IPOs opening for subscription, including six from the SME segment. Additionally, six listings are scheduled to hit the Street. In the mainboard segment, Ajax Engineering and Hexaware Technologies will headline the action.
Ajax Engineering, a leading manufacturer of concrete equipment, will open its IPO for public subscription on February 10.The Company has set a price band of ₹599-629 per share. The offering is entirely an offer-for-sale (OFS) of 2.01crore equity shares by existing shareholders, with no fresh issue component.
Ajax Engineering IPO
The mainboard of Ajax Engineering Ltd, a leading concreting equipment player, will be open for subscription from February 10 to February 12. It is a 100% book-built issue comprising only an offer-for-sale (OFS) of 2.02 crore shares. The price band for the issue has been set at ₹599 to ₹ 629 per share. The lot size, or the minimum bid quantity to apply for the IPO, is 23 shares. This is equivalent to an investment of for at least a single lot size by the retail investors. After the bidding closes on February 12, the allotment of shares is expected to be finalised on February 13. Ajax Engineering shares are scheduled to be listed on both the BSE and NSE on February 17.
Hexaware Technologies IPO
IT services and consulting company Hexaware Technologies Ltd will launch its IPO on February 12.The subscription window for the mainboard issue will remain open till February 14. The Hexaware Technologies IPO is a 100% book-built issue comprising entirely an OFS of 12.36 crore shares. The price band has been set at ₹674 to ₹708 per share and the lot size for an application is 21. This translates into a minimum investment amount of ₹14,868 per lot size. The allotment of shares is expected to be finalised on February 17. Hexaware Technologies shares are scheduled to be listed on both the BSE and NSE on February 19.
SME IPOs
The SME segment will see six IPOs next week, led by Chandan Healthcare, which aims to raise ₹107 crore, and Maxvolt Energy, targeting ₹54 crore. Other IPOs include PS Raj Steels, Voler Car, LK Mehta Polymers, and Shanmuga Hospital. All shares are scheduled to be listed on the NSE Emerge platform on February 19.
Chandan Healthcare IPO – The ₹107.36-crore SME IPO of Chandan Healthcare Ltd, a leading healthcare group offering services like diagnostics, retail pharmacy and medical education, will open for subscription from February 10 to February 12.The 100% book-built issue is a combination of fresh issuance of 44.52 lakh shares, aggregating to ₹70.79 crore, and an OFS of 23 lakh shares, aggregating to 36.57 crore. The IPO price band has been set at ₹151 to ₹159 per share. The lot size for an application is 800. This means that the minimum investment amount for retail investors is ₹1,27,200 for at least a single lot size.
Voler Car IPO – The SME IPO of Voler Car Ltd. a car rental services company, will be launched on February 12. The bidding will remain open till February 14. It is a 100% book-built aimed at raising ₹27crore. The NSE SME issue is entirely a fresh issuance of 30 lakh shares. The company has set the IPO price band at ₹85 to ₹90 per share, while the lot size for an application is 1,600 units. This is equivalent to a minimum investment amount of ₹1.44lakh in the IPO.
PS Raj Steels IPO – Stainless steel products manufacturer will launch its ₹28.28-crore SME IPO on February 12.It is a 100% book-built issue made up entirely of a fresh issuance of 20.2 lakh shares. The price band for the IPO has been set at ₹132 to ₹140 per share. The lot size for an application is 1,000 shares, aggregating to a minimum investment of ₹1.4 lakh per lot size for the retail investors.
Maxvolt Energy Industries IPO – Lithium-ion batteries manufacturer Maxvolt Energy Industries Ltd will launch its IPO on February 12 to raise ₹54 crore from the primary market.The company has fixed the IPO price band at ₹171 to ₹180 apiece. The minimum bidding size of retail investors is ₹1,44,000 for at least a single lot size of 800 shares. The IPO comprises a fresh issue of 24 lakh shares, aggregating to ₹43.2 crore and an OFS portion of 6 lakh shares worth ₹10.8 crore.
LK Mehta Polymers – The IPO for plastic products maker LK Mehta Polymers will start on February 13 and close on February 17, intending to raise ₹7.38 crore at a price of ₹71 per share.
Shanmuga Hospital – Shanmuga Hospital, a Tamil Nadu-based multispecialty hospital will float a ₹20.62 crore IPO via a fixed price issue at ₹54 per share which will open for subscription during February 13-17.
Conclusion
The upcoming week promises to be an exciting one for investors, with a diverse range of IPOs hitting the market. Ajax Engineering and Hexaware Technologies lead the charge among the mainboard IPOs, offering significant investment opportunities with their strong growth potential. Meanwhile, the six SME IPOs provide a chance to invest in smaller, emerging businesses across various sectors. As these IPOs open for subscription, investors should carefully consider the individual offerings, assess their risk appetite, and conduct thorough research to make informed investment decisions. The week’s packed schedule of IPOs, ranging from large established companies is a clear indication of the dynamic opportunities in India’s vibrant IPO market.
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