Vinsys IT Services India IPO, Oriana Power IPO: Even as the primary market has been seeing increased activity of late, two more SME IPOs are set to open next week on August 1 — Oriana Power IPO and Vinsys IT Services India IPO. The companies will be listed on the NSE’s Emerge platform.
Vinsys IT IPO
Pune-based Vinsys IT Services India Ltd, an IT and software services company, has fixed the price of Rs 121 to Rs 128 of a face value of Rs 10 for its forthcoming public offering. The issue will open on August 1, 2023, and close on August 4, 2023.
The company plans to offer 3.89 million equity shares of Rs 10 each through the book-building process. Beeline Capital Advisors are the merchant banker to the issue, while Link Intime India is the registrar to the issue. The company will raise Rs 49.84 crore through the public offering.
The company’s shares will be listed on the NSE’s Emerge platform. The IPO proceeds from the fresh issue will be utilised for meeting working capital requirements, repayment of loan to subsidiary and general corporate purpose.
Of the total issue size of 38.94 lakh shares, the company has allocated 18.48 lakh shares for Qualified Institutional Buyers (including Rs. 11.08 lakh for Anchor Investors) and 5.56 lakh shares for Non-Institutional Investors. For Retail Investors, the company has set aside 12.95 lakh shares for allocation. The minimum application lot size is 1000 equity shares.
Oriana Power IPO
Noida-based Oriana Power Ltd’s IPO will open for subscription on August 1, 2023, and close on August 3, 2023. The anchor investor portion will be open for subscription on July 31, 2023. The company also announced the price band of Rs 115 to Rs 118 per equity share. The Rs 59.64-crore IPO of Oriana Power, will comprise 50.55 lakh equity shares of a face value of Rs 10 each through the book-building route and will be listed on NSE Emerge.
Of the total issue size of 50.55 lakh shares, the company has allocated 24.00 lakh shares for Qualified Institutional Buyers (including Rs. 14.40 lakh for Anchor Investors), and 7.20 lakh shares for Non-Institutional Investors.
For Retail Investors, the company has set aside 16.80 lakh shares for allocation. Corporate CapitalVentures Private Ltd is the Lead Manager for the issue, while Skyline Financial Service Private Ltd. is the Registrar to the issue.
As per the RHP, the company will deploy the IPO proceeds towards meeting its working capital requirements (Rs. 23 crore), investment in subsidiary companies (Rs. 20 crore), capital expenditure for expansion purposes (Rs. 2 crore) and general corporate purposes.
The company recently closed its pre-IPO round, with several reputed investors, including Chennai-based Anil Kumar Goel, JSW Energy’s Prashant Jain, Meru’s founder Neeraj Gupta, Jaipur-based Manoj Agarwal and MSMEx’s Amit Kumar, participating in the offering.
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