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Vikram will raise Rs 2,079.37 crore through Solar IPO.
The traders starting on August 18 in the stock market will open the total 5 public issue of the mainboard segment in the week. These 5 companies will raise Rs 3,585 crore from IPO. Of these, 4 IPO will be open on August 19 and will be close on August 21. These 4 companies have a plan to raise Rs 3,185 crore from IPO.
At the same time, the IPO of Mangal Electrical Industries Private Limited will be open on August 20 and close on August 22. Mars will raise Rs 400 crore from the electrical issue. The company’s price band for IPO is ₹ 533-₹ 561 and lot size is 26 shares. This company has been established in 2008.
Four IPO will open on August 19
Vikram Solar is the biggest issue in the four IPO to open on August 19. Vikram will raise Rs 2,079.37 crore through Solar IPO. Including fresh share sale of Rs 1,500 crore and equity shares up to Rs 1,74,50,882 of its promoters and shareholders. The company will offer its shares at a price of Rs 315-332 per share with a lot size of 45 equity shares.
At the same time, Gem will raise Rs 451.25 crore from Aeromatics issue and Rs 410.71 crore from Shreeji Shipping Global IPO. Gem Aromatics is selling its shares at a price of Rs 309-325 per share with a lot size of 46 shares. Whereas, Shreeji Shipping will offer the share at Rs 240-252 per share with lot size of 58 equity shares.
5 IPO will open this week in the mainboard segment
| Company | Opening date | IPO Size (Crore Rupees) |
| Vikram Solar | 19 August | 2,079 |
| Gem aeromatics | 19 August | 451 |
| Shreeji shipping | 19 August | 410 |
| Patel retail | 19 August | 242 |
| Mars Electrical | 20 August | 400 |
Patel Retail will raise ₹ 242 crore
Patel Retail is the smallest issue to open on August 19. The company is raising Rs 242.76 crore from the issue and offering its shares at a price of Rs 237-255 per share. Whose lot size is of 58 equity stocks. Patel Retail at Ambarnath is a retail supermarket chain, established in 2008 and which mainly works in Tier-3 cities and surrounding areas.
At the same time, Vikram Solar, a Kolkata-based Kolkata, established in 2005, is a solar photo-voltque module manufacturer. Whereas, Shreeji Shipping in Jamnagar is a shipping and logistics company that focuses on dry-ball cargo. Which was established in 1995. Gem Aromatics is a Mumbai -based specialty ingredients manufacturer, built in 1997.
Latest gray market premium of companies
The latest gray market premium (GMP) of Vikram Solar has come down to Rs 60-62 per share, which was earlier Rs 69. The GMP of Shreeji shipping has also come down to Rs 26, which was 30 rupees earlier. Patel Retail’s GMP remains Rs 35 per share while steady. On the other hand, GMP of Gem Aromatics has now been Rs 41 per share. All four are indicating an increase of 12–18% on the IPO listing.
What is IPO?
When a company releases its shares for the common people for the first time, it is called an initial public offering i.e. IPO. The company needs money to increase business. In such a situation, instead of taking loans from the market, the company raises money by selling some shares to public or issuing new share. For this, the company brings IPO.
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