During the upcoming week commencing from March 11, 2024, the investment landscape will witness the initiation of initial public offerings (IPOs) from two notable entities, namely Popular Vehicles & Services Limited and Krystal Integrated Services Limited.
Popular Vehicles & Services Limited, a significant player in the automotive sector, is poised to kick off its IPO subscription on March 12, 2024. Through this offering, the company endeavors to mobilize funds amounting to Rs 601.55 crore, encompassing a blend of fresh issue and offer for sale of shares. Prospective investors have the opportunity to subscribe to the issue until March 14, 2024, with the allotment process slated to culminate by March 15, 2024.
The company envisages listing its shares on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) tentatively by March 19, 2024. The IPO is priced within the range of Rs 280 to Rs 295 per share, with a minimum lot size of 50 shares, rendering it accessible for retail investors with an initial investment of Rs 14,750. The management of the IPO is entrusted to ICICI Securities Limited, Nuvama Wealth Management Limited, and Centrum Capital Limited, while Link Intime India Private Ltd shoulders the registrar responsibilities. The proceeds garnered from the IPO are earmarked primarily for the repayment and/or pre-payment of certain borrowings, alongside allocation for general corporate objectives.
Krystal Integrated Services Limited, specializing in offering facilities management services, is also poised to launch its IPO subscription on March 14, 2024. The company intends to raise capital through a mix of fresh issue and offer for sale of shares, although the price bands are yet to be disclosed. The subscription window for the Krystal Integrated Services IPO is scheduled to close on March 18, 2024, with the finalization of allotments anticipated by March 19, 2024.
The company aims to list its shares on both BSE and NSE by March 21, 2024. Inga Ventures Pvt Ltd spearheads the book building process for the Krystal Integrated Services IPO, while Link Intime India Private Ltd serves as the registrar. The funds procured from this IPO will be allocated for diverse purposes, encompassing the repayment of borrowings, financing working capital necessities, investment in new machinery, and general corporate requisites.
