Four SME IPOs set to hit the streets
DSIJ Intelligence / 30 Jun 2016
June 30 will kick off with the launch of four IPOs of Small and Medium Enterprises, namely: Advance Syntex, Titanium Ten Enterprise, Commercial Syn Bags and Kwality Pharmaceuticals.
June 30 will kick off with the launch of four IPOs of Small and Medium Enterprises, namely: Advance Syntex, Titanium Ten Enterprise, Commercial Syn Bags and Kwality Pharmaceuticals. So far out of 173 firms that have filed their Red Herring Prospectus, 140 firms got listed and 33 are in process of getting listed with BSE on its SME platform.
The SME platform of BSE is an integrated platform with BSE Main Exchange on a shared infrastructure basis, which gives the SMEs an opportunity to raise capital for their financial needs.
The four SMEs together will raise capital of 19 crore where Advance Syntex is to raise Rs 2.52 crore, Titanium Ten Enterprise to raise Rs 2.7 crore, Commercial Syn Bags will raise Rs 7.6 crore while Kwality Pharmaceuticals will garner Rs 6.21 crore.
Advance Syntex is a Gujarat based manufacturer of Polyester films and yarn. Its products are used as raw materials in textiles, flexible packaging, lamination, printing, decorations, advertising, paints etc., under the brand Midas. The start and end date of issue are June 30 and July 4 with an offer price of Rs 12 and FV of Rs 10.
Titanium Ten Enterprise is engaged in manufacturing of knitted fabrics and trading of knitted fabrics, yarn and grey cloth. Currently the company has installed production capacity of 6 lakhs kgs p.a. for knitted fabrics. The start and end date of issue are June 30 and July 5 with an offer price of Rs 15 and FV of Rs 10.
Commercial Syn Bags manufactures plastics and laminated coated bags. It also manufactures and exports FIBC / Big Bag, PP Fabric, PP Woven Bag, BOPP Bags and Tarpaulin in India. The start and end date of issue are June 30 and July 5 with an offer price of Rs 24 and FV of Rs 10.
Kwality Pharmaceuticals is a manufacturer of finished pharmaceutical formulations in a dosage form. The company got its products registered in different countries of Europe, Africa, Asia & CIS countries. The start and end date of issue are June 30 and July 8 with an offer price of Rs 45 and FV of Rs 10.
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