Watch three SME IPOs hit capital market

Indian capital markets is attracting more companies to raise funds from small and medium enterprise (SME) platform. There are three companies which will garner funds from SME. Nitiraj Engineers, Global Education and Tanvi Foods will come out with their initial public offerings (IPOs) in February, 2017.

The three companies is likely to raise about Rs 39 crore from the IPO. According to draft papers, Nitiraj Engineers plans to mop up Rs 22.01 crore, while Global Education will raise Rs 10 crore and Tanvi Foods (India) will raise around Rs 6.6 crore.

Nitiraj Engineers' IPO will open for public subscription between February 20 and March 1, while Global Education will be opening between February 16 and February 21 whereas, Tanvi Foods' public issue will open on February 17 and close on February 22.

Nitiraj Engineers and Global Education will get listed on NSE's small and medium enterprises platform, Emerge, while Tanvi Foods will be listed on BSE's SME platform. These companies will utilise garnered funds for business expansion plans and working capital requirements, among others.