IPO calendar: 11 companies to raise Rs 750 crore next week as Gujarat Kidney takes center stage

Heading into the end of the year, the Indian primary market is as busy as ever, especially in the SMB segment, with around 11 companies planning to raise a little over Rs 750 crore next week. The biggest and most closely watched issue in the coming week is Gujarat Kidney and Super Specialty, which is looking to raise Rs 251 crore through a motherboard IPO.

All details about the IPO of Gujarat Kidney and Super Specialty

The healthcare provider accounts for more than a third of the total capital that will be raised next week and will open for registration on December 22. Ahead of the opening of the issue, the GMP is around 7% above the issue price of Rs 114 at the upside.

Gujarat Kidney operates a network of multi-specialty hospitals in Gujarat with a focus on renal sciences and secondary and tertiary care.The company plans to use the IPO proceeds largely for inorganic expansion, including acquiring Parekhs Hospital in Ahmedabad, financing a new hospital in Vadodara and purchasing advanced medical equipment such as robotic systems.

The country will also use some of the resources to reduce debt and strengthen its balance sheet. The IPO is all new, with the company being valued at a pre-issue market capitalization of nearly Rs 900 crore.

The SME segment will dominate the IPOs next week

Apart from Gujarat Kidney, the pipeline is dominated by the MSME segment. About ten small and medium enterprises are jointly aiming to raise around Rs 504 crore through listings on the BSE SME and NSE SME platforms.

These include Apollo Techno Industries, Bai Kakaji Polymers, Admach Systems, Nanta Tech, Dhara Rail Projects, Sundrex Oil, Shyam Dhani Industries, Dachepalli Publishers and EPW India. The issue sizes in the SME basket range from around Rs 31 crore to just over Rs 105 crore. The largest of the lot is from Bai Kakaji Polymers, which is looking to raise around Rs 105 crore. The company, which makes plastic and polymer-based products, has set a price range of Rs 186 per unit.

5 offers planned next week

While fundraising activity remains steady, the listing calendar is just as busy next week with around five IPOs next week. KSH International will be the only motherboard list among them.KSH International’s IPO initially struggled to attract demand and was subscribed by around 83%, but eventually went ahead after the company reduced the size of the offering. The stock currently has a gray market premium of zero, indicating subdued expectations ahead of the listing.

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GMPs for other SME listings scheduled next week are also negligible, indicating that investors are tempering expectations for IPO returns after a volatile year, especially in the SME segment.

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