Upcoming IPOs this week: Three SME issues to open, five listings scheduled; check list

Upcoming IPOs this week: Three initial public offerings will open for subscription this week. The BSE SME issues of Manoj Jewellers and Srigee DLM will hit the primary market on Monday, May 5.

The initial share sale of Virtual Galaxy Infotech will open on May 9.

Manoj Jewellers IPO

Manoj Jewellers IPO is solely a fresh issuance of 30 lakh shares worth ₹16.2 crore. It is a fixed price issue at ₹54 per share.

The company proposes to utilise money raised for repayment of certain borrowings and general corporate purposes.

An investor can apply for at least 2,000 shares, needing an investment of ₹1,08,000. For high-net-worth individuals, the least investment is ₹2,16,000.

Jawa Capital Services is the issue's book-running lead manager, while Skyline Financial Services is the registrar.

Manoj Jewellers Limited is engaged in the retail and wholesale business of jewellery and ornaments made of gold and diamonds fixed with precious and semiprecious stones.

Its portfolio includes earrings, rings, armlets, gajrahs, pendants, nose rings, chains, necklaces, bracelets, bangles, and wedding jewellery pieces.

Srigee DLM IPO

The ₹16.98 crore Srigee DLM IPO is purely a fresh issue of 17.15 lakh shares.

The funds raised will be used to establish a manufacturing facility in Uttar Pradesh, acquire machinery, and corporate general purposes. A part will also be used to meet issue expenses.

The price band has been fixed at ₹94 to ₹99 per share. A lot consists of 1,200 shares worth ₹1,12,800.

GYR Capital Advisors is the issue's book-running lead manager, while Bigshare Services is the registrar.

Srigee DLM provides design-led manufacturing and assembly services, specialising in tool room and dye manufacturing, plastic injection moulding, polymer compounding, and mobile phone sub-assembly.

Virtual Galaxy Infotech IPO

The ₹93.29 crore crore book-build issue is completely a fresh issue of 65.70 lakh shares. There is no offer for sale component.

The money raised will be used for the following objects:

• Capital expenditure to establish additional development facility in Nagpur
• Debt repayment
• Invest in procuring GPU, server and storage system at Data Centre
• To enhance, maintain and upgrade existing products
• Fund business development and marketing initiatives
• General corporate purposes

The price band is set at ₹135 to ₹142 per share. A lot consists of 1,000 shares worth ₹1,35,000.

The Nagpur-based firm offers IT services and consulting services.

IPO listings this week; check list