3 IPOs Set to Open This Week – Complete Details Inside

The IPO market is currently experiencing significant attraction among all market participants, driven by a substantial increase in the number of companies going public. Businesses from various sectors are choosing to raise capital through initial public offerings, garnering significant attention from investors.

This week, three public issues are set to open. The combined fundraising target for these offerings amounts to Rs 85.15 crore. Let’s take a brief look at each one individually.

1. Chatha Foods Limited

Incorporated in 1997, Chatha Foods Limited (CFL) is a frozen food processor. The company offers frozen food products to top QSRs (Quick Serving Restaurants), CDRs (Casual Dining Restaurants), and other players in the Hotel-Restaurant-Catering segment. Chatha Foods’ product portfolio includes Chicken Appetizers, Meat Patties, Chicken Sausages, Sliced Meat, Toppings & Fillers, and more. The company produces more than 70 meat products.

The company sells products under the brand Chatha Foods and distributes through a network of 29 distributors covering 32 cities across India, catering to the needs of 126 mid-segment & standalone small QSR brands.

Chatha Foods Limited has a Manufacturing Facility located in District Mohali, with a production capacity of approximately 7,839 MT for all frozen food products.

The net proceeds of the issue will be used for setting up the proposed manufacturing plant and for general corporate purposes. The company’s stock will be listed on March 27, 2024.

2. Vishwas Agri Seeds Limited

Incorporated in 2013, Vishwas Agri Seeds Limited is in the business of processing and supplying seeds to farmers via the distribution network. The company sells its seeds under the brand name “Vishwas”. Vishwas Agri Seeds Limited’s product portfolio includes crop seeds for Groundnut, Soybean, Wheat, Cumin, Green Gram, Black Gram, Research Hybrid seeds for Cotton, Castor, Pearl Millet, Maize, hybrid vegetable seeds such as Chilli, Tomato, Brinjal, Watermelon, Sweet Corn, Cabbage, Onion, Coriander Seeds, Fenugreek, Mustard, Lucerne, Carrot, etc.

Vishwas Agri Seeds Limited’s commercial operations of seed processing unit along with Warehouse & Cold storage facility are located in Ahmedabad.

The objectives of the net issue are to raise funds for various purposes. These include capital expenditure for furnishing the corporate office building, purchasing equipment for setting up a seed testing laboratory, setting up a greenhouse with a fan-pad system, and installing rooftop solar monocrystalline panels (129.6 KW). Additionally, funds will be allocated for addressing additional working capital requirements and for general corporate purposes. The company’s stock will be listed on April 1, 2024.

3. 3. Naman In-Store (India) Limited

Established in 2010, Naman In-Store (India) Limited is a retail furniture and fittings company providing retail solutions to various industries and retail outlets. The company specializes in manufacturing modular furniture for offices, beauty salons, kitchens with limited space, educational institutions, and shelving solutions for supermarkets. Additionally, Naman In-Store manufactures customized furniture and fixtures in wood, metal, and plastic for kiosks, complete stores, Countertop Units (CTU), Countertop Display Units (CDU), Point of Sale Merchandising (POSM), etc. The company operates according to a B2B (business-to-business) model.

The company intends to utilize the proceeds of the Issue for several objectives. This includes funding capital expenditure to acquire land on a leasehold basis at Butibori, MIDC, with plans to shift the existing manufacturing facilities. Additionally, funds will be allocated for the construction of a factory building and for general corporate purposes. The company’s stock will be listed on April 2, 2024.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.