Top SME IPOs to Watch This Week – 29 April 2024

This week, market participants will keep a close eye on earnings, as over 200 companies are expected to report their quarterly results for the period ending March 31, 2024. In addition to the earnings, the IPO market will attract attention, with 4 IPOs in the SME segment set to open for subscription this week.

Sai Swami Metals & Alloys IPO

Sai Swami Metals & Alloys IPO is a fixed price issue of Rs 15 crore, involving a total of 25 lakh new shares.

The IPO will be open for subscription from April 30 to May 3, 2024, and the final allotment will be determined on May 6, 2024. The shares are expected to be listed on the BSE SME on May 8, 2024.

The share price for the IPO is set at Rs 60 each, with a minimum application lot size of 2,000 shares. Retail investors need to invest at least Rs 120,000, while High Net Worth Individuals (HNIs) must apply for at least two lots, totaling 4,000 shares, requiring a minimum investment of Rs 240,000.

Founded in September 2022, Sai Swami Metals and Alloys Pvt. Ltd. deals in a diverse array of stainless steel products to meet the diverse requirements of its customers. The company’s product range features various kitchen items like dinner sets, stainless steel casseroles, stainless steel multi kadai, stainless steel water bottles, stainless steel sheets, stainless steel circles, and other types of utensils.

Amkay Products IPO

Amkay Products is launching an IPO worth Rs 12.61 crores, consisting of 22.92 lakh shares. The IPO is open for subscription from April 30 to May 3, 2024, with the allotment set for May 6. The tentative listing date on BSE SME is May 8, 2024.

The price band for Amkay Products IPO is between Rs 52 to Rs 55 per share. The minimum lot size for investors is 2,000 shares, requiring a retail investment of at least Rs 1,10,000. High Net Worth Individuals (HNIs) need to buy at least two lots, which is 4,000 shares, requiring an investment of Rs 220,000.

Hem Securities Limited is the book-running lead manager for the IPO, while Bigshare Services Pvt Ltd is the registrar. Hem Finlease is the market maker.

Founded in October 2007, Amkay Products Limited manufactures and sells a variety of healthcare products, including medical devices, surgical disposables, and other essentials like face masks, alcohol swabs, lancet needles, nebulizers, pulse oximeters, and surgeon caps. The company serves healthcare centers, hospitals, clinics, and nursing homes across India. Amkay also produces and markets diapers, plastic gloves, and suction machines. They offer over 30 healthcare products, with 20 manufactured in-house and 10 sourced from other brands. Their product range includes devices for respiratory conditions, surgical disposables, and home healthcare products.

Storage Technologies & Automation IPO

The Storage Technologies & Automation IPO is a book-built issue totaling Rs 29.95 crores, with all 38.4 lakh shares being a fresh issue.

Subscriptions for the IPO open on April 30, 2024, and close on May 3, 2024. The allotment is expected to be finalized by May 6, with a tentative listing on BSE SME scheduled for May 8, 2024.

The IPO has a price band of Rs 73 to Rs 78 per share, with a minimum lot size of 1,600 shares. For retail investors, the minimum investment is Rs 1,24,800, while High Net Worth Individuals (HNIs) need at least 2 lots, totaling 3,200 shares, requiring a minimum investment of Rs 2,49,600.

Oneview Corporate Advisors Private Limited is the book-running lead manager for the IPO, with Integrated Registry Management Services Private Limited serving as the registrar. The market maker is Nikunj Stock Brokers.

Established in October 2010, Storage Technologies & Automation Limited specializes in storage racking systems. They design and install metal storage racks, automated warehouses, and other storage solutions for a variety of industries, including oil & gas, automotive, aerospace, food & beverages, pharmaceuticals, textiles, retail, and FMCG.

Slone Infosystems IPO

Slone Infosystems IPO is a fixed-price issue valued at Rs 11.06 crores, consisting entirely of a fresh issue of 14 lakh shares. The IPO opens for subscription on May 3, 2024, and closes on May 7, 2024. The allotment is set to be finalized by May 8, with a tentative listing on NSE SME on May 10, 2024.

The IPO is priced at Rs 79 per share, with a minimum lot size of 1,600 shares. Retail investors need a minimum investment of Rs 1,26,400, while High Net Worth Individuals (HNIs) require at least two lots, totaling 3,200 shares, costing Rs 2,52,800.

Jawa Capital Services Private Limited is the book-running lead manager, while Kfin Technologies Limited is the registrar. Aftertrade Share Broking is the market maker.

Founded in December 2022, Slone Infosystems Limited is an Indian company providing IT hardware solutions. It deals in the sale and rental of IT equipment like laptops, desktops, servers, and workstations. The company also offers IT services to corporate clients, including managing cloud servers and IT equipment servicing.

• Slone Infosystems operates in four key areas:
• Sale of laptops, computers, and peripherals
• Sale of other IT-related products
• IT service solutions
• Rental services

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.