IPO stands for Initial Public Offering and it is when the promoters of the company in question for the first time want to raise additional funds by offering shares of the company.
The Dalal Street is set to witness at least three companies opening their initial public offerings (IPO) for subscriptions in the coming week. Sai Swami Metals and Alloys, Amkay Products and Storage Technologies, and Automation will open their IPOs for the subscriptions in the coming week.
Sai Swami Metals and Alloys IPO
Sai Swami Metals’ IPO will open for subscription on April 30 and closes on May 3. The company is planning to raise about ₹15 crore through the issue, Economic Times reported.
The price band of IPO has been fixed at ₹60 a piece, where the investors can bid for 2,000 shares in a lot. As per the report, about 50 per cent of the IPO is reserved for retail investors and the remaining for other investors.
Sai Swami Metals is involved in the trading and marketing of stainless steel products.
Amkay Products IPO
Amkay Products will open its IPO for subscription from April 30 to May 3. According to an ET report, the price band of the IPO has been fixed at ₹52-55 per share. The investors will be able to bid for 2,000 shares in a lot.
As per the report, 50 percent of the offer is reserved for qualified institutional buyers, 35 percent for retail investors, and 15 percent for non-institutional investors.
Amkay Products manufactures, assembles and markets medical devices, face masks, alcohol swabs etc.
Storage Technologies and Automation IPO
The IPO of Storage Technologies and Automation will be open for subscription from April 30 and close on May 3. The initial issue is priced at ₹73-78 per share and investors can bid for 1,600 shares in a lot.
As per the ET report, 50 percent of the initial public offer is reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.
Storage Technologies and Automation specialises in the design, manufacturing, and installation services of metal storage racks and other solutions.
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