3 SME IPOs to close today; Check all details before subscribing

All the three SME IPOs are raising a total of Rs 159 crore, combined. (Image: Freepik)

On June 27, three SME IPOs will be closing their issue bidding. All three opened their issue to investors for subscription on June 25. Here is a quick look at what’s on offer and if you should put your money to subscribe

The Money Fair (Akiko Global Services) SME IPO

Akiko Global Services wants to raise Rs 23.11 crore by offering 3 million fresh shares. The raised money will be utilised for implementing ERP Solutions and TeleCRM, a mobile application for financial product solutions, meeting working capital requirements, enhancing visibility and awareness of the brands, and issue expenses. The company kept the price band at Rs 73 – Rs 77 per equity share. The issue will be listed on the NSE SME platform. The required minimum retail investment is Rs 1,23,000. The company has raised Rs 6.58 crore from the anchor investors.

Divine Power SME IPO

The company wants to raise Rs 22.76 crore by offering 5.69 million fresh shares. The company will close its IPO on June 27. It opened the issue to investors for bidding on June 25. Divine Power kept the price band in the range of Rs 36 to Rs 40. A retail buyer needs to apply for a minimum of one lot that contains 3000 shares, which amounts to Rs 1,20,000. The company’s shares hit the NSE SME platform on July 02, according to the tentative schedule. The anchor investors had already bought 1.62 million shares of the company for Rs 6.48 crore.

Petro Carbon and Chemicals SME IPO

The company wants to raise Rs 113.16 crore from investors. Petro Carbon opened its issue for bidding on June 25 and will close it on June 27. The company is selling 6.62 million fresh shares. According to the tentative schedule, the company will list on July 02 on the NSE SME platform. The company kept the price band in a range of Rs 162 to Rs 171 per equity share. A retail buyer needs to apply for a minimum of 800 shares or one lot amounting to Rs 1,36,800. GYR Capital Advisors has been chosen to handle the book-running work, while Bigshare Services is working as the registrar of the issue. The company raised a total of Rs 31.72 crore from the anchor investors.