After action-packed last few weeks, the stock markets in India are taking it easy with only two new IPOs opening for subscription this week.
The two new IPOs, including Awfis Space Solutions IPO and GSM Foils IPO, which recently attracted significant investor interest, will be listed on D-Street, reflecting a positive market sentiment.
Awfis Space Solutions will be the sole IPO from the mainboard segment opening this week on May 22, 2024. Meanwhile, GSM Foils, a strip foils manufacturer, will launch its Rs 11 Crore IPO in the SME segment on May 24, 2024.
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IPOs Launching this Week
Here are key details of the two new IPOs:
Awfis Space Solutions IPO
Awfis Space Solutions, a co-working space provider founded in 2014, offers workspace solutions across India. The company provides a variety of flexible office options for startups, small and medium-sized enterprises (SMEs), and large corporations.
It is now gearing up to launch its Rs 598.93 crore IPO, which will open on May 22, 2024, and close on May 27, 2024. This book-built consists of a fresh issue of 0.33 crore shares worth Rs. 128.00 crores and an offer for the sale of 1.23 crore shares worth Rs. 470.93 crores.
The price band for the IPO has been set at Rs. 364 to Rs. 383 per share.
GSM Foils IPO
GSM Foils Limited manufactures Blister Foils and Aluminium Pharma Foils (or “Strip Foils”), used for packaging pharmaceutical medicines like capsules and tablets. As a primary packaging material that directly contacts the medicine, and hence, their quality is most important.
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The GSM Foils IPO will be open for subscription from May 24 to May 28, 2024. This SME IPO, valued at Rs. 11.01 crores, consists entirely of a fresh issue of 34.4 lakh shares. The price per share is set at Rs. 32.
Retail investors need to invest at least Rs. 128,000, equivalent to a minimum lot size of 4,000 shares. High net-worth individuals (HNIs) must purchase a minimum of 8,000 shares, totaling an investment of Rs. 256,000.
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Disclaimer: The above content is for informational purposes only. The 1% News recommends consulting a SEBI-registered investment advisor before making any investment decision.
