From Platinum Industries to Bharat Highways, 6 IPOs hitting market this week

Out of these six IPOs, three are in mainboard and happen to be small and medium enterprises.

The upcoming week will be buzzing with six initial public offerings (IPO) set to hit the stock market. Out of these six IPOs, three are in mainboard and happen to be small and medium enterprises.

In the previous week, the benchmark indices Sensex and Nifty had edged lower in volatile trade. The 30-share Bombay Stock Exchange (BSE) had slipped by 15.44 points to close at 73,142.80 points.

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 Nifty closed lower by 4.75 points or 0.02 per cent at 22,212.70 points as gains in FMCG, pharma and financial shares were offset by losses in IT and private bank shares.

There are the six IPOs to watch out for next week:

Exicom Tele-Systems IPO

Exicom Tele-Systems Ltd is an EV chargers maker, and will open its IPO for subscriptions from February 27 to 29. The company has fixed a price band of ₹135-142 per share for the ₹429 crore public issue. The IPO comprises a fresh issue of equity shares aggregating up to ₹329 crore and an OFS of up to ₹70.42 lakh shares worth ₹100 crore at an upper end of the price band.

Platinum Industries IPO

PVC and CPVC additives manufacturer Platinum Industries Ltd will open its IPO for subscription from February 27 to 29. The price band of the IPO has been fixed at ₹162-171. The company will allot shares on March 1, 2024 with refunds processed on March 4. The company will be listed on the NSE and BSE, with trading of the equity shares to commence on March 5.

Bharat Highways InvIT IPO

Infrastructure Investment trust Bharat Highways InvIT will open its IPO for subscription on February 28 and close on March 1. The price band of the issue has been set at ₹98-100 per unit. The proceeds from the IPO will be utilised for loans to Project SPVs (special purpose vehicles) for repayment of their outstanding loans.

Owais Metal and Mineral Processing IPO

Metals and minerals production and processing firm Owais Metals and Minerals Processing's IPO opens for subscription on Monday, February 26, and close on February 28. The IPO is a book built issue of ₹42.69 crores and is entirely a fresh issue of 49.07 lakh shares, Mint reported. The price band has been set at ₹83-87 per share.

Purv Flxipack IPO

The company's IPO comprising 56.64 lakh shares opens for subscription on February 27 and closes on February 29. The IPO's price band is set at ₹70 to
₹71 per share.

MVK Agro Food IPO

The company's IPO will open for subscription on February 29 and close on March 4, having a fixed price of ₹120 per share. The IPO is a fixed price issue of ₹65.88 crore and comprises 54.9 lakh shares.