12 SME IPOs to hit mkts to mop up Rs 70 cr

Enthused over upbeat investor sentiment, as many as 12 small and medium enterprises (SMEs) will hit the capital markets tomorrow to raise an estimated Rs 70 crore through initial public offers. So far this month, 12 other companies have already hit the capital markets. The 12 firms coming up with IPOs are Gretex Industries, Dhanuka Realty, Sakar Healthcare, Art Nirman, Pansari Developers, Aurangabad Distillery, Globe International Carriers, DRA Consultants, Shashijit Infraprojects, Mewar Hi-Tech Engineering, India Green Realty and Bindal Exports, reports PTI.

Of these, 7 companies will be listed on SME platform of NSE and 5 firms on the BSE platform. Collectively, these firms are estimated to garner Rs 70 crore. The funds raised through the issue would be used for business expansion plans, working capital requirements and other general corporate purposes.

Further, as many as 33 companies have lined up their IPOs plan on the SME platform of BSE, while NSE is in talks with various companies to list on its SME platform across India. In all, 44 SMEs had raised a total of Rs 290 crore in the 2015-16 fiscal. BSE and NSE had launched SME platforms in March 2012. Since then, several companies have got listed on them and some have even shifted to the mainboard. The platforms provide opportunity to SME entrepreneurs to raise equity capital for growth and expansion. It also provides immense opportunity for investors to identify and invest in good SMEs at an early stage.

The number of small and medium enterprises listed on the NSE EMERGE platform is set to hit 29 with the launch of seven initial public offers.

The seven SMEs to hit capital markets tomorrow are --Aurangabad Distillery, Art Nirman, Pansari Developers, Dhanuka Realty, Globe International Carriers, Sakar Healthcare, Gretex Industries.

Currently, 19 companies are listed on the platform. Besides the seven IPOs due tomorrow, two issues are currently open for subscription and another company closed its IPO yesterday.

The seven companies will raise funds in the range of Rs 4 crore to nearly Rs 15 crore."NSE EMERGE is witnessing hectic activity in September 2016 culminating in 7 IPOs opening on September 30, five of which are by a single merchant banker (Hem securities)," NSE's Head, Business Development, Ravi Varanasi told reporters in Mumbai.