Two new companies, Smarten Power Systems and Travel Food Services, are set to debut their Initial Public Offerings (IPOs) on the stock market this July 14.
Two Companies Go Public
The market is buzzing with the upcoming listings. Smarten Power Systems Limited will make its debut exclusively on the National Stock Exchange (NSE).
Travel Food Services Limited, on the other hand, is listing on both the NSE and the Bombay Stock Exchange (BSE), offering investors dual access.
Travel Food Services IPO: The Details
The initial public offering for Travel Food Services Ltd saw strong interest, being subscribed 2.88 times by its closing day. The company received bids for over 3.86 crore shares against the nearly 1.34 crore shares on offer.
Breaking down the subscription, Qualified Institutional Buyers (QIBs) showed significant demand, subscribing 7.70 times their allocated portion. Non-institutional investors also participated actively, with their category getting 1.58 times subscription.
Retail Individual Investors (RIIs) subscribed to 69 percent of their quota. The IPO was priced within a band of Rs 1,045 to Rs 1,100 per share.
MUFG Intime India Private Limited served as the registrar for this IPO. Major financial players like Kotak Mahindra Capital Company Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, and Batlivala and Karani Securities India Private Limited were the book-running lead managers.
Kotak Mahindra Bank Limited and ICICI Bank Limited acted as the sponsor banks for the Travel Food Services IPO.
Smarten Power Systems IPO Overview
Smarten Power Systems Limited’s IPO was open for subscription over three days, from July 7 to July 9. This offering combined a fresh issue of up to 40.01 lakh equity shares, aiming to raise Rs 40.01 crore, with an offer for sale of 10 lakh shares worth Rs 10 crore.
The company set its IPO price at Rs 100 per equity share, valuing the total initial public offering at Rs 50 crore. Maashitla Securities Private Limited was the registrar for the Smarten Power Systems IPO, with Arihant Capital Markets Limited serving as the book-running lead manager.
- Two companies, Smarten Power Systems and Travel Food Services, are listing their IPOs on July 14.
- Travel Food Services will list on both NSE and BSE, while Smarten Power Systems will list only on NSE.
- Travel Food Services IPO was subscribed 2.88 times, with strong interest from QIBs.
- Smarten Power Systems offered shares at Rs 100 each, raising Rs 50 crore.
These listings mark a significant moment for both companies as they enter the public market, providing new investment opportunities.
