Five IPOs hit market today

KS Badri Narayanan Chennai | Updated on September 30, 2019 Published on September 30, 2019

Three firms to raise funds through SME exchange of BSE

Five companies' initial public offerings (IPOs) are set to open for subscription on Monday. Among them, IRCTC is the biggest and widely-tracked IPO, through which the Government plans to raise about Rs 645 crore and divest around 2 crore share at a price band of Rs 315 - 320 a share. The market lot is 40 shares.

Also read: With an IPO around the corner, you can book a stake in IRCTC

Among the five, three - Goblin India, Gensol Engineering and Company and Tutorials Point India - are raising funds through the SME exchange of BSE.

Vishwaraj Sugar Industries plans to raise Rs 60 crore through a fresh issue as well as offer for sale by selling shareholders. It plans to issue 30 lakh shares and an OFS of 70 lakh shares at a price band of Rs 55-60. Minimum lot quantity is 240 shares. The company plans to raise funds for working capital needs.

Goblin India plans to raise about Rs 15 crore through BSE-SME to set up a manufacturing and assembling unit. The issue price is Rs 50-51 a share and the market lot is 2,000 shares.

Hyderabad-based Tutorials Point India plans to raise about Rs 20 crore by selling 31.4 lakh shares at Rs 60-64 a share. Through the funds raised, it  plans to create, develop and market e-tutorial content for sixth to 12th standard classes and to acquire hardware company.

Gensol Engineering and Company, EPC and solar advisory company, plans to raise about Rs 18 crore through BSE-SME. It plans to sell 21.60 lakh shares at a price band of Rs 81-83. The market lot is 1600 shares.

Published on September 30, 2019
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