3 mainboard IPOs to open tomorrow: All you need to know about MobiKwik, Sai Life, Vishal Mega Mart public issues | Stock Market News

IPOs this week: India’s primary market will witness intense action as three new mainboard initial public offerings (IPOs) will open for bidding on Wednesday, December 11, 2024. Investors will be busy tracking the new issues for day-by-day subscription status, grey market premiums (GMPs), and the key dates to get the desired allotment. From fintech majors to supermarket chains, the mainboard IPOs are likely to raise over ₹19,000 crore, reflecting strong investor interest across diverse sectors.

The three mainboard IPOs set to open tomorrow are MobiKwik IPO, Sai Life Sciences IPO, and Vishal Mega Mart IPO. The public issues will close for bidding on Friday, December 13, 2024. From key IPO dates price bands to lot sizes, here’s all you need to know about the three upcoming mainboard public issues:

Also Read: IPOs this week: Mobikwik IPO, Vishal Mega Mart IPO among 11 upcoming mainboard and SME IPOs set to hit D-Street

3 mainboard IPOs to open on Dec 11: Here’s what you need to know

MobiKwik Systems IPO:

Fintech major One MobiKwik System’s public issue is set to hit the market to open for subscription on December 11. Incorporated in March 2008, Mobikwik is a fintech company providing prepaid digital wallets and online payment services. MobiKwik provides a range of payment services, enabling consumers to pay utility bills, such as mobile recharges, electricity, and credit card bills, among others.

MobiKwik Systems is poised to raise ₹572 crore through its IPO, which will consist entirely of a fresh issue of shares without an offer-for-sale (OFS) component. The price band of the issue has been fixed at ₹265 to ₹279 per equity share with a face value of ₹2. 

The One MobiKwik Systems IPO subscription date is Wednesday, December 11, and will close on Friday, December 13. The allocation to anchor investors for the One MobiKwik Systems IPO is scheduled for Tuesday, December 10. The IPO lot size is 53 equity shares; thereafter, it will be multiples of 53 equity shares.

Also Read: Mobikwik IPO opens tomorrow. GMP, date, review, other details about upcoming IPO in 10 points

MobiKwik is committed to investing in data, machine learning (ML), and artificial intelligence (AI) to enhance its product and technology offerings further. The funds will be directed towards capital expenditures for payment devices and general corporate purposes, positioning the company for significant advancement in the competitive payments landscape. 

MobiKwik IPO’s book-running lead managers (BRLM) are SBI Capital Markets Limited and Dam Capital Advisors Ltd (formerly IDFC Securities Ltd). The public issue’s registrar is Link Intime India Private Ltd. Shares of the company are available at a premium of ₹132 in the grey market today.

Also Read: Sai Life Sciences IPO opens tomorrow: GMP, issue details, 10 key things to know

Sai Life Sciences IPO:

TPG-backed Sai Life Sciences IPO is scheduled to open for subscription tomorrow, December 11. The firm is a contract research, development, and manufacturing organisation (CRDMO) focusing on innovation. Backed by the private equity giant TPG Capital, it provides comprehensive services throughout the drug discovery, development, and manufacturing process for small-molecule new chemical entities to pharma and biotechnology companies.

Sai Life Sciences IPO comprises a new issuance of equity shares valued at a maximum of ₹950 crore, along with an OFS of up to 3.81 crore equity shares by a promoter, investor shareholders, and various other shareholders. Under the OFS, one of the entities controlled by the promoters — Sai Quest Syn Pvt Ltd — along with investor shareholders — TPG Asia VII SF Pte Ltd and HBM Private Equity India — will divest their individual stakes.

The price band has been set at ₹522 to ₹549 per equity share with a face value of Re 1. Each lot in the IPO contains 27 equity shares. Bids can be placed for multiples of 27 shares, with a minimum bid of 27. The tentative date for Sai Life Sciences IPO share allotment is Monday, December 16. Refunds will begin on Tuesday, December 17, and shares will be credited to allottees’ demat accounts the same day as the refund date. 

Sai Life Sciences share price will likely be listed on BSE and NSE on Wednesday, December 18. Kotak Mahindra Capital Company Limited, Jefferies India Private Limited, Morgan Stanley India Company Pvt Ltd, and IIFL Securities Ltd are the book-running lead managers for the Sai Life Sciences IPO. Kfin Technologies Limited is the issue’s registrar.

Also Read: Vishal Mega Mart IPO: GMP, date, price, review, other details as upcoming IPO opens tomorrow

Vishal Mega Mart IPO: 

Supermarket store operator Vishal Mega Mart’s public issue will open for subscription on December 11. Established in 2001, Vishal Mega Mart is a hypermarket chain offering various products, including apparel, groceries, electronics, and home essentials. It targets middle and lower-middle-income people through a network of 645 stores (as of September 30) and their Vishal Mega Mart mobile app and website. 

Vishal Mega Mart’s IPO is an OFS of 102.56 crore equity shares. Vishal Mega Mart’s IPO size is ₹8,000 crore at the upper end of the price band. Hence, the IPO consists entirely of an OFS amounting to ₹8,000 crore by Samayat Services LLP, the promoter with a 96.46 per cent stake in Vishal Mega Mart. 

At the upper price band of ₹78, the company is expected to have a market capitalization of around ₹36,120 crore. The price band has been fixed at ₹74 to ₹78 per equity share with a face value of ₹10. The lot size is 190 equity shares, multiples of 190 equity shares thereafter. The lead managers for this IPO include Kotak Mahindra Capital, ICICI Securities, Intensive Fiscal Services, Jefferies India, JP Morgan India, and Morgan Stanley India.

Also Read: Vishal Mega Mart to ramp up store launches after ₹8,000 crore IPO

Tentatively, Vishal Mega Mart IPO’s basis of allotment of shares will be finalised on Monday, December 16. The company will initiate refunds on Tuesday, December 17, and the shares will be credited to the Demat account of allottees on the same day following the refund. Vishal Mega Mart’s share price will likely be listed on BSE and NSE on Wednesday, December 18.