2 Upcoming IPOs To Watch This Week: Check Issue Price, Lot Size And Other Details

The grey market will witness to IPOs all set to hit the floor in the coming week. Sonalis Consumer Products Limited and IKIO Lighting IPO are the two enterprises that are coming with their public offerings within the date range of June 6 to 7.

Sonalis Consumer Products Limited IPO

A SME IPO with 944,000 equity shares with a face value of Rs. 10 and a total value of up to Rs. 2.83 Crores is being offered by Sonalis Consumer Products. The issue will open on June 7, 2023, and is set to close on June 9, 2023. The issue is priced at Rs 30 per share and the minimum order quantity is 4000 Shares, hence the minimum amount of investment required for retail investors to subscribe Sonalis Consumer Products IPO is Rs 1.20 lakh. Purva Sharegistry India Pvt Ltd is the registrar for the IPO Expert Global Consultants Private Limited is the lead manager.

Sonalis Consumer Products IPO listing date is 19 June 2023 and is to list on BSE SME. The basis of allotment of shares is going to be done on Wednesday, 14 June 2023. As much as 444,000 shares or 49.78% for retail category and 448,000 shares or 50.22% for HNI category has been reserved by Sonalis Consumer Product IPO.

Commenting on whether one should subscribe Sonalis Consumer Products IPO, A R Ramachandran, Co-founder & Trainer-Tips2trades said "Improving profit margins and steady ROE over the past 3 years makes Sonalis Consumer Products an attractive buy at current valuations. Investors can subscribe to this issue for listing gains."

Incorporated in 2022, Sonalis Consumer Products Limited is engaged in the FMCG sector.

IKIO Lighting IPO

IKIO Lighting's initial public offering (IPO) consists of 52 equity shares with a face value of Rs 10, totalling up to Rs 607.00 crores. The issue is priced at Rs 270 to Rs 285 per share. The IPO is scheduled to open on June 6, 2023, and close on June 8, 2023. The shares are proposed to be listed on BSE, NSE platform and the listing date is Friday, 16 June 2023.

Kfin Technologies Limited is the registrar for the IPO and the lead manager is Motilal Oswal Investment Advisors Pvt Ltd. The IKIO Lighting IPO, which is valued at Rs 607 crore, consists of a fresh issue of equity shares worth up to Rs 350 crore and an offer-for-sale (OFS) of up to 90 lakh equity shares by the promoters of the company who are Hardeep Singh and Surmeet Kaur going to sell their shares through OFS. The minimum investment needed to subscribe is Rs 14,820 since the lot size for the IKIO Lighting IPO is 52 shares and retail investors can bid for a maximum of 13 lots.

Tuesday, 13 June 2023 has been fixed as basis of share allotment date. The IKIO Lighting IPO allocation includes of 35% for the retail market, 15% for NII (HNI), and 50% for QIB.