NewJaisa Technologies IPO will open on September 25
NewJaisa: NewJaisa Technologies Limited has announced to launch its IPO on 25 September 2023. The price band for this is Rs 44 to Rs 47 per share. NewJaisa is India’s leading IT electronics refurbishing company. The company aims to raise Rs 39.93 at the upper price band of the IPO. Under the issue, 8496000 fresh equity shares of face value Rs 5 will be put up for sale. The IPO will close on September 27 and the shares will be listed on the NSE SME Emerge platform. Bidding for anchor investors opened on September 22, 2023. The quota in the public issue of NewJaisa Technologies is up to 40,32,000 shares for Qualified Institutional Buyers (QIBs), up to 12,12,000 shares for Non-Institutional Investors (NIIs) and up to 28,26,000 shares for retail investors. Whereas the market maker portion is of 4,26,000 equity shares.
The price of the company’s shares is currently trading at a premium of Rs 5 in the gray market. The book running lead manager for the issue is Indoreant Financial Services Limited. The registrar to the issue is BigShare Services Pvt. Ltd. The lot size for the IPO is 3000 shares. After the IPO, the allotment of shares can happen on October 4, 2023.
How will the income be used?
The company will use the net proceeds from the IPO for expansion of the refurbishment facility and purchase of plant, machinery, equipment, investment in technology development, branding and marketing, funding working capital needs, repayment of bank facilities and general corporate purposes.
These two IPOs are also opening on 25th September
Apart from NewJaisa Technologies, IPOs of Updater Services and JSW Infrastructure are also opening on 25th September. The price band for the IPO of Updater Services is Rs 280-300 per share. This public issue of Rs 640 crore size will close on September 27. Whereas the price band for JSW Infrastructure IPO is Rs 113-119 per share. Investors will have till 27 September 2023 to invest money in it. The company plans to raise Rs 2800 crore from the issue.
