Shares of two SME IPOs, Peshwa Wheat and Roopa Screen, are set to make their stock market debut on Thursday, October 1. Ahead of the listing, Roopa Screen shares are commanding a grey market premium (GMP) of around 66%, indicating strong grey-market sentiment, while Peshwa Wheat shares have no reported GMP.

The two companies raised a combined Rs 72.72 crore through their respective public issues. Peshwa Wheat raised Rs 53.52 crore, while Roopa Screen raised Rs 19.20 crore.

Peshwa Wheat IPO: Rs 53.52 crore issue

Peshwa Wheat's IPO was a book-built issue worth Rs 53.52 crore, comprising an entirely fresh issue of 52.99 lakh shares with no offer-for-sale component.

The IPO opened for subscription on September 24 and closed on September 28. The basis of allotment was finalised on September 29, with the shares scheduled to list on the BSE SME platform on October 1.

The issue was subscribed 2.77 times overall. The portion reserved for individual investors was subscribed 1.72 times, while the QIB (excluding anchor) portion was subscribed 177.12 times. The NII category was subscribed 0.35 times.

The company had fixed a price band of Rs 95–101 per share, with a lot size of 1,200 shares. At the upper end of the price band, retail investors were required to apply for a minimum of two lots, or 2,400 shares, involving an investment of Rs 2,42,400.

Finaax Capital Advisors Pvt. Ltd. acted as the book-running lead manager, while Maashitla Securities Pvt. Ltd. was the registrar to the issue.

Peshwa Wheat plans to utilise the IPO proceeds for capital expenditure and working capital requirements. The capital expenditure includes Rs 6.69 crore for the purchase of plant and machinery and Rs 5.01 crore for civil construction. Of the total planned utilisation of Rs 38.20 crore, around Rs 26.50 crore is earmarked for working capital requirements, with the remaining amount proposed to be used for general corporate purposes.

Roopa Screen IPO: Rs 19.20 crore issue

Roopa Screen's IPO was a book-built issue of Rs 19.20 crore, comprising entirely of a fresh issue of 30 lakh shares.

The public issue opened on September 24 and closed on September 28. The basis of allotment was finalised on September 29, and the shares are scheduled to list on the BSE SME platform on October 1.

The IPO received a strong response from investors and was subscribed 271.94 times overall. The individual investor portion was subscribed 529.82 times, while the QIB (excluding anchor) and NII portions were subscribed 44.81 times and 421.94 times, respectively.

The company had fixed the IPO price band at Rs 60–64 per share, with a lot size of 2,000 shares. Retail investors were required to apply for a minimum of two lots, or 4,000 shares, translating into an investment of Rs 2,56,000 at the upper end of the price band.

Seren Capital Pvt. Ltd. was the book-running lead manager, while Bigshare Services Pvt. Ltd. acted as the registrar.

Roopa Screen plans to utilise Rs 9.90 crore from the IPO proceeds towards capital expenditure for setting up a new manufacturing facility. Another Rs 6 crore has been earmarked for working capital requirements, while the remaining funds are proposed to be used for general corporate purposes. The total proposed utilisation under these heads is Rs 15.90 crore.

Roopa Screen GMP: In the grey market, Roopa Screen shares are reportedly commanding a GMP of around 66% over the IPO price. GMP is an unofficial indicator of market sentiment ahead of listing and can change before the shares begin trading. It does not guarantee the actual listing price or listing gains.

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