Upcoming IPOs: Sacheerome, Jainik Power and Cables offers to raise over ₹110 crore; check price bands and key details

Upcoming IPOs: The initial public offerings of fragrance maker Sacheerome and aluminium wire rod manufacturer Jainik Power and Cables will open for public subscription next week. They will collectively raise more than ₹110 crore.

Sacheerome's public offer will hit the primary market on June 9, while the Jainik Power and Cables issue will open on June 10.

Sacheerome IPO

The ₹61.62 crore NSE SME initial share sale of Sacheerome is completely a fresh issuance of 60.41 lakh shares. The price band has been set at ₹96 to ₹102 per share.

A lot, consisting of 1,200 shares, will cost ₹1,22,400 (cut-off price) to retail investors. For high-net-worth individuals, the minimum investment is ₹2,44,800.

The money raised will be utilised for setting up a new manufacturing facility and general corporate purposes.

The issue will conclude on June 11.

Sacheerome Ltd designs and makes fragrances and flavours. Fragrances manufactured by the company are used in industries like personal care and washing, body care, hair care, pet care, men’s grooming, and various other industries.

The firm's flavours are used in bakery, beverage, confectionery, dairy products, oral care, health & nutrition, shisha, seasonings and others.

GYR Capital Advisors is the issue's book-running lead manager , while MUFG Intime India Private Limited is the registrar.

Jainik Power and Cables IPO

Jainik Power and Cables IPO, with a price band of ₹100 to ₹110 per share, is a fresh issue of 46.63 lakh shares worth ₹51.30 crore. There is no offer for sale component. The offer will conclude on June 12.

The objects of the issue are

• Working capital requirements
• Repay debt
• Set up a plant
• General corporate purposes
• Meet issue expenses

A retail investor can apply for a minimum of one lot, consisting of 1,200 shares, valued at ₹1,32,000 (cutoff price). For HNIs, the least investment is ₹2,64,000.

Jainik Power and Cables is engaged in the manufacturing of aluminium wire rods.