The primary market action is largely muted this week starting from April 20 despite improving market sentiment, as only one IPO is scheduled for launch later in the week. Bangalore-based Leapfrog Engineering Services will open its initial public offering (IPO) on April 22, with a price band of Rs 21-23 per share. The company aims to raise Rs 88.51 crore via a public issue of 3.84 crore equity shares.
The IPO consists of 3.46 crore fresh equity shares and an offer-for-sale of 38.76 lakh shares by promoter Prabhav Narasimha Rao. Meanwhile, Rajkot-based Mehul Telecom will close its Rs 27.73-crore IPO for subscription on April 21, which saw healthy 3.38 times subscription on the first day, April 17.
The public issue of Citius Transnet Investment Trust will remain open until April 21 and was subscribed 69 percent as of April 17. On the listing front, only two companies will be available for trading this week. Property Share Investment Trust’s Propshare Celestia will debut on the BSE on April 24, while Mehul Telecom will commence trading on the BSE SME on the same day.
