Sancode Tech, MOS Utility & 2 other SME IPOs open for subscription: Check price bands, other details

The last trading day of the current financial year 2022-23 (FY23) would be very busy, at least in terms of SME IPO openings. Four small and medium enterprises have gone public today, namely, Sancode Technologies, MOS Utility, Exhicon Events Media Solutions and Infinium Pharmachem. Sancode Technologies and Exhicon Events would open on the BSE SME segment, while MOS Utility and Infinium Pharmachem would be launched on the NSE Emerge platform.

Here are the key details of these 4 SME IPOs:

Sancode Technologies

The initial public offering (IPO) of Sancode Technologies would remain open for bidding till April 6, 2023. The IPO price has been fixed at Rs 47 per share. The SME company aims to raise Rs 5.15 crore through 10,95,000 fresh issues. Sancode Tech was formerly known as ZNL Startup Advisory. It develops API-based software platforms and solutions.

"Investors should carefully evaluate the risks and opportunities associated with investing in the IPO. While the software solutions industry in India is expected to grow at a steady pace, there are risks associated with the competitive landscape," said Manish Khanna, Co-Founder at Unlisted Assets.

MOS Utility

The SME issue would also close on April 6, 2023. The price band of the initial share sale has been fixed at Rs 72-76 per share. The company aims to raise Rs 49.97 crore through the fresh issuance of 65,74,400 shares. MOS Utility is a technology-enabled provider of digital and financial services to local communities over the last mile.

"Investors looking for a stable and reliable investment option in the growing digital market are expected to take a keen interest in the MOS Utility IPO. With a proven track record and future expansion plans, the company is poised for growth and success in the years to come," Khanna said.

Exhicon Events

The SME IPO would close on April 5 and the price band has been fixed at Rs 61 to Rs 64 per share. It aims to raise Rs 21.12 crore via 33,00,000 fresh issues. The company provides products and services for the exhibition, conferences, and events industry.

"Exhicon Events' IPO presents an opportunity for investors to participate in the growth of a well-established player in the event management and media solutions industry. Investors should conduct their due diligence and assess the company's financial performance and growth prospects before making an investment decision," Khanna said.

Infinium Pharmachem

This SME IPO would also remain open for bidding till April 5, 2023. The IPO price has been fixed at Rs 135 per share. It aims to raise Rs 25.26 crore through 18,75,000 fresh issues. The company manufactures and supplies iodine derivatives, APIs, and iodination reaction-based bulk drugs.

"Investors should carefully consider the risks and opportunities associated with investing in this IPO. While the pharmaceutical industry in India is expected to grow at a robust pace, there are risks associated with the regulatory environment and competition. Overall, Infinium Pharmachem's IPO presents an opportunity for investors to participate in the growth of a leading player in the pharmaceutical intermediates and specialty chemicals industry," Khanna said.

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