January’s IPO market started quietly, with only three small‑ and medium‑enterprise (SME) offerings opening for subscription.
Why the market is quiet
Investors are just back from holidays and are waiting to see where the market is headed before putting new money in.
SME IPOs opening this week
Gabion Technologies India
• Issue opens Jan 6, closes Jan 8.
• Raising about ₹29 crore through fresh shares.
• Listed on the BSE SME platform.
• Business: steel gabions and rock‑fall protection used in roads, railways, mining and defence.
• Funds will mainly cover working capital.
Victory Electric Vehicles
• Issue opens Jan 7, closes Jan 9.
• Raising about ₹35 crore at a fixed price.
• Listed on the NSE SME platform.
• Makes electric two‑ and three‑wheelers, especially e‑rickshaws and cargo vehicles.
• Proceeds will fund capital spending and working capital for expansion.
Yajur Fibres
• Issue opens Jan 7, closes Jan 9.
• Target raise of roughly ₹120 crore.
• Listed on the BSE SME platform.
• Processes natural fibres like flax, jute and hemp for use in blended yarns.
• Money will go to new processing plants, capacity expansion, and a subsidiary that will start linen yarn production.
What to watch as a retail investor
- These companies are using most of the money for working capital or capacity growth, so their near‑term performance depends on project execution and demand.
- Margins can be affected by raw‑material prices (e.g., steel for Gabion) or competition (e.g., electric vehicle market).
- Look at the subscription levels and price band when they are announced – strong demand may indicate confidence.
Upcoming large IPO
Later in the week, Bharat Coking Coal Ltd. (BCCL) will launch a ₹1,300 crore offer‑for‑sale, but that is a separate, much larger transaction.
Remember, this is just an overview, not a recommendation. Do your own research and consider your risk tolerance before investing.