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These 3 companies will open their IPOs for subscriptions this week

Sai Swami Metals and Alloys, Amkay Products and Storage Technologies, and Automation will open their IPOs for subscriptions in the coming week.

Published on: Apr 27, 2024 11:04 AM IST
By HT News Desk
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The Dalal Street is set to witness at least three companies opening their initial public offerings (IPO) for subscriptions in the coming week. Sai Swami Metals and Alloys, Amkay Products and Storage Technologies, and Automation will open their IPOs for the subscriptions in the coming week.

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Sai Swami Metals and Alloys IPO

IPO stands for Initial Public Offering and it is when the promoters of the company in question for the first time want to raise additional funds by offering shares of the company.
IPO stands for Initial Public Offering and it is when the promoters of the company in question for the first time want to raise additional funds by offering shares of the company.

Sai Swami Metals' IPO will open for subscription on April 30 and closes on May 3. The company is planning to raise about ₹15 crore through the issue, Economic Times reported.

The price band of IPO has been fixed at ₹60 a piece, where the investors can bid for 2,000 shares in a lot. As per the report, about 50 per cent of the IPO is reserved for retail investors and the remaining for other investors.

Sai Swami Metals is involved in the trading and marketing of stainless steel products.

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Amkay Products IPO

The IPO of Storage Technologies and Automation will be open for subscription from April 30 and close on May 3. The initial issue is priced at ₹73-78 per share and investors can bid for 1,600 shares in a lot.

As per the ET report, 50 percent of the initial public offer is reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

Storage Technologies and Automation specialises in the design, manufacturing, and installation services of metal storage racks and other solutions.

 
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HT News Desk

Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.

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