SVS Ventures IPO: SME issue to open on December 30

SME firm, SVS Ventures will launch its initial public offering on the last working day of 2022. The offer comprises issuance of fresh equity - 56,22,000 shares - at an issue price of ₹20 each. The company aims to raise ₹11.24 crore via the IPO route.

The issue will open on December 30, 2022 and is expected to close on January 4, 2023. The equity shares offered through this offering will be listed on the SME Platform of BSE.

The minimum trading lot size is 6,000 equity shares. Lot size is the minimum number of shares that have to be bought or sold by an investor to participate in an IPO. 50% of the issue is reserved for retail investors and the rest is for non-retail investors.

The Gujarat-based small & medium enterprise is engaged in construction & real estate consultancy. It has launched residential and commercial projects in the past.

The company aims to use the proceeds from the issue to meet the working capital requirements and for general corporate expenses. The company's promoter Shashikant Vedprakash Sharma is also the managing director and CEO of SVS Ventures.

The likely date for IPO allotment is January 9 and the listing of shares is expected on January 12.

First Overseas Capital is the lead manager and BigShare Services is the registrar to the issue.

The company has completed residential and commercial projects such as VR Complex, Vijay Era and Sukriti Sapphire.

The share of small and medium enterprises out of the total companies raising funds through IPO route was quite high this year at 52 out of a total of 88 public offerings on BSE. Only 36 firms have issued an initial public offering on BSE main board in 2022 so far.