SME IPOs Open Today: Subscriptions start for HM Electro Mech and GB Logistics; check price bands, lot size, key dates, and allotment

Two IPOs from the Small and Medium Enterprise (SME) segment— H.M. Electro Mech IPO and GB Logistics Commerce Limited IPO —opened for bidding today, January 24, 2025 (Friday). The price band for the HM Electro Mech IPO is set between Rs 71 and Rs 75 per share , while the price band for GB Logistics is set between Rs 95 and Rs 102 per share.

Let’s take a look at key details of each IPO:

HM Electro Mech IPO

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The HM Electro Mech IPO is opening for bidding today (January 24, 2025), and will close on January 28, 2025. This IPO is a book-built issue with a total size of Rs 27.74 crore, comprising entirely of a fresh issue of 36.99 lakh shares.

The price band for the IPO has been set at Rs 71 to Rs 75 per share. Investors can bid for a minimum lot of 1,600 shares, requiring a minimum investment of Rs 1,20,000 for retail investors. High net-worth individuals (HNIs) must apply for at least 2 lots (3,200 shares), amounting to Rs 2,40,000.

HM Electro Mech: Listing and Allotment

The allotment of shares is expected to be finalised on January 29, 2025, with the shares likely to list on the BSE SME platform on January 31, 2025.

Objectives of Issue

The proceeds from the fresh issue will be utilised to meet the company’s working capital requirements and for general corporate purposes.

HM Electro Mech Overview

Established in 2003, HM Electro Mech Limited is an infrastructure company focused on turnkey projects. Its services include the supply, installation, testing, and commissioning of pumping machinery, along with comprehensive operation and maintenance solutions.

The company’s primary business revolves around electrification projects for Indian Railways, banks, and municipal corporations. It has also ventured into EPC projects, encompassing the construction of cross-country pipelines and civil works for water supply systems, such as water treatment plants, pump houses, diesel generators, panel rooms, instrumentation, and PLC-SCADA systems.

GB Logistics Commerce Limited

The GB Logistics IPO is opening for subscription on January 24, 2025, and will close on January 28, 2025. This IPO is a book-built issue with a total size of Rs 25.07 crore, comprising entirely of a fresh issue of 24.58 lakh shares.

The price band for the IPO has been set at Rs 95 to Rs 102 per share. Investors can bid for a minimum lot of 1,200 shares, requiring a minimum investment of Rs 1,22,400 for retail investors. High net-worth individuals (HNIs) need to apply for at least 2 lots (2,400 shares), amounting to Rs 2,44,800.

GB Logistics: Listing and Allotment

The allotment of shares is expected to be finalised on January 29, 2025, with the shares likely to be listed on the BSE SME platform on January 31, 2025.

Objectives of Issue

The funds raised through the IPO will be utilised for the following purposes:

1. Prepayment or repayment of a portion of the company’s outstanding borrowings
2. Working capital requirements
3. Expenditure towards the purchase of truck chassis and truck bodies
4. General corporate purposes

GB Logistics Company Overview

Incorporated in 2019, GB Logistics Commerce Limited is a logistics company that provides comprehensive services to manage transportation needs. The company offers qualified drivers, a fleet of vehicles, and a charter network, ensuring flexibility, responsiveness, and high-capacity transportation.

GB Logistics primarily focuses on full truckload freight services for large and medium-sized enterprises, efficiently utilising both its own and third-party transportation resources. The company operates in two business segments: logistics and trading of agricultural commodities.