SK Minerals, Shlokka Dyes, Sihora Industries IPOs Close with Strong Subscriptions

The IPO season saw robust investor participation as SK Minerals, Shlokka Dyes, and Sihora Industries wrapped up their public issues. All three companies are set to announce share allotments on October 15, with trading on stock exchanges to begin October 17.

Market Performance

• SK Minerals IPO: Closed with 3.35 times subscription
• Shlokka Dyes IPO: Subscribed 1.11 times
• Sihora Industries IPO: Subscribed 1.26 times

Investor interest was strong across categories, with non-institutional investors leading in SK Minerals’ issue and retail support evident for Shlokka Dyes and Sihora Industries.

SK Minerals IPO Details

Punjab-based SK Minerals specializes in trading and manufacturing specialty chemicals, with a focus on food and feed additives.

• IPO Size: ₹41.15 crore
• Price Band: ₹120–127 per share
• Shares on Offer: 32.4 lakh
• Subscription: 3.35 times, with 77.56 lakh shares bid via 2,256 applications

Breakdown by investor category:

• Non-institutional investors: 5.56 times
• Retail investors: 3.4 times
• Qualified Institutional Buyers (QIBs): 1.01 times

Use of proceeds: Working capital, plant and machinery acquisition, and general corporate purposes.

Shlokka Dyes IPO Details

Shlokka Dyes produces reactive dyes widely used in the textile industry. The IPO experienced strong subscription after being extended twice since September 30.

• IPO Size: ₹57.79 crore
• Price Band: ₹88–91 per share
• Shares on Offer: 63.5 lakh
• Subscription: 1.11 times via 1,151 applications

Investor subscription breakdown:

• Non-institutional investors: 2.03 times
• QIBs: 1.02 times
• Retail investors: 66%

Use of proceeds: Capital expenditure on plant and machinery, debt repayment, working capital, and general corporate purposes.

Sihora Industries IPO Details

Sihora Industries manufactures narrow woven fabrics, lace, labels, tapes, zippers, elastics, and other textile products for fashion and industrial sectors.

• IPO Size: ₹10.56 crore
• Shares on Offer: 16 lakh
• Subscription: 1.26 times via 300 applications

Use of proceeds: Plant and machinery purchase, debt repayment, working capital, and general corporate purposes.

Summary

Investor response reflects confidence in mid-sized manufacturing and textile firms. SK Minerals led the pack with strong demand across non-institutional and retail segments. Shlokka Dyes and Sihora Industries also demonstrated steady subscription momentum. Share allotments are scheduled for October 15, with trading to start on October 17.