Enthused over upbeat investor sentiment, as many as six small and medium enterprises (SMEs) will come out with initial public offers to raise an estimated Rs 65 crore.

So far this month, seven companies have hit the capital markets.

The six firms coming up with IPOs are Jet Knitwears, Nandini Creation, Sakar Healthcare, Valiant Organics, Gretex Industries and Diksat Transworld.

These companies will be listed on small and medium enterprises platforms of the BSE and NSE.

The funds raised through the issue would be used for business expansion plans, working capital requirements and other general corporate purposes.

 Jet Knitwears’ IPO will open for subscription tomorrow, public issues of Nandini Creation, Valiant Organics and Sakar Healthcare would open on September 28, 29 and 3O, respectively, as per information available with the exchanges.

The initial public offerings of Gretex Industries and Diksat Transworld may also open this week, merchant banking sources said.

 These six firms will raise a total of around Rs 65 crore.

In the current fiscal so far, more than 23 SMEs got listed on capital markets with IPOs Rs 185 crore. In comparison, 44 SMEs raised a total of Rs 290 crore in the entire last financial year (2015-16).

The BSE and NSE had launched SME platforms in March 2012, becoming the only two bourses to offer such a segment in the country. Since then, several companies have got listed on them and some have even shifted to the mainboard.

The platform provides opportunity to SME entrepreneurs to raise equity capital for growth and expansion. It also provides immense opportunity for investors to identify and invest in good SMEs at an early stage.

Source: Money Control