RailTel, MSTC, Varun Beverages go ex-dividend; Desco, ATC Energies to debut on bourses

The first week of the new fiscal year kicks off with a flurry of corporate actions—ranging from ex-dividend moves by major firms to SME IPO listings—offering investors plenty to track. Companies like United Spirits, MSTC, and RailTel are set to trade ex-dividend starting March 17, while a wave of SME IPO listings will hit the market, even as the broader IPO pipeline remains subdued for now.

Although no new public offers are scheduled, four SME listings—including Desco Infratech and Shri Ahimsa Naturals—will mark the week’s IPO activity. Meanwhile, market watchers are eyeing a ₹2 lakh crore IPO pipeline for FY26, with expected heavyweights like Zepto, Reliance Jio, and LG Electronics preparing their listing plans.

Dividend and bonus action

According to BSE data, here are the key ex-dividend dates for the week:

April 2 (Wednesday)

• ADC India Communications Ltd: ₹25 interim dividend
• MSTC Ltd: ₹4.5 interim dividend
• RailTel Corporation of India Ltd: ₹1 interim dividend

April 3 (Thursday)

United Spirits Ltd: ₹4 interim dividend

April 4 (Friday)

• DCM Shriram Industries Ltd: ₹2 interim dividend
• PH Capital Ltd: ₹0.25 interim dividend
• Unifinz Capital India Ltd: ₹0.5 interim dividend
• Varun Beverages Ltd: ₹0.5 final dividend

Bonus issues

All declared at a 1:1 ratio:

April 2 (Wednesday)

• Capital Trade Links Ltd
• Ranjeet Mechatronics Ltd

April 3 (Thursday)

• Sal Automotive Ltd
• KBC Global Ltd

Other corporate action

Bio Green Papers Ltd: Rights Issue opens April 4

IPO listings to keep an eye on

Though the IPO market has slowed, four SME companies are set to list this week:

• Desco Infratech
• Listing date: April 1
• Platform: BSE SME
• GMP: ₹5 (approximately 3% premium)
• Subscription: 83x overall; 200x in NII category
• Use of proceeds: Capital expenditure, Surat office setup, machinery, working capital

Business: Pipeline laying, commissioning, and O&M services for PNG networks

April 3 (Thursday) will see three SME listings:

• Shri Ahimsa Naturals: Manufacturer of caffeine and herbal extracts; subscribed 60x
• ATC Energies: Lithium-ion battery supplier for banking and automobile sectors; muted response
• Identixweb: No GMP currently; listing on BSE SME

Despite the current lull, analysts expect IPO momentum to pick up in the second half of FY26.