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India's primary market is poised for a surge with more than two dozen IPOs expected in the upcoming two months. These offerings aim to amass over Rs 30,000 crore.
According to recent data, SEBI has approved 18 companies to launch IPOs. These companies are targeting to raise over Rs 20,000 crore. Additionally, 37 companies have submitted their DRHPs. They seek to raise over Rs 50,000 crore and are currently awaiting approval.
Upcoming IPOs:
1)Waaree Energies
In December 2023, the Company filed its Draft Red Herring Prospectus (DRHP) with SEBI to launch its IPO. The company plans to issue new shares worth Rs 3,000 crore and offer up to 32 lakh equity shares for sale.
Market sources estimate that Waaree Energies aims to raise between Rs 3,500 crore and Rs 3,700 crore through the IPO. Waaree energies ltd share price is trading around Rs 2300 in the unlisted market.
2)One Mobikwik Systems:
They aim to raise ₹700 crore from its IPO, down from ₹1,900 crore. They may pursue a "pre-IPO placement" of up to ₹140 crore, which would reduce the size of the fresh issue. The company refiled its draft red herring prospectus with SEBI, initially submitted in July 2021.
A total of ₹250 crore will fund financial services expansion. ₹135 crore will expand payment services. Another ₹135 crore will be for tech investments and ₹70.28 crore will be allocated for payment devices. Mobikwik share price is trading at around Rs 600 per share in the unlisted share market.
3)Ola Electric
The Bengaluru-based startup is focused on manufacturing electric vehicles (EVs). It is set to become the first EV startup to list on the stock exchanges.
The company is targeting a valuation of around $6 billion through its IPO. The IPO will consist of a Rs 5,500 crore fresh equity sale and a 95.2 million share OFS, featuring founder Bhavish Aggarwal, SoftBank Vision Fund, and Tiger Global.
4)Emcure Pharma
The Bain Capital-backed entity is based out of Pune. It intends to raise Rs 800 crore through new shares and sell 1.36 crore existing shares from promoters and shareholders.
Emcure Pharma will use its IPO proceeds to repay debts and cover corporate expenses. The company develops, manufactures, and markets pharmaceuticals in various therapeutic areas.
5)Afcons Infrastructure
The Company has filed a DRHP with SEBI to raise ₹7,000 crore through an IPO. They plan to raise ₹1,250 crore via a fresh issue and ₹5,750 crore through an offer for sale. Proceeds will fund capital expenditure, long-term working capital, and debt repayment.
The IPO values Afcons Infra, backed by Shapoorji Pallonji Group, at ₹19,000-20,000 crore. As of December 2023, Goswami Infratech holds 72.35% and Shapoorji Pallonji 16.64%.
6)Allied Blenders and Distillers
They had already secured ₹449 crore from anchor investors a day before its IPO opened for public subscription.The IPO price band is ₹267 to ₹281 per share, with a face value of ₹2. The subscription period runs from Tuesday, June 25, to Thursday, June 27.
Shares are reserved with 50% for QIBs, 15% for NIIs, and 35% for retail investors. Eligible employees will receive a ₹26 per share discount.
7)Premier Energies
This major solar cell and module manufacturer has filed preliminary papers with SEBI for an IPO. The IPO includes a fresh issue of ₹1,500 crore in equity shares and an offer-for-sale of 2.82 crore shares by existing shareholders. Selling shareholders include Investors South Asia Growth Fund II Holdings LLC, South Asia EBT Trust, and promoter Chiranjeev Singh Saluja.
Promoters currently hold 72.23% of the company, with public shareholders and employees holding 26.12% and 1.65% respectively.
8)Asirvad Microfinance
The company plans a Rs 1,500 crore IPO through fresh issuance, with 75% for QIBs, 15% for non-institutional bidders, and 10% for retail investors.
It may also privately place shares worth up to Rs 300 crore, potentially reducing the IPO size. The funds will be used to enhance the capital base and for future business needs, according to the DRHP.
9)Stanley Lifestyles
Their IPO saw overwhelming interest, with a subscription rate of 96.98 times on its final day. Non-institutional investors subscribed 119.52 times, while retail investors subscribed 19.21 times. Qualified Institutional Buyers (QIBs) subscribed at an impressive 222.10 times.
The IPO opened on June 21 and closed on June 25. It comprises a fresh issue of ₹200 crore and an offer-for-sale (OFS) of 9,133,454 equity shares by the promoters and shareholders. The allotment was scheduled for June 26.
10)Shiva Pharmachem
The Vadodara-based specialty chemicals manufacturer plans to raise ₹900 crore through its maiden public issue. The company filed its DRHP with SEBI for an IPO entirely consisting of an offer for sale (OFS) by the promoter and promoter group shareholders.
According to the DRHP, Vishal Rakesh Agrawal and Rahul Rakesh Agrawal will each sell shares worth up to ₹383 crore, while Geetganga Investment Private Limited will sell shares worth ₹134 crore.
11)Bansal Wire Industries
The steel wire maker filed for a ₹745 crore IPO with SEBI, all new equity shares.Proceeds are for debt repayment, working capital, and corporate purposes. The company, operating in high-carbon, mild, and stainless-steel wire segments, plans a new Dadri plant for specialty wires to boost market presence.
12)CJ Darcl Logistics
This Indian logistics firm has filed IPO papers to raise funds. The IPO encompasses a ₹340 crore fresh issue and an offer-for-sale of 54.31 lakh shares by current stakeholders.
From the fresh issue, ₹240 crore will be for debt repayment and ₹10 crore for buying electric vehicles. As of July 2023, the firm's consolidated debt was ₹803.82 crore.
Can I Buy Unlisted Shares?
Yes. Many stocks are traded in unlisted markets before their IPO. For Eg. Waaree Energy and Mobikwik are actively being traded in the unlisted markets to gain before their upcoming IPO.
At Stockify we help investors access unlisted Indian Equity at an early stage via the Pre-IPO route & maximize their wealth. Giving tailored investment solutions and real-time 1 day settlement without any hidden trading cost.
Connect with our experts to learn more.
