Dalal Street is gearing up for a bustling IPO season, with as many as 15 companies including LG Electronics India, Vishal Mega Mart, Mobikwik, and Canara Robeco AMC planning listing in December and early January 2025. Together, these public issues aim to raise nearly Rs 20,000 crore from the primary market.
The diverse IPO (initial public offering) pipeline features a mix of fresh equity issuances and offers for sale, spanning sectors from retail and fintech to asset management. It includes both large and SME issues.
Upcoming IPOs 2024-25
1) LG Electronics India: South Korea's LG Electronics Inc has become the latest MNC to move ahead with listing plans of its India unit. The consumer durables giant has filed draft papers with markets regulator SEBI for an IPO by its subsidiary LG Electronics India.
2) Vishal Mega Mart Ltd has announced a price band of Rs 74-78 per share for its upcoming Rs 8,000 crore IPO, which will be open for subscription from December 11-13. Anchor bidding starts a day earlier, on December 10.
3) Blackstone-owned International Gemmological Institute (India) has filed preliminary papers with the capital markets regulator SEBI to raise Rs 4,000 crore through an initial public offering. The company is yet to finalize the exact dates of the issue. The IPO comprises fresh issuance of equity shares worth Rs 1,250 crore, and an offer-for-sale of shares worth Rs 2,750 crore by the sole promoter BCP Asia II TopCo Pte Ltd, an affiliate of funds managed and advised by affiliates of Blackstone.
4) Avanse Financial Services: The company is set to launch Rs 3,500 crore IPO. This comprises a fresh issue of equity shares of up to Rs 1,000 crore and OFS of up to Rs 2,500 crore by the selling shareholders.
5) Inventurus Knowledge Solutions: Maharashtra-based healthcare solutions provider's initial public offer will be open for public subscription during 12-16 December. The bidding for the anchor investors will open for a day on December 11. The issue will be totol OFS.
6) MobiKwik: Digital payments firm One MobiKwik Systems Ltd's Rs 572 crore IPO will begin public subscription on December 11. The price band is set at Rs 265-279 per share. Anchor bidding will begin on December 10, and the issue will close on December 13.
7) Sai Life Sciences: The Hyderabad based firm Sai Life Sciences Ltd has fixed a price band of Rs 522-549 a share for its initial public offering that will open for subscription on December 11. Anchor bidding opens on December 10 and closes on December 13. Allotment is set for December 16, with refunds issued on December 17. The stock will list on exchanges on December 18.
8) Manjushree Technopack: The draft papers filed by Manjushree Technopack for fund raising through IPO have received approval from the capital markets regulator Securities and Exchange Board of India (SEBI). Manjushree Technopack, which had filed draft papers on August 20 this year, plans to raise Rs 3,000 crore through its IPO. The issue dates are yet to be finalized by the company.
9) Canara Robeco AMC and Canara HSBC Life: PSU Canara Bank said it has received approval from the Reserve Bank of India (RBI) to divest its equity stake in two subsidiaries Canara Robeco Asset Management Company (AMC) and Canara HSBC Life Insurance Company via initial public offerings (IPOs). The divestments will involve a 13 percent stake in Canara Robeco AMC and a 14.5 percent stake in Canara HSBC Life Insurance.
10) Ecom Express: Gurugram-based company's IPO will be a mix of fresh issue of equity shares worth Rs 1,284.50 crore and an Offer for Sale (OFS) of shares valued Rs 1,315.50 crore by promoters and other shareholders, the DRHP showed. The dates of the issue are yet to be finalized.
Moreover, 75 companies, including Hyundai Motor India, Swiggy, NTPC Green Energy, Bajaj Housing Finance, Ola Electric Mobility and FirstCry's parent Brainbees Solutions have already mobilised around Rs 1.3 lakh crore collectively via mainboard. This was way higher than Rs 49,436 crore garnered by 57 firms through the route in the entire 2023.
IPO investors over the past five fiscal years have enjoyed significant gains. As many as 236 IPOs were launched between FY21 and FY25 which delivered an average listing gain of 27 per cent for the retail bucket, with current gains soaring to 105 per cent (as of October 31, 2024), according to a PTI report.
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