The bull run in India’s primary market is likely to continue as around 15 mainline IPOs are bound to hit the market between December 2023 and January 2024 as per the reports. The November witnessed a new record when five mainline IPOs namely Tata Technologies, IREDA, Flair Writing, FedFina and Gandhar Oil Refiner raked up bids worth over Rs 2.5 lakh crore in just a week and four of them delivered excellent returns too.
Here are mainline IPOs expected to hit in next two months as per the reports compiled from several media sources:
- DOMS Industries Limited: Rs 1,200 crore IPO; comprising of fresh issue of shares worth Rs 350 crore and OFS of Rs 850 crore. To open on December 13th.
- Muthoot MicroFin Limited: A book built issue of Rs 1,350 crore, consisting of fresh issue of Rs 950 crore and OFS of Rs 400 crore.
- Suraj Estate Developers Limited: Entirely a fresh and book built issue of Rs 400 crore with each equity share at a face value of Rs 5.
- RBZ Jewellers Limited: A book built issue comprising of 1 crore shares for around Rs 100-125 crore.
- Motisons Jewellers Limited: A book built, fresh issue comprising of 3.35 crore shares worth approximately 130 crore with no offer-for-sale.
- Happy Forgings Limited: A book built issue comprising of fresh issue of shares worth Rs 500 crore and OFS of 0.81 crore shares. The Company’s filing to SEBI shows that IPO aims to raise around Rs 1,200-1,300 crore.
- India Shelter Finance Corporation: Rs 1,800 crore IPO comprising of fresh issue of shares worth Rs 1,000 crore and an OFS of Rs 800 crore as per draft papers filed with SEBI.
- INOX India Limited: Rs 1,000 crore IPO including an offer for sale of up to 22,110,955 equity shares (with a face value of ₹2).
- Mukka Proteins Limited: IPO entirely consisting of fresh issue of 8 crore shares. IPO size around Rs 175-200 crore as per reports.
- Innova Captab Limited: Rs 900 crore IPO including a fresh issue of up to Rs 400 crore and an offer-for-sale (OFS) up to 9,600,000 equity shares.
- Apeejay Surrendra Park Hotels Limited: Rs 1,050 crore IPO comprising fresh equity issue of Rs 650 crore and an offer for sale of ₹400 crore.
- Enviro Infra Engineers Limited: IPO comprising sale of 95 lakh equity shares with no OFS component.
- Medi Assist Healthcare Services: Entirely an offer-for-sale (OFS) IPO of up to 2.8 crore shares.
- Polymatech Electronics: Rs 750 crore IPO through sale of of fresh equity shares, no OFS.
Amongst these upcoming mainline IPOs, Suraj Estate Developers, RBZ Jewellers, Motisons Jewellers, Mukka Proteins, Happy Forgings, and Muthoot Microfin are expected in December itself. The rest are bound for January or the months preceding 2024 general elections as the companies will try to avoid uncertain debut.
