This week, there is a lot of excitement in the stock market, with 12 companies preparing to launch their initial public offerings (IPOs). These companies are hoping to raise a total of ₹4,600 crore from investors. In addition to these IPOs, be ready for the listing of 8 IPOs too.
The Securities and Exchange Board of India (SEBI) has more than 65 IPO documents filed, of which the regulatory body has approved 25. The target of ₹4,600 crore is an increase from the ₹4,000 crore raised in the week prior.
Launching the IPOs this week
The IPOs by the mainline and SME entities are all set to offer an opportunity for retail investors to be a part of the growth story of these companies, which have shown strong financial performance and have a competitive edge in their respective domains.
| Company Name | Offer Price | Opening Date | Closing Date | Issue Size |
| Suraj Estate Developers | ₹340 to ₹360 | 18-12-23 | 20-12-23 | ₹400Cr |
| Muthoot Microfinance | ₹277 to ₹291 | 18-12-23 | 20-12-23 | ₹960Cr |
| Azad Engineering | ₹499 to ₹524 | 20-12-23 | 22-12-23 | ₹740Cr |
| RBZ Jewellers | ₹95 to ₹100 | 19-12-23 | 21-12-23 | ₹100Cr |
| Innova Captab | ₹426 to ₹448 | 21-12-23 | 26-12-23 | ₹570Cr |
| Happy Forgings | ₹808 to ₹850 | 19-12-23 | 21-12-23 | ₹1,008.59Cr |
| Credo Brands | ₹266 to ₹280 | 19-12-23 | 21-12-23 | ₹549.78Cr |
| Supreme Power Equipment Ltd | ₹61 to ₹65 | 21-12-23 | 26-12-23 | ₹46.67Cr |
| Indifra Ltd. | ₹65 | 21-12-23 | 26-12-23 | ₹14.04Cr |
| Trident Techlabs Ltd | ₹33 to ₹35 | 21-12-23 | 26-12-23 | ₹16.03Cr |
| Sameera Agro And Infra Limited | ₹180 | 21-12-23 | 27-12-23 | ₹62.64Cr |
IPOs Launching this week
1. Suraj Estate Developers
Operating in the luxury and value luxury segments, the company (established in 1986) specializes in developing residential and commercial real estate in South-Central Mumbai. With a track record of completing 42 projects in the region, it has 13 ongoing projects and 16 upcoming ones.
Through the IPO, Suraj Estates Developers has the objective to utilize:
- Repayment or prepayment of existing debts
- Acquisition of land or land development rights as part of the company’s expansion and growth strategy.
- General corporate needs aligned with ongoing operations and future plans
| IPO Date | December 18-20, 2023 |
| Face Value | ₹5 per share |
| Price Band | ₹340 to ₹360 |
| Lot Size | 41 shares |
| Total Issue Size | ₹400 crore from 1.11 crore shares |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
2. Muthoot Microfinance
Founded in 2011 as a subsidiary of the prominent financial conglomerate, the Muthoot Group, Muthoot Microfin Ltd is a leading microfinance institution (MFI). Catering to more than 5.5 million female entrepreneurs spanning 23 states and 5 union territories, it provides financial solutions such as microloans, group loans, and individual loans.
The company booked 95% on the first day of the IPO opening, 18 December. It proposes to use the net proceeds to:
- Strengthen its capital base for future monetary requirements
- Enhance its brand image among customers
- Create a public market in the country for equity shares.
| IPO Date | December 18-20, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹277 to ₹291 |
| Lot Size | 51 shares |
| Total Issue Size | ₹960 crore from 2.61 crore shares |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
3. Azad Engineering
The Hyderabad, Telangana, company distributes its mission-critical products to original equipment manufacturers (OEMs) in the aerospace, defense, energy, and oil and gas sectors.
Its goals from the IPO capital involve utilizing the net proceeds for:
- Funding capital expenditure
- General corporate requirements
- Settling some debts through repayment or prepayment
| IPO Date | December 20-22 |
| Face Value | ₹2 per share |
| Price Band | ₹499 to ₹524 |
| Lot Size | 28 shares |
| Total Issue Size | ₹740 crore from 1.41 crore shares |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
4. Motison Jewellers
The jewelry company launched the IPO on 18 December to raise ₹151.09 crore through an entirely fresh issue of more than 2.74 crore equity shares at a price band of ₹52 to ₹55 per share. The IPO saw a subscription of 33.14 times on day one.
5. RBZ Jewellers
Since its incorporation in 2008, the Indian gold jewelry manufacturer has specialized in crafting antique designs, including jadau, meena, and kundan work. Selling to wholesale and retail, its clientele comprises esteemed family jewelers across 19 states and 72 cities in India. The jewelers also operate a retail showroom, Harit Zaveri, a prominent player in Ahmedabad.
| IPO Date | December 19-21 |
| Face Value | ₹10 per share |
| Price Band | ₹95 to ₹100 per share |
| Lot Size | 150 Shares |
| Total Issue Size | ₹100 crore through 1 crore shares |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
The gold jewelry manufacturer has already raised more than ₹21 crores from anchor investors. The IPO money raised will be used to fund the company’s working capital and general corporate purposes.
6. Innova Captab
Innova Captab Limited is a pharmaceutical company that offers contract development and manufacturing services to Indian pharmaceutical firms besides engaging with branded generics. After manufacturing and distributing 600+ generics in 2023, the company expanded its reach by exporting to 20 countries in FY2023.
The company plans to use the net proceeds from the fresh issue for:
1. Repayment or prepayment of outstanding company loans
2. Investment in its subsidiary, UML, for repayment or prepayment of loans
3. Meeting the working capital needs
4. General corporate objectives
| IPO Date | December 21–26 |
| Face Value | ₹10 per share |
| Price Band | ₹426 to ₹448 per share |
| Lot Size | 33 Shares |
| Total Issue Size | ₹570.00 Cr crore from 1.2 crore shares |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
7. Happy Forgings
The manufacturer of forged components for the automotive and other industries was founded in July 1979 and is involved in the manufacturing, design, and rigorous testing of crankshafts, front axle carriers, steering knuckles, pinion shafts, etc.
The company intends to use the net proceeds obtained from the IPO for:
1. Acquisition of equipment, plant, and machinery
2. Settling all or some of its debts
3. General corporate requirements.
| IPO Date | December 19-21 |
| Face Value | ₹2 per share |
| Price Band | ₹808 to ₹850 per share |
| Lot Size | 17 Shares |
| Total Issue Size | ₹1008.59 crore from 1.18 crore shares |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
8. Credo Brands
Established in 1999, Credo Brands Marketing Limited introduced its flagship brand, “Mufti,” specializing in men’s casual clothing. From offering shirts, T-shirts, and trousers, the brand has expanded its product line to include sweatshirts, pants, chinos, jackets, etc. Operating 1,773 retail outlets across India, it has a presence in 582 cities.
With the IPO issues, the brand aims to
- Realize the advantages of listing Equity Shares on Stock Exchanges
- Amplify visibility and strengthen brand image
- Facilitate liquidity for Shareholders
- Establish a public market for equity shares in India
| IPO Date | December 19-21 |
| Face Value | ₹2 per share |
| Price Band | ₹266 to ₹280 per share |
| Lot Size | 53 Shares |
| Total Issue Size | ₹549.78 Cr crore from 1.96 crore shares |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
9. Supreme Power Equipment Ltd
Established in 1994, Supreme Power Equipment Limited specializes in producing, enhancing, and refurbishing diverse transformer types and has a manufacturing facility spread over 17,876 square meters in Thiruvallur, Chennai.
The objectives of the issue include:
- Addressing capital expenditure needs
- Covering the company’s working capital requirements
- Attending to general corporate purposes
- Covering issue-related expenses
| IPO Date | December 21–26 |
| Face Value | ₹10 per share |
| Price Band | ₹61 to ₹65 per share |
| Lot Size | 2,000 Shares |
| Total Issue Size | ₹46.67 crore through 71.8 lakh shares |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE, SME |
10. Indifra Ltd
Established in 2009 and formerly called Starleads Consultants Private Limited, Indifra Limited specializes in infrastructure management contracting, gas pipeline installation, and distribution of electrical equipment. As of December 2023, the company is actively engaged in managing gas pipelines for Charotar Gas Sahakari Mandali Limited (CGSML) and has previously collaborated with Adani Gas Limited.
Its primary objectives through the IPO proposal are:
- Meeting working capital needs
- Addressing general corporate objectives and financing investments for acquisitions
- Covering expenses related to the public issue
| IPO Date | December 21–26 |
| Face Value | ₹10 per share |
| Price Band | ₹65 |
| Lot Size | 2,000 Shares |
| Total Issue Size | ₹14.04 crore through 21.49 lakh shares |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE, SME |
11. Trident Techlabs Ltd
The provider of IT services and solutions to businesses was founded in 2000 and offers tech-based solutions to diverse industries such as aerospace, defense, automotive, telecommunications, semiconductor, and power distribution. The company operates across two sectors – engineering solutions and power system solutions. Trident Techlabs employs over 100 engineers and professionals.
The company intends to use the net proceeds for:
1. Financing the Company’s working capital requirements.
2. Covering general corporate needs.
The agro-processing and infrastructure development company is seeking ₹62.64 crore through its IPO, with a price band of ₹180 per share and a total issue of 3.50 lakh equity shares.
| IPO Date | December 21–26 |
| Face Value | ₹10 per share |
| Price Band | ₹33 to ₹35 per share |
| Lot Size | 4,000 Shares |
| Total Issue Size | ₹16.03 crore through 45.8 lakh shares |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE, SME |
12. Sameera Agro And Infra Limited
Established in 2002, Sameera Agro And Infra Limited, formerly Sameera Homes Private Limited, operates as an infrastructure development and construction firm. The company specializes in planning, developing, and building residential and commercial spaces, flyovers, subways, industrial parks, laying water pipelines, gas pipelines, and related projects.
The company that entered into agricultural commodities such as pulses, cereals, and grains in 2021 proposes to use the net proceeds from the fresh issue for:
1. Completion of ongoing projects.
2. Construction of a new multiplex.
3. Fulfillment of existing working capital needs for the agro-business.
4. Covering general corporate expenses.
| IPO Date | December 21–27 |
| Face Value | ₹10 per share |
| Price Band | ₹180 per share |
| Lot Size | 800 Shares |
| Total Issue Size | ₹62.64 crore through 3.50 lakh shares |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
The 8 IPOs Listing this Week
As the above companies open their IPOs, there will be more action in the primary market as some giants await listing simultaneously. These are:
- DOM Pens
- INOX India
- SJ Logistics
- India Shelter Finance Corporation
- Siyaram Recycling Industries
- Shri OSFM E-mobility
- Presstonic Engineering
- Benchmark Computer Solutions
While these IPOs add to the stock market’s diversity, attracting interest from investors because of the companies’ and sectors’ growth prospects, investors should thoroughly research and vet their risk tolerance before investing in any IPO.
However, investors should also be cautious and do their due diligence in researching and vetting their risk tolerance before investing in any IPO.
QUICK LINKS:
CURRENT IPOS | LISTED IPOS | UPCOMING IPOS
Also Read:
How To Make Passive Income | AI Stocks
What is compounding | How to Invest in Shares Pre-IPO
I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.