The current financial year 2023-24 is witnessing huge primary market activities. If the mega IPO of Life Insurance Corporation worth over Rs 20,000 crore is excluded, the IPO mobilisations this year so far have increased by a huge 76 per cent from last year. The second half of the current fiscal 2023-24 also looks promising, with around 30 companies getting Sebi approval for IPOs where they will collect Rs 40,740 crore.
The current fiscal so far (April-September 2023) has seen 31 mainboard IPOs, compared with 14 IPOs during the year 2022-23.
Mahavir Lunawat, managing director of Pantomath Capital Advisors, said, “The IPO market has been buzzing this fiscal year with at least two to three public offers opening every day. There have been fewer mega IPOs this year compared to last year, as more companies raised smaller tranches of money. But, the IPOs this year have also rewarded investors better.”
With the exception of four companies, every other IPO listed in this financial year gave positive listing gains. Besides, only seven of the 29 IPOs have given single-digit listing gains. The rest all gave double-digit listing gains, he said.
During the week ended October 6, the primary market witnessed 2 mainboard IPOs — Valiant Laboratories and Plaza Wires — open for listing raising an amount of Rs 223.74 crore.
Going forward, the second half of the current fiscal 2023-24 also looks promising, with around 30 companies getting Sebi approval for IPOs where they will collect Rs 40,740 core.
Apart from this, around 38 companies with IPO size of Rs 43,659 crore have filed offer documents and awaiting approval from Sebi.
The largest IPO in the first half of 2023-24 was from Mankind Pharma (Rs 4,326 crore), followed by JSW Infrastructure (Rs 2,800 crore) and RR Kabel (Rs 1,964 crore).
In the last fiscal 2022-23, LIC was the biggest IPO worth over Rs 20,000 crore. Including this IPO, 14 IPO last year raised Rs 35,456 crore, 26 per cent higher compared with the Rs 26,300 crore mobilised by 31 Indian corporates so far this year.
Upcoming IPO This Week
Arvind And Company Shipping IPO: The Rs 14.74-crore SME IPO is going to hit primary market on Thursday, October 12 and will open for bidding till October 16, 2023. The issue is entirely a fresh issue of 32.76 lakh shares.
Upcoming Listings This Week: Between October 9 and October 13
Arabian Petroleum: The oil and lubricant SME company’s shares will be listed on NSE SME
Sunita Tools: The machine parts SME company’s listing will take place on BSE SME
E Factor Experiences: Shares of the event management SME company will be listed on the NSE SME
Goyal Salt: The raw salt SME manufacturer will witness listing on NSE SME
City Crops Agro: Shares of the SME IPO will be listed on BSE SME
Kontor Space: Shares of the renting SME firm will get listed on NSE SME
Oneclick Logistics India: The logistics services SME company’s shares will be listed on NSE SME
Canarys Automations: Shares of the IT solutions provider will get listed on NSE SME
Vivaa Tradecom: Shares of the SME IPO will get listed on BSE SME
Sharp Chucks And Machines: The SME manufacturer’s shares will be listed on NSE SME
Plada Infotech Services: Shares of the SME IPO will get listed on NSE SME
Vishnusurya Projects and Infra: The infrastructure segment SME company’s shares will be listed on the NSE SME
Plaza Wires: The mainboard IPO’s shares will get listed on BSE and NSE
Karnika Industries: Shares of the kids wear SME firm will be listed on NSE SME.