IPO Pipeline: Primary Market Remains Strong with 30 More IPOs Approved by Sebi, Totalling Rs. 40,700 Crore

There are massive main market activity taking place throughout the current fiscal year 2023–2024. If the massive Life Insurance Corporation IPO worth more than Rs 20,000 crore is omitted, this year’s IPO mobilizations have grown by a staggering 76% over last year. With around 30 firms receiving Sebi clearance for initial public offerings (IPOs) in which they would raise Rs 40,740 crore, the second half of the current fiscal year 2023–24 also seems promising.

There have been 31 mainboard IPOs in the current fiscal year (April through September 2023) as opposed to 14 IPOs in 2022–2023.

According to Pantomath Capital Advisors’ managing director Mahavir Lunawat, “this fiscal year’s IPO market has been bustling with at least two to three public offerings starting every day. Compared to previous year, this year has seen fewer blockbuster IPOs as more firms have raised money in smaller amounts. However, this year’s IPOs have also given investors stronger returns.

Every other IPO issued in this financial year, with the exception of four businesses, had positive listing gains. In addition, just seven of the 29 IPOs had listing gains in the single digits. The remainder, he said, all produced double-digit listing gains.

Two mainboard IPOs, Valiant Laboratories and Plaza Wires, raised a total of Rs 223.74 crore during the week ending October 6 in the primary market.

The second half of the current fiscal 2023–24 also seems positive going ahead, with over 30 firms receiving Sebi clearance for initial public offerings (IPOs) in which they would raise Rs 40,740 core.

In addition to this, about 38 firms have submitted offer paperwork and are seeking Sebi clearance with an IPO amount of Rs 43,659 crore.

Mankind Pharma had the highest initial public offering (IPO) in the first half of 2023–2024 ($4,326 billion), followed by JSW Infrastructure ($2,800 billion) and RR Kabel ($1,964 billion).

The largest IPO in the previous fiscal year 2022–2023 was LIC, which raised over Rs 20,000 crore. With this IPO included, 14 IPO raised Rs 35,456 crore in total last year, a 26% increase over the Rs 26,300 crore raised by 31 Indian corporates so far this year.

Future IPO This Week

The Rs 14.74 crore SME IPO for Arvind and Company Shipping will begin trading on Thursday, October 12, and bidding will be available through October 16, 2023. The whole 32.76 lakh share offering is a new issuance.

This Week’s Upcoming Listings: From October 9 to October 13

9 October

Arabian Petroleum: The shares of this SME oil and lubricant firm will be listed on the NSE SME.

The machine parts SME firm will list on BSE SME, according to Sunita Tools.

Event management SME firm shares will be listed on the NSE SME, according to E Factor Experiences.

10 October

Goyal Salt: The NSE SME will list this raw salt company.

Shares of the SME IPO from City Crops Agro will be listed on the BSE SME.

Shares of the rental SME enterprise Kontor Space will be listed on the NSE SME.

11 October

Oneclick Logistics India: Shares of the SME firm providing logistics services will be listed on the NSE SME

Shares of the IT solutions firm Canarys Automations will list on the NSE SME.

12 October

Shares of the SME IPO would be listed on BSE SME, according to Vivaa Tradecom.

The shares of this SME firm, Sharp Chucks and Machines, will be listed on NSE SME.

Shares of the SME IPO will be listed on NSE SME, according to Plada Infotech Services.

The infrastructure category SME company’s shares would be listed on the NSE SME, according to Vishnusurya Projects and Infra.

13 October

Plaza Wires: The BSE and NSE will list the shares from the mainboard IPO.

Shares of the kids’ clothing SME company Karnika Industries will be listed on the NSE SME.