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The Dalaal Street Dozen: 12 Upcoming IPOs to Raise ₹4,600 crore this Week

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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 NameOffer PriceOpening DateClosing DateIssue Size
Suraj Estate Developers₹340 to ₹36018-12-2320-12-23₹400Cr
Muthoot Microfinance₹277 to ₹29118-12-2320-12-23₹960Cr
Azad Engineering₹499 to ₹52420-12-2322-12-23₹740Cr
RBZ Jewellers₹95 to ₹10019-12-2321-12-23₹100Cr
Innova Captab₹426 to ₹44821-12-2326-12-23₹570Cr
Happy Forgings₹808 to ₹85019-12-2321-12-23₹1,008.59Cr
Credo Brands₹266 to ₹28019-12-2321-12-23₹549.78Cr
Supreme Power Equipment Ltd₹61 to ₹6521-12-2326-12-23₹46.67Cr
Indifra Ltd.₹6521-12-2326-12-23₹14.04Cr
Trident Techlabs Ltd₹33 to ₹3521-12-2326-12-23₹16.03Cr
Sameera Agro And Infra Limited₹18021-12-2327-12-23₹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:  

  1. Repayment or prepayment of existing debts
  2. Acquisition of land or land development rights as part of the company’s expansion and growth strategy.
  3. General corporate needs aligned with ongoing operations and future plans
IPO DateDecember 18-20, 2023
Face Value₹5 per share
Price Band₹340 to ₹360
Lot Size41 shares
Total Issue Size₹400 crore from 1.11 crore shares
Issue TypeBook Built Issue IPO
Listing AtBSE, 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:

  1. Strengthen its capital base for future monetary requirements
  2. Enhance its brand image among customers 
  3. Create a public market in the country for equity shares.  
IPO DateDecember 18-20, 2023
Face Value₹10 per share
Price Band₹277 to ₹291 
Lot Size51 shares
Total Issue Size₹960 crore from 2.61 crore shares
Issue TypeBook Built Issue IPO
Listing AtBSE, 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:

  1. Funding capital expenditure 
  2. General corporate requirements
  3. Settling some debts through repayment or prepayment 
IPO DateDecember 20-22 
Face Value₹2 per share
Price Band₹499 to ₹524 
Lot Size28 shares
Total Issue Size₹740 crore from 1.41 crore shares
Issue TypeBook Built Issue IPO
Listing AtBSE, 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 DateDecember 19-21 
Face Value₹10 per share
Price Band₹95 to ₹100 per share
Lot Size150 Shares
Total Issue Size₹100 crore through 1 crore shares
Issue TypeBook Built Issue IPO
Listing AtBSE, 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 DateDecember 21–26 
Face Value₹10 per share
Price Band₹426 to ₹448 per share
Lot Size33 Shares
Total Issue Size₹570.00 Cr crore from 1.2 crore shares
Issue TypeBook Built Issue IPO
Listing AtBSE, 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 DateDecember 19-21 
Face Value₹2 per share
Price Band₹808 to ₹850 per share
Lot Size17 Shares
Total Issue Size₹1008.59 crore from 1.18 crore shares
Issue TypeBook Built Issue IPO
Listing AtBSE, 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 

  1. Realize the advantages of listing Equity Shares on Stock Exchanges 
  2. Amplify visibility and strengthen brand image
  3. Facilitate liquidity for Shareholders
  4. Establish a public market for equity shares in India
IPO DateDecember 19-21 
Face Value₹2 per share
Price Band₹266 to ₹280 per share
Lot Size53 Shares
Total Issue Size₹549.78 Cr crore from 1.96 crore shares
Issue TypeBook Built Issue IPO
Listing AtBSE, 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:

  1. Addressing capital expenditure needs
  2. Covering the company’s working capital requirements
  3. Attending to general corporate purposes
  4. Covering issue-related expenses
IPO DateDecember 21–26 
Face Value₹10 per share
Price Band₹61 to ₹65 per share
Lot Size2,000 Shares
Total Issue Size₹46.67 crore through 71.8 lakh shares
Issue TypeBook Built Issue IPO
Listing AtNSE, 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:

  1. Meeting working capital needs
  2. Addressing general corporate objectives and financing investments for acquisitions
  3. Covering expenses related to the public issue
IPO DateDecember 21–26 
Face Value₹10 per share
Price Band₹65 
Lot Size2,000 Shares
Total Issue Size₹14.04  crore through 21.49 lakh shares
Issue TypeFixed Price Issue IPO
Listing AtBSE, 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 DateDecember 21–26 
Face Value₹10 per share
Price Band₹33 to ₹35 per share
Lot Size4,000 Shares
Total Issue Size₹16.03 crore through 45.8 lakh shares
Issue TypeBook Built Issue IPO
Listing AtNSE, 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 DateDecember 21–27 
Face Value₹10 per share
Price Band₹180 per share
Lot Size800 Shares
Total Issue Size₹62.64 crore through 3.50 lakh shares
Issue TypeBook Built Issue IPO
Listing AtNSE 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:

  1. DOM Pens
  2. INOX India
  3. SJ Logistics
  4. India Shelter Finance Corporation
  5. Siyaram Recycling Industries
  6. Shri OSFM E-mobility
  7. Presstonic Engineering 
  8. 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:

Also Read:
How To Make Passive Income | AI Stocks
What is compounding
| How to Invest in Shares Pre-IPO

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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.

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