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Hot Picks: Keep an Eye on Upcoming IPOs in December!

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India has taken center stage, surpassing all others in the number of initial public offerings (IPOs) this year. The fervor to secure funds persists despite a downturn in the broader market, influenced by global uncertainties. We saw nearly 170 public offers by Indian firms, solidifying its role as the undisputed global leader in IPOs for the year-to-date in 2023.

What do the Market Analysts Say?

Many companies are eager to raise funds before or after the Indian general elections. The robust economic performance has garnered positive sentiments from local and foreign investors towards India. Market analysts are optimistic, projecting this momentum to persist strongly until 2024.

An eventful Quarter

According to the EY report, the third quarter of 2023 witnessed a remarkable surge with 21 IPOs, starkly contrasting the mere four observed in the corresponding quarter of 2022. The funds generated during Q3 2023 totaled an impressive US$ 1,770 million, reflecting a substantial growth of 376% compared to the US$ 372 million recorded in Q3 2022.

Particularly noteworthy is the remarkable success of Small and Medium Enterprises (SMEs). In Q3 2023 alone, these smaller businesses raised an impressive $165.76 million through 48 IPOs, signaling a positive trajectory for India’s business landscape.

Following a dynamic November, December is poised to introduce several new IPOs in the mainboard and SME segments.

Upcoming IPOs in December

IPO NameOffer PriceOpening DateClosing DateIssue Size
Accent Microcell Ltd.133-1408-12-2312-12-2378.4 Crores
DOMS Industries Ltd. Yet to announce13-12-2315-12-231200 Crores
S J Logistics  Limited IPO121-12512-12-2314-12-2348 Crores
Muthoot Microfin LimitedComing soon1350 Crores
Allied Blenders and DistillersComing Soon2000 Crores
Motisons JewellersComing Soon33.4 Crores

Accent Microcell Limited IPO

Established in 2012, Accent Microcell Ltd has been a reliable producer of cellulose-based excipients for 11 years. These excipients serve various industries, including pharmaceuticals, nutraceuticals, food, and cosmetics.

IPO DateDecember 8 to December 12, 2023
Face Value₹10 per share
Price Band₹133 to ₹140 per share
Lot Size1000 Shares
Total Issue SizeFresh Issue: ₹78.4 Cr
Issue TypeBook Built Issue IPO
Listing AtNSE SME
Source: Chittorgarh

S J Logistics IPO

Founded in December 2003, S J Logistics (India) Limited specializes in delivering its clientele comprehensive logistics and supply chain solutions. The company offers various services, including freight forwarding, customs clearance, and adept transportation handling.

IPO DateDecember 12  to December 14, 2023
Face Value₹10 per share
Price Band₹121 to ₹125 Per Share
Lot Size1000 Shares
Total Issue Size48 Cr
Issue TypeBook Built Issue IPO
Listing AtNSE SME

DOMS Industries Limited IPO

As a critical player in the Indian stationery and art material industry, DOMS Industries offers an extensive range of products. With a steady revenue growth at a CAGR of 43.8% over the last three years, the company attributes its success to a growing demand for quality stationery and strategic market expansions.

IPO DateDecember 13  to December 15, 2023
Face Value₹10 per share
Price BandNot Announced
Lot SizeNot Announced
Total Issue Size1200 Cr
Issue TypeBook Built Issue IPO
Listing AtBSE NSE
Source: Chittorgarh

Muthoot Microfin Limited IPO

Muthoot Microfin Limited is a microfinance institution that provides microloans to female customers in rural India, primarily for income generation. Ranked as the fourth-largest NBFC-MFI in India by gross loan portfolio as of December 31, 2022, according to CRISIL Report, the company is committed to promoting financial inclusion in the grassroots communities.

IPO DateComing Soon
Face Value₹10 per share
Price BandNot Announced
Lot SizeNot Announced
Total Issue Size1350 Cr
Issue TypeBook Built Issue IPO
Listing AtNSE/ BSE
Source: Chittorgarh

Motisons Jewellers

Established in October 1997, Motisons Jeweller Limited sells gold, diamond, and Kundan jewelry alongside various products, including pearl, silver, platinum, and other metals. The company boasts an extensive collection featuring traditional, contemporary, and fusion designs across various jewelry lines.

IPO DateComing Soon
Face Value₹10 per share
Price BandNot Announced
Lot SizeNot Announced
Total Issue SizeNot Announced 
Issue TypeBook Built Issue IPO
Listing AtBSE NSE 

Allied Blenders and Distillers

Established in 2008, Mumbai’s Allied Blenders & Distillers Ltd is the largest Indian-owned IMFL company. Renowned for Officer’s Choice, a top-selling whisky brand, the company has diversified its portfolio to include rum, whisky, brandy, and vodka.

Wrapping Up

India’s soaring IPO performance is a golden opportunity for investors. As the nation takes the lead, it promises a lucrative landscape for those seeking investment avenues. The thriving IPO market exemplifies India’s economic resilience and beckons investors to capitalize on its promising trajectory.

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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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