After an IPO drought that began January onwards, March saw three IPOs open for subscription. The trickle is to turn into a flood as a series of companies file their DHRPs and plan on opening for subscription for their respective public issues. Here’s a look at some of the companies that have filed their DRHPs with Sebi and are likely to launch IPOs in FY24.
Aeroflex Industries
Aeroflex Industries, a manufacturer of flexible hoses made from stainless steel, has filed papers with capital markets regulator Sebi to raise Rs 350 crore through an initial public offering (IPO). The IPO includes a fresh issue of equity shares worth up to Rs 160 crore and an offer-for-sale of up to 1.75 crore equity shares by promoters.
IREDA
Indian Renewable Energy Development Agency (IREDA), a state-run renewable energy project financier, is expected to launch an initial public offering (IPO) in FY24. The IPO will involve the government offloading a 10% stake and issuing a 15% fresh equity by the firm to boost its capacity and growth.
Mankind Pharma
ChrysCapital-backed Mankind Pharma plans to raise around Rs 4,500-4,700 crore through an IPO expected to hit the markets by the end of this month or early next month.
Tata Technologies
Tata Technologies, a subsidiary of Tata Motors, has filed papers with Sebi to raise funds via a public issue. Tata Technologies will sell up to 95.7 million shares or 23.6% of the company’s paid-up share capital by OFS. Tata Motors plans offload a 20% stake through the IPO .
JG Chemicals
JG Chemicals, a Kolkata-based zinc oxide manufacturer, received the final observation from the Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering. The IPO will consist of a fresh issue of equity shares worth up to Rs 202.5 crore, as well as an offer-for-sale (OFS) component of 5.7 million equity shares.
Zaggle Prepaid Ocean Services
Fintech player Zaggle Prepaid Ocean Services plans to raise Rs 490 crore through an IPO, with a fresh issue of equity shares and an offer-for-sale component of 1.05 crore stocks by promoters, investors, and other shareholders
Healthvista India
Out-of-hospital healthcare provider Healthvista India, with brand Portea to float IPO, plans to raise up to Rs 200 crore through a fresh issue of equity shares and more through an offer for sale by divesting shareholders..
Cyient DLM
Electronic manufacturing services firm Cyient DLM plans to raise Rs 740 crore through a purely fresh issue of equity shares. The funds raised will be used for funding incremental capital requirements, capital expenditure, debt payment, achieving inorganic growth through acquisitions, and general corporate purposes.
Go Digit General Insurance
After making changes to its DRHP, Go Digit General Insurance refiles its papers with Sebi. The proposed IPO comprises fresh issuance of equity shares worth Rs 1,250 crore and an OFS of 10.94 crore equity shares by a promoter