An Initial Public Offering (IPO) marks the first-time shares of a private company becomes available to the general public. Through an IPO, a company can raise equity capital from public investors, facilitating its transition from a private entity to a publicly traded company.
This transition is significant for private investors as it presents an opportunity to realize gains from their initial investment, often including a share premium for existing private shareholders. Simultaneously, it enables public investors to participate in the offering, providing them with access to shares of the company for the first time.
For savvy investors, putting their money into an IPO is a near sure-fire way to make high returns on companies that are still in nascency. With that said, here are 6 IPOs you need to track closely if investing is your thing.
- Go Digital General Insurance Limited
Go Digital General Insurance Limited is launching its Initial Public Offering (IPO) with a total value of Rs 2,614.65 crores. The IPO comprises a fresh issue of 4.14 crore shares worth Rs 1,125.00 crores and an offer for sale of 5.48 crore shares worth Rs 1,489.65 crores.
Subscription Period
The Go Digit IPO opens for subscription on May 15, 2024, and closes on May 17, 2024. Allotment for the Go Digit IPO is expected to be finalized on Tuesday, May 21, 2024.
Listing Date
Go Digit IPO is scheduled to list on both BSE and NSE with a tentative listing date set for Thursday, May 23, 2024.
Price Band
The price band for the Go Digit IPO is set at ₹258 to ₹272 per share. The minimum lot size for an application is 55 shares.
Investment Requirements
Retail investors need a minimum investment of ₹14,960. For sNII (Non-Institutional Investors), the minimum lot size investment is 14 lots (770 shares), amounting to ₹209,440. For QIBs (Qualified Institutional Buyers), the minimum lot size investment is 67 lots (3,685 shares), amounting to ₹1,002,320.
- Veritaas Advertising
Veritaas Advertising is set to launch its SME IPO, subscription has already begun on May 13, 2024, and the closing is on May 15, 2024. The IPO, valued at ₹8.48 crores, consists entirely of a fresh issue of 7.44 lakh shares.
Price Band
The price band for the SME IPO is fixed at ₹109 to ₹114 per share.
Lead Manager and Registrar
Horizon Management Private Limited is the book running lead manager for the Veritaas Advertising IPO, with Mas Services Limited serving as the registrar for the issue.
Market Maker
Horizon Financial Consultants has been appointed as the market maker for the Veritaas Advertising IPO.
This SME IPO provides an opportunity for investors to participate in the growth potential of Veritaas Advertising.
- Indian Emulsifier
Indian Emulsifier is launching its IPO, it has already opened for subscription on May 13, 2024, and closes on May 16, 2024. The IPO is valued at ₹42.39 crores and consists entirely of a fresh issue of 32.11 lakh shares. Ekadrisht Capital Private Limited is the book running lead manager for the Indian Emulsifier IPO, with Maashitla Securities Private Limited appointed as the registrar for the issue. Ss Corporate Securities has been designated as the market maker for the Indian Emulsifier IPO.
Price Band
The price band for the IPO is set at ₹125 to ₹132 per share. Investors have the opportunity to participate in the growth potential of Indian Emulsifier through this IPO.
Upcoming IPOs in 2024
- Allied Blenders and Distillers
Allied Blenders and Distillers is one of only four spirits companies in India with a nationwide sales and distribution network.
Market Share
It commands an estimated market share of 11.8% in the Indian whisky market for Fiscal 2023.
IPO Plans
The company has reapplied with SEBI to raise ₹1,500 crore through an initial public offering (IPO).
Additional Funding
Allied Blenders and Distillers may consider raising an additional ₹200 crore through a preferential issue or other means before finalizing the red herring prospectus for a pre-IPO placement with the registrar of companies.
- Ola Electronics IPO
Ola Electric Mobility is a prominent electric vehicle (EV) player in India, focusing on building vertically integrated technology and manufacturing capabilities for EVs and EV components, including cells.
IPO Details
OLA Electric Mobility Limited is expected to launch its IPO in 2024, featuring a fresh issue valued at ₹5500 crore and an Offer-for-Sale (OFS) of 95,191,195 Equity Shares.
Share Allotment and Listing
The specific dates for share allotment and listing are yet to be announced.
Growth Projection
Ola Electric anticipates substantial growth in electric two-wheeler (E2W) penetration, with projections indicating an increase from 4.5% in 2023 to a range of 41-56% by 2028.
- PharmEasy IPO
PharmEasy is a healthcare platform catering to consumers by offering online access to medicines, diagnostic tests, and consultations with doctors. PharmEasy provides a compelling value proposition to all stakeholders involved.
Network Reach
The company services a vast network including 87,194 pharmacies, 3,261 wholesalers, 4,617 clinics, prescribing doctors, and 926 hospitals.
User Base
PharmEasy’s online marketplace boasts an impressive user base with 25 million registered users.
IPO Allotment Details
In the IPO, retail investors are set to be allotted 10% of the shares, while qualified institutional buyers will receive 75%. Other non-institutional investors will be allocated 15% of the IPO’s shares.
