Upcoming IPOs In India 2023 | TradeSmart

The Indian stock market has been experiencing a surge in IPO excitement, and this trend is set to continue throughout 2023. Over the past three years, India has set a remarkable precedent by surpassing the IPO count of the previous 15 years. This trend highlights the growing interest and confidence in investing in newly listed companies.

In the future, we can expect IPOs (Initial Public Offerings) to continue being a popular way for companies to raise capital and expand their operations. Technological advancements might streamline the IPO process, making it more accessible to a wider range of businesses. Additionally, we might see increased global participation in IPOs as emerging markets become more prominent.

Leading market analysts hold the view that if the robust market momentum endures, bolstered by substantial FII inflows, the forthcoming IPOs are likely to garner substantial demand, following the pattern of the earlier successful offerings.

Upcoming IPOs in 2023

Here’s your ready reckoner of the latest and upcoming IPOs in India with its listing details.

IPO	Tentative Issue Size (In Rs. Crores)	Tentative Issue Date
GPT Healthcare Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Gandhar Oil Refinery (India) Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Indegene Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Shera Energy Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Viaz Tyres Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Indiafirst Life Insurance Company Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Lohia Corp Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Airox Technologies Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Motisons Jewellers Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Aprameya Engineering Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Amrut Dredging And Shipping Ltd. IPO	50 CrTentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Pristine Logistics & Infraprojects Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Fincare Small Finance Bank Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Balaji Solutions Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Hemani Industries Ltd IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
R & B Infra Project Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Enviro Infra Engineers Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
WAPCOS Ltd IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Infurnia Holdings Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Reetech International Cargo and Courier Ltd. IPO	12 CrTentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Go Digit General Insurance Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Balaji Speciality Chemicals Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
SSBA Innovations Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Shantidoot Infra Services Ltd. IPO	4 CrTentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Mitsu Chem Plast Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Concord Enviro Systems Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Healthvista India Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Innova Captab Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Allied Blenders And Distillers Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Deltatech Gaming Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Stitched Textiles Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
B-Right Real Estate Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Healthy Life Agritec Ltd. IPO	10 CrTentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Paymate India Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Amrut Dredging And Shipping Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	Tentative Issue Date
First Meridian Business Services Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Prasol Chemicals Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
BIBA Fashion Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Gold Plus Glass Industry Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Gujarat Polysol Chemicals Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Joyalukkas India Ltd IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Vikram Solar Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Corrtech International Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Mukka Proteins Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Navi Technologies Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
EbixCash Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
India Exposition Mart Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Suraj Estate Developers Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	18 Dec - 20 Dec '23Tentative Issue Date
Fedbank Financial Services Ltd IPO	-Tentative Issue Size (In Rs. Crores)	22 Nov - 24 Nov '23Tentative Issue Date
Macleods Pharmaceuticals Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Kids Clinic India Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Cogent E-Services Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Imagine Marketing Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
FabIndia Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Sresta Natural Bioproducts Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Course5 Intelligence Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Sanathan Textiles Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Capillary Technologies India Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
TBO Tek Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Hexagon Nutrition Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Bharat FIH Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Asianet Satellite Communications Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Snapdeal Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Maini Precision Products Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Nandan Terry Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
JK Files & Engineering Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Jesons Industries Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Droom Technology Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
API Holdings Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Bajaj Energy IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Mobikwik IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Aadhar Housing Finance IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
Puranik Builders Ltd. IPO	-Tentative Issue Size (In Rs. Crores)	To be announcedTentative Issue Date
*Both, The Issue Size And Date, Is Tentative And Might Vary Once The Issue Goes Live In The Markets.

Adani Wilmar Ltd

Adani Group company Adani Wilmar aims to raise up to Rs 4,500 crore with its upcoming IPO. The edible oil major has draft red herring prospectus (DRHP) with markets regulator Sebi for an initial public offer in the form of fresh issue of new equity shares by AWL for an amount of up to INR 4500 crore. Currently, six Adani group companies are listed on domestic bourses. Adani Wilmar Ltd sells cooking oils under the Fortune brand. It is a major player in the edible oil industry.

MobiKwik

MobiKwik’s upcoming IPO is looking to raise Rs. 1900 crore comprising fresh share issue of up to Rs. 1500 crore. Furthermore, the upcoming IPO will have an offer for sale worth Rs. 400 crore by promoters and certain shareholders. The digital payments start-up is targeting a valuation of approximately $1 billion with this upcoming IPO. Qualified institutional buyers will be allotted 75% of the IPO shares, whereas non-institutional and retail investors will be allotted 15% and 10% of the shares, respectively.

Aditya Birla Sun Life Asset Management Company

The upcoming IPO of Aditya Birla Sun Life Asset Management Company is likely to launch in the last week of September. The country's fourth-largest mutual fund with assets under management (AUM) as of December 2020 at Rs 2.75 lakh crore is looking to raise around Rs 3,000 crore in the share sale. The valuation of the company stands at about Rs 24,000 crore.

Aadhar Housing

The issue size of the upcoming IPO from Aadhar Housing aggregates up to Rs 7,300 crore. The fresh issue of shares component is likely to net the company around Rs 1,500 crore. The remaining Rs. 5,800 crore would go to the promoter of the company, BCP Topco VII Pte Ltd, an entity managed by Blackstone that owns 98.72% in the company. Aadhar Housing Finance will use proceeds from the fresh issue to boost its capital base. The company's capital to risk (weighted) assets ratio stood at 47.84% as of Sept. 30, 2020.

ESAF Small Finance Bank

ESAF Small Finance Bank has filed the DRHP with Sebi to raise Rs 997.78 crore through its upcoming IPO. This upcoming IPO includes a fresh issue of Rs 800 crore and an offer for sale of Rs 197.78 crore by existing selling shareholders. As part of the offer for sale, a promoter will be selling Rs 150 crore worth of shares, PNB Metlife India Insurance Company will offload shares worth Rs 21.33 crore, Bajaj Allianz Life Insurance Company Rs 17.46 crore, PI Ventures LLP Rs 8.73 crore, and John Chakola will selling off shares worth Rs 0.26 crore.

PolicyBazaar

PBFintech is the operator of India's largest online insurance aggregator, PolicyBazaar. The company's platform helps consumers analyse, compare and make informed decisions while buying insurance policies based on different parameters. It offers several insurance plans including life insurance, health insurance, motor insurance, travel insurance as well as group plans. In FY20, Policybazaar was India's largest digital insurance marketplace commanding a lion’s market share of 93.4 percent based on the number of policies sold. Policybazaar was responsible for 65.3 percent of all digital insurance sales in India by volume during the year.

LIC

LIC is a statutory insurance and investment corporation that comes under the ownership of the Ministry of Finance, Government of India. Founded in 1956 by merging nearly 245 insurance companies, LIC is the only insurance company that possesses a strong presence in rural as well as urban areas. As of now, LIC has around 2048 branches in India and there are 8 zonal offices. Apart from zonal branches, there are 112 divisional offices, 1526 satellite offices, and 1,178 mini offices in India. According to IRDAI, LIC collected a massive premium of Rs 1.84 lakh crore in FY21.

Paytm

One97 Communications, the parent company of Paytm, is one of the leading mobile payments and UPI platforms in the country. Founded in 2010, the company now operates in multiple business verticals like wallet, UPI, payments bank, e-commerce, lending, insurance, wealth management, e-games and advertising. It has a user base of about 350 million, out of which 50 million active users, 20 million registered merchant partners and payments bank has 60 million accounts. It reported consolidated revenue of Rs 2,802 crore and losses of Rs 1,701 crore for FY 2022.

Bajaj Energy

Bajaj Energy Limited (BEL) is one of the largest private sector thermal generation firms in Uttar Pradesh. The company has decades of expertise in financing, building, and running thermal power generation facilities. The company has a total gross installed capacity of 2,430MW, comprising 450 MW from five operational plants of 90 MW each, owned and managed by BEL and 1,980 MW from the power plant owned and managed by Lalitpur Power Generation Company Limited (LPGCL).

Paras Defence

Paras Defence and Space Technologies is a Tier 2 defence engineering company engaged in the designing, developing, manufacturing, and testing of a wide range of defence and space engineering products and solutions. The company has five key product verticals which include defence & space optics, niche technologies, defence electronics, heavy engineering and electromagnetic pulse protection solutions. It is India’s only company to bulk manufacture infrared optics. It also has the exclusive capabilities from concept design to commissioning of systems in defence electronics, defence & space optics and defence heavy engineering.

Arohan Financial

Arohan Financial Services is a leading NBFC-MFI with operations in economically low-income states of India. The Kolkata-based company provides loans and other financial inclusion products to financially underserved customers. Its financial services are classified into credit and insurance services. The company’s credit services include income generating loans and other loan products for several household purposes. For its insurance services, the company has forged partnerships with reputed Indian insurance firms for life and health insurance covers.

Nykaa

Nykaa is a leading omnichannel retailer for beauty, wellness and fashion products that caters to the requirements of more than 5 million active users month-on-month. Nykaa offers products from over 2500 brands its websites, apps and 70-plus brick-and-mortar stores across 38 cities over three different store formats. As of 2022, Nykaa has more than 12 warehouses across India that are dedicated to its fashion and beauty products. The firm’s total gross merchandise value (GMV) stood at INR 4045.98 crore in FY21, registering an increase of about 50.7% over FY20.

Studds Accessories

Studds Accessories is a world-leading manufacturer of two-wheeler and motorcycle helmets. It also manufactures two-wheeler lifestyle accessories such as luggage, gloves, helmet security guards, rain suits and eye wear. The company, founded in 1983, now has its presence in over 45 countries and produces around 7 million helmets every year. In 2016, the company launched its premium helmet brand SMK. Studds has four state-of-the-art manufacturing facilities, with world-class infrastructure and a team of trained experts, equipped to deliver over 13 million helmets per year.

Go Air

Go Airlines (India) Limited is an Indian ultra-low-cost airline based in Mumbai, Maharashtra owned by the Indian business conglomerate Wadia Group. Operating over 300 flights daily, the airline flies to over 39 destinations that include 10 international destinations. Recently rebranded as Go First, the airline’s fleet comprises 56 aircraft, of which 46 aircraft are A320 aircraft and 10 are A320 CEO models. The airline currently has an order book of 98 A320 NEO aircraft and will take delivery of eight additional A320 NEOs, in fiscal 2022, 14 in fiscal 2023 and 14 in fiscal 2024.

Shriram Properties

Shriram Properties is one of the leading residential real estate development companies in South India, which primarily caters to the mid-market and affordable housing categories. It is among the five largest residential real estate companies in South India, particularly in Bengaluru and Chennai. Shriram Properties also serves the mid-market premium and luxury housing categories, commercial and office space category as well as plotted development category. As of December 31, 2020, the company has completed 29 projects, representing 16.76 million sq ft of saleable area. Currently, it has 35 ongoing projects, projects under development and upcoming projects with a total projected marketable size of 46.74 million sq ft.

FAQs on upcoming IPOs:

Now that you know all about the upcoming IPOs, you may still have some queries on how to go about applying for an IPO. Here’s a list of Frequently Asked Questions (FAQs) about IPOs that can guide you through your investment journey:

What is an IPO?

An Initial Public Offer (IPO) is the process where a company raises funds by offering its shares to the public in exchange for capital. Any company that complies with SEBI’s requirements can go public.

Do I require a trading account to apply for an IPO?

Yes, you need a trading account to make any trades – IPO or regular stocks – in the stock market. The process of applying for a trade account is similar to that of a regular savings bank account.

What is a lot size?

A lot size refers to a collection of shares. An investor needs to apply for a minimum number of shares to bid for an IPO. If an investor wishes to bid for more shares, he/she can do so in multiples of lot size.

After bidding, where can I check the IPO application and allotment status?

The IPO application and allotment status will be available on the websites of both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Alternatively, the allotment of shares will show in your Demat account.

When can I expect the IPO shares to be credited to my Demat Account?

Different companies follow different timelines. However, you should receive the allotted shares in your Demat account before the listing date of the stock.

Can I apply for an IPO on margin?

Some NBFCs are willing to finance an IPO but only if you are an HNI. This facility is not available to retail investors.

Can companies get listed on stock exchanges without an IPO?

Yes, companies can get listed on stock exchanges without an IPO if they comply with SEBI norms and guidelines.

What is the difference between ‘Fixed Price Issue’ and ‘Book Built Issue’?

When the issuer decides the issue price at the outset and mentions it in the offer document, it is called ‘Fixed Price Issue’. On the other hand, when the price of an issue is based on the demand received from the prospective investors at different price levels, it is called ‘Book Built Issue’.

What is the difference between Initial Public Offering (IPO) and Follow on Public Offering (FPO)?

An IPO is an offer for subscription made by a company that is not listed on any exchange for trading while an FPO is an offer made by an already listed company to issue additional securities.

Can I revise my bid after my application?

Yes, retail investors are allowed to revise their bids or cancel their bids until the Offer Closing Date. However, you will not be allowed to do so if you belong to the NII or QII category.

Can I subscribe to an IPO with a discount broker?

Absolutely, you can subscribe for an IPO through a discount broker. Once your Demat account is set, subscribing to an IPO is easy.

How many IPO applications can I make with one bank account?

You can apply to as many as five IPO applications from the same bank account per issue using ASBA. You can apply for a maximum of three bids per application.

How do I get to know the demand for an issue?

You can find out the status of bidding in a book-built issue on the website of BSE/NSE on a consolidated basis. Category-wise data with regard to the bids are also available. However, for fixed price issues, you can access this information only after the issue is closed.