Introduction
Launching an Initial Public Offering (IPO) is pivotal in a company's journey. Through IPOs, private companies can go public by issuing their shares to retail investors for the first time. The primary objective of a company going public is capital acquisition to propel expansion plans, including, but not limited to, debt reduction, mergers and acquisitions.
The two compelling motivations for investors participating in an IPO are to either earn listing gains by selling the shares once they start trading or hold the shares for any potential long-term returns. August 2024 is shaping up to be an exciting month for investors, with several companies making their debut in the IPO market set against a backdrop of positive market sentiment.
In this article, you will be introduced to the upcoming IPOs scheduled for launch in August 2024 and essential information relevant to the issuing companies, such as the open and close dates, listing date, issue size and price, and more. Read on to stay informed.
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Upcoming IPOs in August 2024
Four companies have confirmed their IPO launch in August 2024. Two are mainboard IPOs, and the other two are SME IPOs. Below is the list of the upcoming IPOs and their details.
Ola Electric Mobility Limited
One of the most anticipated IPOs is that of Ola Electric, a leading manufacturer of electric vehicles and its core components. The company plans to raise ₹6,145.56 Cr through an issue of fresh shares and an offer for sale amounting to ₹5,500 and ₹645.56 Cr, respectively. Subscription begins on August 2, 2024, and closes on August 6, 2024. This IPO will be listed on both BSE and NSE with a price band of ₹72-76 per share. The minimum lot size is slated at 195 shares, and the minimum investment by a retail investor must be ₹14,820.
Ceigall India Limited
Since its inception in 2002, Ceigall India Limited has over 34 completed projects and 18 ongoing ones on its roster. Founded over two decades ago, this company is a pioneer in infrastructure construction, such as flyovers, elevated roads, and tunnels. With a revenue of ₹3,066 Cr as of March 2024, it launches its ₹1,252,66 Cr IPO to be divided as an offer for sale worth ₹568.41 Cr and ₹684.25 Cr via a fresh issue. The subscription for the same opens and closes on August 1, 2024, and August 5, 2024, respectively. The price band is established at ₹380 to ₹401 per share for the IPO listed on BSE and NSE.
Afcom Holdings Limited
Afcom Holdings Limited, a small and medium enterprise (SME), is set for SME IPO with an issue size of ₹73.38 Cr to be raised through a fresh issue of over 68 lakh shares. The price band is established at around ₹102 to 108 per share for the issue that starts on August 2, 2024, and ends on August 6, 2024. This IPO will be listed on both SME and BSE. The minimum lot size is fixed at 1,200 shares with a minimum investment of ₹129,600 for retail investors. Afcom Holdings operates in several Asian countries, including India, Singapore, Thailand, Japan, South Korea, Hong Kong, and Taiwan, and specialises in cargo transportation on an airport-to-airport basis.
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Dhariwalcorp Limited
The book-built IPO issue for Dhariwalcorp Limited is set at ₹25.15 Cr to be raised via a fresh issue consisting of 23.72 lakh shares with a price band set at ₹102 to ₹106 per share. Though a relatively new company that was founded in 2020, Dhariwalcorp has come a long way and recorded a revenue of ₹231 Cr as of March 2024. The public issue commences on August 1, 2024, and concludes on August 5, 2024, and will be listed on NSE and SME. The minimum lot size is fixed at 1200 shares, while retail investors need a minimum investment of ₹127,200. However, the investment for HNI is around ₹254,400, amounting to two lots as the minimum lot size.
Conclusion
Investors have a lot to look forward to in August 2024 in the Indian IPO market. The upcoming IPOs provide a multitude of investment opportunities. However, as with any other investment decision, investors must carefully evaluate the prospects and make informed decisions to benefit in the IPO market.
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