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Know About the Upcoming IPOs in July 2023

07 Sep 2023

Introduction

IPO or initial public offering is a big moment for any company. It's during an IPO that a company gives its shares to the public for the maiden time. Companies use the money raised from IPOs for various activities such as expansion, product development, repayment, etc. 

With IPOs, investors can participate in growth story of emerging companies. As the IPO action in India continues to gain momentum, let's look at the upcoming IPOs in July 2023. Participating in them gives investors the chance to boost their wealth through stock appreciation. Stay updated on the latest Upcoming IPO 2023!

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Upcoming Ipo In July 2023

1. Penna Cement

Penna Cement is a Hyderabad-based cement firm. It's one of the leading privately held cement companies in India and enjoys a robust presence in south and western India. The company has received SEBI's approval for its Rs. 1,550 crore IPO. While fresh issue comprises Rs 1300 crores, the offer of sale is worth Rs. 250 crores. With the proceeds received, the company plans to:

  • Repay its debt
  • Meet capital expenditure
  • Upgrade its cement and raw grinding mills
  • Set up a state-of-the-art waste heat recovery plant

2. Sterlite Power Transmission Ltd 

Another upcoming IPO in July 2023 could be that of Sterlite Power Transmission Ltd. The company is one of the foremost players in the private segment related to power transmission and infrastructure development. With operations in India and Brazil, the company plans to go for an IPO worth Rs. 1250 crores. 

With the money raised, the company plans to repay its debt. According to reports, the company can also go for a pre-IPO placement amounting to staggering Rs. 220 crores.

3. Fincare Small Finance Bank Ltd

Another notable upcoming IPO in July could be that of Fincare Small Finance Bank Ltd. Initially, the bank started as a microfinance institution in Bengaluru and slowly developed into a small finance bank. They aim to serve underbanked people in rural and semi-urban areas.

As per the company's DRHP with capital market regulator, it is looking forward to an IPO worth Rs. 1,330 crores. While fresh issue is worth Rs. 330 crores, the offer of sale comprises approximately Rs. 1,000 crores. The bank's major aim is to boost its Tier I capital base so that it can easily meet its capital requirements for the future. 

4. Bajaj Energy Limited

Headquartered in Mumbai, Bajaj Energy Limited is one of India's leading thermal power generation companies in the private sector. It has thermal power plants based in different locations in Uttar Pradesh. As per the DRHP filed with SEBI, the company plans to go for an IPO worth Rs. 5450 crores. The face value will be Rs. 10 per equity share.

Through its IPO, the company plans to purchase over 6 crore equity shares of Lalitpur Power Generation Ltd. Funds left post that will be used for other corporate purposes. 

5. Gemini Edibles & Fats India Ltd

Another notable upcoming IPO in July 2023 could be that of Gemini Edible & Fats India Ltd. The company is one of India's growing edible and fats companies and has a distinct presence, particularly in south India. As per the company's DRHP, it plans to raise Rs. 2500 crores through its IPO. With the proceeds received from the IPO, the company plans to:

  • Enhance its brand image and visibility
  • Establish a platform that facilitates the trading of publicly listed equity shares within the Indian market

6. Chemspec Chemicals Ltd

Chemspec Chemicals Ltd is a global leader in the manufacturing of critical additives. The company's client base is across the globe spanning across continents. As per the company's DRHP, it aims to raise funds worth Rs 700 crores. With the funds raised, the company aims to:

  • Increase and enhance its brand visibility
  • Offer liquidity to shareholders

In Conclusion

While these are some of the notable upcoming IPOs in July 2023, their exact date is yet to be finalized. Note that before subscribing to any of these IPOs, you must read the DRHP carefully. It is also essential to understand the strengths and weaknesses of the company along with its financials. You will find all these crucial details in the DHRP. In case you are in doubt, consult with an expert.

Also, if you want to venture into an IPO and buy shares, you need to have a Demat account. With Motilal Oswal, you can open a Demat account within seconds and get going. 

Related Articles: Know the difference between an NFO and an IPO | Advantages of investing in IPOs over secondary markets | What should you read in an IPO prospectus

 

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