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Mark Your Calendar: Here are the Top Upcoming IPOs in March 2024

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Published Date: 07 Mar 2024Updated Date: 13 Sep 20246 mins readBy MOFSL
Upcoming IPOs

Introduction:

As we enter the third month of 2024, the Indian financial markets are abuzz with anticipation as several companies gear up for their Initial Public Offerings (IPOs). March 2024 promises to be an exciting month for investors, with a diverse range of companies spanning industries such as technology, healthcare, and finance going public.

As an investor, you can seize the opportunity to join the exciting journeys of these promising companies as they embark on their public debut through their upcoming IPOs. Keeping yourself well-informed is crucial for making informed investment decisions and constructing a resilient portfolio. Continue reading to explore the top upcoming IPOs in India in March 2024.

1. Mukka Proteins IPO

Mukka Proteins Limited is engaged in the production of animal proteins, particularly fish meal, fish oil, and fish-soluble pastes. The company also develops alternative proteins, such as Black Soldier Fly (BSF). The company’s clientele includes almost all major aquafeed giants in various countries, including Hong Kong, Vietnam, China, Bangladesh, Turkey, Oman, Denmark, Chile, and the United States of America (USA).

 

Upcoming IPOs to watch: Apply and invest in the future!

Mukka Proteins' IPO is already open for public subscription and will close on Monday, March 4, 2024. The IPO comprises a fresh issue of approximately 8 crore equity shares worth Rs. 224 crores. As a retail investor, you can apply within the price band of Rs. 26 to Rs. 28 per share for a minimum of 535 shares (one lot) and in multiples thereof.

2. R K Swamy IPO

R K Swamy Limited is a prominent integrated marketing service provider in India. The company provides unified solutions encompassing creative, media, data analytics, and market research services. According to the CRISIL Report, it holds the eighth position in terms of estimated operating revenue among integrated marketing communications services groups in India.

R K Swamy's IPO will open for public subscription on Monday, 4 March 2024, and close on Wednesday, 6 March 2024. The IPO will be a combination of a fresh issue and an offer for sale worth Rs. 423.56 crores. You can apply for a minimum of 50 shares (one lot) within the price band of Rs. 270 to Rs. 288 per share.

3. J.G. Chemicals IPO

Incorporated in 2001, J.G. Chemicals Limited is India's leading producer of zinc oxide in terms of revenue and production. The chemical has applications in tyre manufacturing, paint, and footwear industries. As of March 2022, the company boasts a market share of more than 30% and sells more than 80 grades of zinc oxide worldwide. Globally, the company ranks among the top 10 producers of zinc oxide.

J.G. Chemicals IPO will open for public subscription on Tuesday, 5 March 2024, and closes on Thursday, 7 March 2024. The IPO will combine a fresh issue and an offer for sale worth Rs. 251.19 crores. You can apply for a minimum of 67 shares (one lot) within the price band of Rs. 210 to Rs. 221 per share.

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4. Gopal Snacks IPO

Gopal Snacks Limited is based in Rajkot, Gujarat, and is engaged in marketing Namkeen, Farsan, and other ready-made snacking food products. The Rs. 650-crore IPO will open for public subscription on Wednesday, 6 March 2024 and closes on 11 March 2024. The company has fixed the price band as Rs. 381 to Rs. 401 per equity share with a lot size of 37 shares. Comprising a combination of a fresh issue and an offer for sale, the IPO size is estimated to be approximately Rs. 650 crores.

5. Allied Blenders and Distillers

Allied Blenders and Distillers is an India-based foreign liquor manufacturer. The company has recently received approval from the Securities and Exchange Board of India (SEBI) to raise up to Rs. 1,500 crores from public investors. The IPO is expected to hit the markets in the first half of March 2024. Other details such as IPO size, price band, lot size, etc. are yet to be announced.

To conclude

March 2024 is shaping up to be a dynamic month for the Indian stock market, with a diverse range of companies entering the IPO arena. However, investing in IPOs requires thorough research about the company’s fundamentals, risks, strengths, etc. Before making final investment decisions, you must also consider the prevailing market conditions and your financial objectives

 

Related Articles:  How to Analyse an IPO | What is IPO Grading? | What is Cut Off Price In IPO Application 

 

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Disclaimer: The stocks, companies, or financial instruments mentioned in this blog are for informational purposes only and should not be considered as investment recommendations. It is advised to consult with your financial advisor before making any investment decisions. Investment in securities markets are subject to market risks, read all the related documents carefully before investing. Investors are strongly encouraged to carefully read the risk disclosure documents prior to participating in market-related investments or trading activities. Due to the volatile nature of financial markets, no guarantees can be made regarding investment returns. Motilal Oswal Financial Services Ltd. does not offer any assured returns on market-linked securities. Please note that past performance of stocks or indices is not indicative of future results.
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