The financial year 2022 - 2023 has almost come to a close. Compared to recent years, FY23 has been one of the most lacklustre years as far as Initial Public Offerings are concerned. A mix of tepid market sentiment and high valuations has dampened the investors’ drive to invest in IPOs. As a result, many companies have chosen to either cancel or push their IPOs to the near future.
However, the dawn of the new financial year may see a change in the tide, especially if the markets turn favourable once again. Here’s a quick look at a few of the upcoming IPOs in April in both the mainboard and SME segments that you can consider investing in.
Here’s a compilation of some of the companies that may open their public issues for subscription in April along with the approximate total issue sizes.
|Name of the Company||Issue Size||Issue Opening||Issue Closing|
|AKME Fintrade (India)||1.1 crore equity shares from a fresh issue||To Be Announced||To Be Announced|
|Nova Agritech||₹1,400 crores via a fresh issue and 77,58,620 equity shares via OFS||To Be Announced||To Be Announced|
|MOS Utility||65,74,400 equity shares from both a fresh issue and an OFS||March 31, 2023||April 06, 2023|
|Infinium Pharmachem||₹25.31 crores via fresh issue||March 31, 2023||April 05, 2023|
Let’s now take a look at these companies’ businesses and some of the key details of their upcoming public issues.
Established in 1996, AKME Fintrade (India) Limited is a Non-Banking Financial Corporation (NBFC) registered with the RBI. The company’s primary focus lies in serving the rural and semi-rural regions of the country. AKME Fintrade’s product portfolio includes business financing and vehicle financing, among others. Currently, the company has a presence in 4 states, which include Madhya Pradesh, Rajasthan, Maharashtra and Gujarat.
Through this public issue, the company is planning to raise funds by issuing around 1.1 crores of fresh equity shares. The upcoming IPO of AKME Fintrade (India) does not contain any offer for sale from its promoters or other shareholders. This means that the entire funds raised via this fresh issue would go to the company.
Established in 2009, MOS Utility is a fintech company involved in providing a slew of digital services and products to players in both the B2B (Business to Business) and B2C (Business to Consumer) segments. The company provides services across the following industries - banking, insurance, travel, utility, entertainment, and more.
The total issue of MOS Utility involves a fresh issue of 57,74,400 equity shares and an offer for the sale of 8,00,000 equity shares from the company’s existing shareholders. The issue is slated to open to the public on March 31, 2023, and will go on till April 06, 2023. The pricing of this upcoming IPO in April hasn’t been announced as of now.
Established in 2007, Nova Agritech Limited is involved in the business of manufacturing agri-input products. The company’s products are designed for soil health management and crop protection and nutrition. In addition to these two segments, Nova Agritech also manufactures biostimulants, biopesticides, and integrated pest management (IPM) products. The company boasts of a strong distributor network of more than 10,900 dealers spread across 16 different states in India.
The upcoming IPO of Nova Agritech consists of a fresh issue of equity shares worth ₹1,400 crores. It also has an offer-for-sale component, where a single selling shareholder is planning to offload around 77,58,620 equity shares. The company plans to use the ₹1,400 crores raised via the IPO for setting up a formulation plant, expanding an existing plant and for working capital requirements.
Founded in 2003, Infinium Pharmachem is a manufacturer of pharmaceutical products such as iodine, iodine derivatives, APIs and iodination reaction-based drugs. The company’s FDA-certified and GMP-compliant manufacturing plant is located in Gujarat and is spread across 4,100 square metres. Infinium Pharmachem currently serves more than 15 countries.
The issue of Infinium Pharmachem is a fixed-price IPO where the company is looking to issue around 18,75,000 equity shares in exchange for ₹25.31 crores. The pricing for this upcoming IPO in April has been set at ₹135 per equity share. The public issue will open for subscription on March 31, 2023, and will come to a close on April 05, 2023.
While there is clear data concerning the public issues of MOS Utility and Infinium Pharmachem, the upcoming IPOs of AKME Fintrade (India) and Nova Agritech are still shrouded in mystery. This is because the two mainboard companies are yet to file their final red herring prospectus. More information will be available once they file their RHP with the SEBI.
If you’re looking to invest in any of these upcoming IPOs, you need a Demat account in your name. You can visit the website of Motilal Oswal to digitally open a demat account and a trading account for free.