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Upcoming IPOs: The stock market will remain abuzz with these IPOs in April 2024

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01 Apr 20246 mins readBy MOFSL

Introduction:

Initial Public Offerings (IPOs) are always eagerly anticipated events in the financial world. They offer investors the chance to get in on the ground floor of potentially high-growth companies and provide a significant milestone for the companies themselves as they transition from private to public entities.

As we enter the first month of the financial year 2024-25, Indian financial markets are alive with anticipation as numerous companies prepare for their IPOs. April 2024 holds promise for investors, featuring a dynamic array of companies from various sectors including technology, healthcare, and finance making their debut in the primary markets.

 

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

As an investor, you have the chance to partake in the exciting journeys of these promising companies as they venture into the public domain through their forthcoming IPOs. Keep reading to discover the top upcoming IPOs in India in April 2024.

 

  • Bharti Hexacom Limited IPO

Bharti Hexacom Limited IPO will open for public subscription on Wednesday, April 3 and will close on Friday, April 5. The basis of allotment is likely to be finalised on Monday, April 8 and the tentative listing date for the shares is Friday, April 12. The listing will take place on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

As an investor, you can apply for a minimum of 26 shares (one lot) within the price band of Rs. 542 to Rs. 570 per share. Bharti Hexacom is a leading telecommunication services provider in India and a subsidiary of the telecom giant Bharti Airtel. The company is responsible for offering Airtel mobile, fixed landline, and broadband services in Rajasthan and North Eastern states of India.

  • SRM Contractors IPO

SRM Contractors is another company whose IPO will hit the markets in April 2024. The bidding for this Rs. 130 crore IPO opened on March 26 and received a strong response from investors. The IPO was oversubscribed by 86 times when the bidding closes. The shares are expected to get listed on the NSE and the BSE on Wednesday, April 3. The basis of allotment is likely to be finalised on Monday, April 1.

SRM Contractors Limited is engaged in engineering, construction, and development. The company is known for its expertise in roads, tunnels, and civil construction activities. It works in collaboration with the Ministry of Road Transport and Highways to construct civic facilities in Jammu Kashmir and other states of India. As of 31 March 2024, SRM Contractors IPO shares were attracting a GMP of Rs. 126 in the unofficial markets.

  • TAC Infosec Limited

TAC Infosec Limited is the first SME IPO on this list. The company provides risk-based solutions – such as vulnerability management and assessment solutions – to its clients. The operations are based on the SaaS (Software-as-a-Service) model and the company’s diverse client list spans across national and international boundaries. The company has a flagship software known as ESOF (Enterprise Security in One Framework).

The bidding for the TAC Infosec IPO opened on March 27 and will remain open till Tuesday, April 2. The company has fixed the price band as Rs. 100 to Rs. 106 per share and the lot size as 1,200 shares. The shares will be listed on the NSE SME and the BSE SME and the expected listing date is Friday, April 5. 

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  • Ola Electric IPO

Ola Electric IPO is one of the biggest and the most awaited IPOs in 2024. The issuing company is the largest Indian app-based cab service provider. The company has recently forayed into electric vehicle manufacturing with Ola e-scooters. 

As per the draft papers, Ola Electric IPO will comprise a fresh issue of up to Rs. 5,500 crores and an offer for sale of approximately 95 crore equity shares. Although the dates are yet to be announced, investors can witness the launch of this mega IPO in the first month of FY25.

 

To conclude

These are the top companies making their debut in the secondary markets in April 2024. You can invest in their IPOs for listing gains or long-term returns. However, you must conduct thorough research and consider the potential risks before making any investment decisions

 

 

Related Blogs - Top sugar stocks to invest in India in 2024 | Best liquor stocks you can add to your portfolio in 2024 | 5 Best Banking Stocks to Invest in 2024 | Top 5 hotels stocks to buy in India in 2024

 

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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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