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Upcoming IPOs In August 2023

11 Sep 2023

When a company decides to become a publicly traded entity by offering its shares to the general public for the first time, it initiates an IPO or Initial Public Offering. This enables individuals, including yourself, to become shareholders and acquire a stake in the company. IPOs are notable milestones for companies as they raise funds for growth and expansion. Additionally, they offer enticing opportunities for investors to capitalise on the early stages of a company's advancement.

Let's discuss the IPOs scheduled for August and the months ahead.

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1. Tata Technologies 

Tata Technologies Ltd. is a global engineering and digital services company. It provides solutions to the automotive, aerospace, and industrial machinery sectors. It is a Tata Motors Limited subsidiary with over 11,000 employees across 27 countries. 

Tata Technologies offers product development, engineering design, manufacturing engineering, digital transformation, and enterprise IT solutions.

IPO Details 
Issue size 95,708,984 shares
Face value Rs 2
Issue type Book Built 
Listing  NSE & BSE
IPO Reservation 
QIB shares <50% of the net issue
HNI shares At least 15% of the net issue 
Retail shares At least 35% of the net issue 

Objectives

The company plans to leverage the advantages of listing its equity shares on the exchanges to boost the brand's image and visibility among current and prospective customers.

2. Arohan Financial 

Arohan Financial Services Ltd. is a Kolkata-based microfinance lender providing loans to low-income and micro-enterprises households. It is a subsidiary of Aavishkaar Group, a social impact investment platform. It operates in 17 states and union territories, with over 2.1 million active borrowers and a gross loan portfolio of Rs. 4,500 crores as of March 2022.

IPO Details 
Fresh Issue  Rs 850 crores
Offer for sale 2,70,55,893 shares
Face value Rs 10
Listing  NSE & BSE
IPO Reservation 
QIB shares Up to 50% of the net issue
HNI shares Up to 15% of the net issue 
Retail shares Up to 35% of the net issue 

Objectives: 

The company intends to use the net proceeds from the fresh issue to augment its capital base, meeting future capital requirements and general corporate purpose.

3. MobiKwik

MobiKwik is one of India's leading digital payment platforms, offering services such as mobile wallet, buy now pay later (BNPL), payment gateway, insurance, and mutual funds. Its platform has over 108 million registered users and 3.45 million merchants. It competes with Paytm, PhonePe, Google Pay, and Amazon Pay.

IPO Details 
Fresh Issue  Rs 1500 crores
Offer for sale Rs 400 crores 
Face value Rs 2
Issue type  Book building 
Listing  NSE & BSE
IPO Reservation 
QIB shares Up to 75% of the net issue
HNI shares Up to 15% of the net issue 

Objectives

The company intends to use the net proceeds from the fresh issue to repay its outstanding borrowings, meet organic or inorganic growth initiatives, and address corporate objectives.

4. Bajaj Energy

Bajaj Energy Ltd. is among the largest private-sector thermal power generation companies in Uttar Pradesh. It has five coal-based power plants with a total capacity of 2,430 MW. It sells power to Uttar Pradesh Power Corporation Limited (UPPCL) under long-term power purchase agreements (PPAs) with a take-or-pay feature. It is also planning to acquire a 79.31% stake in Lalitpur Power Generation Company Limited (LPGCL), which has a 1,980 MW coal-based power plant in Uttar Pradesh.

IPO Details 
Fresh Issue  Rs 5,150 crores
Offer for sale Rs 300 crores 
Face value Rs 10
Listing  NSE & BSE

Objectives

The company intends to use the net proceeds from the fresh issue to purchase the remaining stake in LPGCL from Bajaj Power Ventures and Bajaj Hindusthan Sugar and for general corporate purposes.

5. Ixigo

Ixigo is a leading online travel aggregator in India that offers various services such as booking flights, trains, buses, hotels, and cabs. It also provides travel utility tools and information to help travellers make smarter decisions. Ixigo was founded in 2007 and is headquartered in Gurugram, Haryana.

Recently, Ixigo has acquired two other travel platforms, AbhiBus and ConfirmTkt, to strengthen its presence in the bus and train segments.

IPO Details 
Fresh Issue  Rs 750 crores
Offer for sale Rs 850 crores 
Face value Re 1
Listing  NSE & BSE

Objectives

The company will use the proceeds for organic and inorganic growth strategies and general corporate objectives.

Conclusion

Investing in IPOs offers numerous perks, but before you pick any of the above in future, remember caution is crucial. Conduct thorough research on the company, its financials, and industry trends. Assess the risks associated with the IPO and carefully read the prospectus.

 

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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