Introduction:
November 2023 proved to be a blockbuster month for Indian IPO investors. As many as five mainboard IPOs were launched within two days, four providing more than 50% listing gains. They included the much-anticipated Tata Technologies IPO, which opened at a 140% premium over its issue price on 30 November 2023.
As we move into the final month of 2023, the anticipation for potential investment opportunities continues to rise. After the launch of some megahit IPOs in November, investors are keenly looking forward to investing in more Initial Public Offerings (IPOs) lined up for December 2023.
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Staying well-informed about the upcoming IPOs in December 2023 can help you make informed investment decisions and effectively manage your financial portfolios. In this article, you will find a tentative list of companies that can launch their IPOs in December 2023.
Upcoming IPOs in December 2023
Below are the upcoming IPOs in December 2023. While some of these companies have already announced the subscription dates for their IPOs, others are yet to do so.
Net Avenue Technologies is a Chennai-based company operating a direct-to-consumer online business for Indian ethnic wear and accessories. The subscription window for its IPO ends on Monday, 4 December 2023. It plans to sell up to 56.96 lakh equity shares to public investors and raise approximately Rs. 10.25 crores. The price band for the IPO has been fixed between Rs. 16 to Rs. 18 per share.
As an investor, you can apply for at least 8,000 shares (one lot) and in multiples thereof. The company can finalise the allotment of shares by 7 December 2023 and credit the shares to the Demat accounts of shareholders by 8 December 2023. The shares can be listed at the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) SME platforms on 12 December 2023.
Sheetal Universal Ltd. processes and supplies agricultural products, including peanuts, sesame seeds, grains, spices, etc. It is a business-to-business (B2B) company that mainly caters to the manufacturers of biscuits, cakes, chocolates, etc. The company’s IPO opens for public subscription on Monday, 4 December 2023, and closes on Wednesday, 6 December 2023.
The company intends to raise Rs. 23.80 crores through its IPO, with a minimum lot size of 2000 shares priced at Rs. 70 per share. The potential share allotment and listing dates are 7 December 2023 and 11 December 2023 respectively.
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Allied Blenders and Distillers
One of the biggest companies to float its IPO in December 2023 is Allied Blenders and Distillers Limited. It is one of the largest Indian-made Foreign Liquor (IMFL) companies offering products like whisky, brandy, vodka, and rum. The company's top-selling brands include Officer’s Choice, Officer’s Choice Blue, and Sterling Reserve.
After receiving the Securities and Exchange Board of India’s (SEBI) approval, the company is all set to float its IPO worth approximately Rs. 2,000 crores on 16 December 2023. The shares will be listed on the NSE and BSE. Other IPO details are yet to be released in the public domain.
Muthoot Microfin is a leading Non-Banking Financial Company (NBFC) in South India, particularly Kerela and Tamil Nadu, in terms of gross loan portfolio. It offers micro-loans to female customers and micro, small, and medium-sized enterprises (MSMEs). The company has received SEBI’s approval to raise approximately Rs. 1,350 crores through its IPO.
Although the company has yet to announce the bidding dates for its IPO, it is expected to hit the market in mid-December. As of 31 March 2023, Muthoot Microfin had 1,172 branches across 18 Indian states and 321 districts.
Gujarat-based DOMS Industries Ltd. is another popular name in this list of upcoming IPOs in December 2023. The company is a leading player in India’s stationery market with popular brands like Camlin and HB Pencils. It aims to raise approximately Rs. 1,200 crores through its IPO, comprising a fresh issue and an offer for sale. Other details of the IPO are yet to be known.
To conclude
This is a tentative list and you can see more companies floating their IPOs in December 2023. Investing in these IPOs provides you a chance to become a part of the issuing company’s success stories. If you need a Demat account to invest, you can open it for free with Motilal Oswal.
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