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Upcoming IPOs in October 2023

21 Sep 2023

Introduction:

After an action-packed September that witnessed the launch of 13 mainboard IPOs, investors have high hopes from October. Several top-notch private companies are waiting on the banks to come up with their Initial Public Offerings. Learning about them in advance can help you prepare your finances for investment and make informed investing decisions.

Upcoming IPOs in October 2023

Below is the prospective list of the upcoming IPOs in India in October 2023. While some of these IPOs have already been announced, others are awaiting the final approval:

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Balaji Specialty Chemicals

Balaji Speciality Chemicals Limited is a niche chemical manufacturing company with a significant market share. Their chemicals have applications in the pharmaceutical and Agrochemical industries as solvents, corrosion control catalysts, and photographic agents. Some of the top-selling chemicals produced by the company include Ethylenediamine, Diethylenetriamine, Piperazine, Amino Ethyl Ethanol Amines, and Amino Ethy Piperazine.

Although the exact dates are unknown, the Balaji Specialty Chemicals IPO can open for public subscription in the first week of October. The listing may take place somewhere around 15 October. As per the Draft Red Herring Prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI), the company plans to raise approximately Rs. 425 crores through its IPO.

EbixCash Limited

EbixCash Limited will be one of India's biggest IPOs in 2023. The issuing company offers new-age technology services through an integrated business model for B2C and B2B segments. The services span four verticals – Digital Payment Solutions, Financial Technologies, Travel Solutions, and Business Processing Outsourcing (BPO). The company has an established client base in India along with a significant global presence.

Although the exact dates for the IPO are unknown, it can hit the market in mid-October 2023. As per the company’s DRHP, the estimated size of the IPO could be a whopping Rs. 6,000 crores. From the money raised, the company plans to fund the working capital requirements of its subsidiaries, purchase outstanding convertible debentures, and finance strategic acquisitions and investments.

Tata Technologies

Tata Technologies is one of the most awaited IPOs of 2023. It would be the first public issue from the prestigious Tata Group since 2004. The issuing company is a leading service provider in diverse verticals, including engineering, designing, Information Technology (IT), and product lifecycle management. It caters to a range of industries, including automotive and aerospace. As per the Fortune India Infotech Industry Ranking, Tata Technologies is the 15th largest IT company.

After much deliberation, the Tata Technologies IPO can finally hit the D-street in mid-October 2023. The public issue could comprise an offer for sale of 95,708,984 equity shares with a face value of Rs. 2 each. 50% of the offer will be reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and the remaining 15% for retail investors. Other details, such as price band, listing date, lot size, etc., are unknown.

SPC Life Sciences

SPC Life Sciences Limited got SEBI’s nod for floating its IPO in June 2023. The issuing company is engaged in the business of manufacturing and supplying advanced intermediates for certain key active pharmaceutical ingredients. These products have applications in growing therapeutic areas, including cardiovascular vasodilators (anti-platelets), anti-psychotics, and anti-depressants.

Per the company’s DRHP, the IPO could consist of a fresh issue worth Rs. 300 crores and an offer to sell 89.39 lakh equity shares by the promoter, Mr. Snehal Rajivbhai Patel. The SPC Life Sciences IPO can hit the markets during the last week of October 2023. Other details are yet to be known.

ESDS Software

ESDS Software IPO dates are yet to be announced, but it can soon hit the markets as per the speculations. The issuing company is a community cloud service provider on a multi-tenant model. They have 600 enterprises on the Enterprise Community Cloud, 400 banking and financial institutions on the BFSI Community Cloud, and 200 government institutions on it.

As per the DRHP, ESDS Software IPO would comprise a fresh issue of Rs. 322 crores and offer for sale of up to 21,525,000 equity shares of Re. 1 each. Other details are not yet known.

To Conclude

Consider investing in these upcoming IPOs in October 2023 for listing gains or long-term profits. But make sure to back your decisions with proper research and analysis. With Motilal Oswal, you can open a free Demat account and start investing in IPOs seamlessly.

 

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