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Upcoming IPOs in September 2023

25 Oct 2023

Introduction:

The Indian stock market is currently in a frenzy mode. Indices are at record highs; subsequently, private companies are looking to cash in on the opportunity to get strong listings on the bourses. Every day or the other, an Initial Public Offering (IPO) is hitting the street, and most of them are getting overwhelming responses from investors.

Until the middle of August, more than 16 mainstream companies have successfully launched their IPOs in 2023, raising more than Rs. 100 billion from the public. Furthermore, around 42 companies are expected to tap the equity markets in the upcoming months to generate approximately Rs. 540 billion.

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If you like to keep a close eye on the latest public offerings, this article could help. Here, you’ll find a list of the top five upcoming IPOs in September 2023. While some have already been announced, others are expected to get the final nod in a few days.

Upcoming IPOs in September 2023

Below is the list of IPOs expected to hit the market in September 2023:

  • Rishabh Instruments Limited

Rishabh Instruments Limited is an India-based energy efficiency solutions provider. It offers electrical automation, metering and measurement, and precision-engineered products to clients across power, automotive, and others sectors. The company also supplies an array of electrical measurement and process optimization equipment.

Rishabh Instruments IPO opens for public bidding on 30 August 2023 and will remain open till 1 September 2023. The shares should be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on 11 September. As an investor, you can bid for multiple lots in the price band of Rs. 418 to Rs. 441 per share, each containing 34 shares.

  • Ratnaveer Precision Engineering Limited

Ratnaveer Precision Engineering Limited is another company that has announced its IPO for September 2023. It manufactures finished Stainless Steel (SS) products, including sheets, washers, roofing hooks, pipes, and tubes. For the Financial Year 2023, the company reported a net profit of Rs. 25.04 crore, up from Rs. 9.48 crore in FY 2022.

Ratnaveer Precision Engineering IPO will open for public subscription on 4 September 2023 and comprises a fresh issue of 1.38 crore equity shares and an offer for sale of up to 30.4 lakh equity shares. The IPO can get listed on the exchanges on 14 September. Other details, such as price band, lot size, etc., are unknown.

  • Balaji Specialty Chemicals Limited

Balaji Specialty Chemicals Limited is a leading manufacturer of niche chemicals in India. Its product portfolio includes Ethylenediamine, Piperazine, Amino Ethyl Ethanol Amines, Diethylenetriamine, and Amino Ethy Piperazine. These products are primarily used in pharmaceutical and Agrochemical industries as solvents, corrosion control agents, and photographic chemicals.

Although the precise details are not yet public, Balaji Specialty Chemicals IPO can hit the street in the first or second week of September 2023. As per the company’s Draft Red Herring Prospectus (DRHP), it plans to raise around Rs. 425 crores from its upcoming IPO.

  • EbixCash Limited

EbixCash Limited is a leading new-age technology provider for B2C and B2B segments through an integrated business model. Its services can be classified into four verticals: Payment Solutions, Travel Solutions, Financial Technologies, and Business Processing Outsourcing (BPO). The company is among the largest technology service providers in India with an established global presence.

EbixCash Limited plans to raise Rs. 6,000 crores from its IPO, slated to hit the market in mid-September 2023. The company has yet to announce other crucial details, such as price band, lot size, listing date, etc.

  • Tata Technologies

Investors are awaiting the launch of the Tata Technologies IPO with bated breath. It would be the first IPO from the prestigious Tata Group in almost two decades. Tata Technologies offers various services, including engineering and designing, product lifecycle management, and IT service management.

After months of deliberation, the company can launch its IPO in September 2023. Tata Technologies’ unlisted shares are already trading in the range of Rs. 800 to Rs. 900 per share in the grey market.

To conclude

These are the top upcoming IPOs in September 2023 in India. They make solid propositions for listing gains and long-term profits. If you want to invest in these IPOs, you can open a free two-in-one Demat account with Motilal Oswal. But before investing your hard-earned money, make it a point to understand a company’s strengths and weaknesses along with the financials.

 

Related Articles: Clearing the confusion from IPOs | 5 Tips for Investing In IPOs | 

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