Introduction:
With the Nifty and the Sensex touching all-time highs, the Indian IPO juggernaut is on a roll. 2023 was already a bumper year for IPOs in India, with India emerging as the global leader for IPOs. Even in January 2024, several mainline and SME IPOs hit the Indian market, and the trend is likely to continue in February as well. If you are willing to join the IPO bandwagon, here are some IPOs you can look forward to in February 2024.
IPOs Expected to Hit Markets in February 2024
Below are some IPOs that are likely to hit markets in February 2024. These include:
1. BLS-E Services Ltd
Established in April 2016, BLS-E Services Limited pioneers itself as a digital solutions provider. It specialises in business correspondence services for leading banks in India. It also offers assisted e-services and e-governance solutions, catering to the essential needs of communities nationwide.
The company is a subsidiary of BLS International Services Limited. It offers various essential services to state and provincial governments across multiple continents, including Asia, Europe, Africa, Europe, South and North America, and the Middle East. These services comprise visa, passport, consular, and other citizen-centric services. It stands out as India's sole publicly listed entity, specialising in this sector.
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The public issue will open for subscription on 30 January 2024 and will remain open till 1 February 2024. The issue size of the IPO is estimated to be Rs 310.91 crore with all fresh issues. This entire book-built IPO comprises a fresh issue of 2.3 crore shares.
2. R K Swamy Limited
R K Swamy Limited specialises in integrated marketing communications, customer data analysis, comprehensive market research, and syndicated studies. With a strong emphasis on data-driven strategies, the company employs digital innovations across its various services to deliver effective marketing solutions.
The IPO of R K SWAMY is structured as a book-built issue. Within this offering, there's a combination of fresh shares worth Rs 215 crore and an offer for sale consisting of 0.87 crore shares.
3. Italian Edibles
Established in 2009, Italian Edibles Limited is a company specialising in various confectionery items, including Rabdi (Mithai Sweet), chocolate paste, candies, etc. These are all marketed under its OfCour's brand.
The company has manufacturing facilities located at Gram Palda and Prabhu Toll Kanta in Indore, Madhya Pradesh. The lot size of the IPO is 2000 shares, and the total issue size is Rs 26.66 crore. The price set is Rs 68 per share and the IPO consists entirely of fresh issue of 3,920,000 shares.
4. Apeejay Surrendra Park Hotels Limited
Established in 1987, Apeejay Surrendra Park Hotels Limited is in the hospitality business. The company also has business in the retail food and beverage industry under Flurys. It operates 27 hotels in different Indian cities such as Kolkata, Chennai, Mumbai, New Delhi, Vizag, etc.
The issue size of the company's IPO consists of Rs 600 crore (fresh issue). The offer for sale is of Rs 320 crores. The book-built IPO's lot size is Rs 920 crore.
5. Rashi Peripherals Limited
Rashi Peripherals Limited is a Mumbai-based IT company. It is one of the premier distribution partners for international technology brands such as NVIDIA Corporation, Dell, HP, Lenovo etc. As per the company's draft red herring prospectus, it plans to mop up Rs 750 crore through its IPO, which consists of a fresh issue of shares. There is no offer-for-sale component.
From the proceeds received from the IPO, the company plans to use Rs 400 crore to pay certain borrowings while using the remaining portion to address general corporate needs. The company's shares would be listed on the BSE and NSE.
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Summing it up
As evident, companies across several industry verticals are poised to come up with their IPOs in February 2024. If you want to participate in the growth story of these firms, you can invest in their IPOs. Go through the DRHP to know the risk factors and ensure fair valuations. Consult with professionals in case you need any assistance.
You need a Demat account to participate in any IPO, including the ones mentioned above. You can instantly open a Demat account with Motilal Oswal and start your IPO journey today. To open a Demat account with Motilal Oswal, click here.
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