Introduction:
The Indian stock markets have been highly uncertain of late owing to the ongoing General Elections in the country. The companies willing to launch their Initial Public Offerings (IPOs) have also adopted a cautious approach considering the overall investor sentiments. But despite this uncertainty, the momentum in the primary markets has persisted.
As of May 2024, the markets have already witnessed the launch of as many as 31 mainboard IPOs, with an average listing gain of 26.39%. Additionally, there is significant excitement surrounding small and medium-sized enterprise (SME) IPOs, with over 100 SME IPOs already listed.
June 2024 promises to be another exciting month for Indian IPO investors. Several promising mainboard and SME companies are expected to launch their public issues this month. These companies span various sectors, including engineering, chemicals, pharma, logistics, and more. This blog lists the top upcoming IPOs in June 2024 and the basic details you must know. Keep reading.
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Top upcoming IPOs in June 2024
Below are the top upcoming IPOs in June 2024:
1. Kronox Lab Sciences Limited IPO
Kronox Life Sciences Limited is a leading speciality chemicals manufacturer in India. The company plans to raise up to Rs. 130.15 crores through its IPO, which is expected to open for public subscription from Monday, 3 June 2024. The IPO will be a completely book-built offer, comprising an offer for sale (OFS) of 96 lakh equity shares.
The company has fixed the IPO price band at Rs. 129 to Rs. 136 per share. Retail investors can apply for a minimum of 110 shares (one lot) and in multiples thereof. The minimum amount required for the subscription is Rs. 14,960.
2. Sattrix Information Security Limited IPO
Sattrix Information Security Limited is another top company planning to launch its IPO in the first week of June 2024. The company is the leading cybersecurity solutions provider in India, with its clients spanning international borders. Sattrix Information Security Limited IPO opens for public subscription on Wednesday, 5 June 2024, and will remain open till Friday, 7 June 2024.
Upcoming IPOs to watch: Apply and invest in the future!
This SME IPO will be a fixed-price issue with a price band of Rs. 121 per share and a lot size of 1,000 shares. The minimum investment amount for this IPO would be Rs. 1,21,000. The company may finalise the basis of allotment on 10 June 2024 and the shares may get listed on the National Stock Exchange’s (NSE) SME platform on 12 June 2024.
3. Allied Blenders and Distillers Limited IPO
Allied Blenders and Distillers Limited is the largest Indian-made foreign liquor (IMFL) producer. The company plans to raise up to Rs. 1,500 crores through its IPO comprising a mix of a fresh issue and an offer for sale. The IPO may hit the primary markets in the second week of June 2024. Other details, such as the price band, lot size, etc., are yet to be announced by the company.
As of May 2024, Allied Blenders and Distillers Limited IPO enjoys a robust market share of 8.2% and is known for some popular liquor brands, including ‘The Officer’s Choice’ whiskey. The company plans to use the proceeds from the IPO to repay outstanding debts and fund its financial growth.
4. Shiva Pharmachem Limited IPO
Shiva Pharmachem is a leading producer of pharma and speciality chemicals in India, with more than two decades of industry experience. The company caters to Fortune 500 clients globally and has received the Security and Exchange Board of India’s (SEBI) approval to raise funds through its public issue in June 2024.
For the financial year 2023-24, Shiva Pharmachem Limited reported a 6% increase in revenue, reaching Rs. 1,079 crores, and a 40% rise in net profit, amounting to Rs. 116.65 crores. Such strong financial performances may boost the company’s IPO subscription figures.
5. Asirvad Microfinance IPO
Asirvad Microfinance Limited is a wholly-owned subsidiary of the prestigious Manappuram Finance Company. It has received the SEBI’s nod to raise approximately Rs. 1,500 crores through its IPO, which is expected to hit the D-street in June 2024. The company plans to use the IPO proceeds to augment its capital base.
To conclude
Mentioned above are the top upcoming IPOs in June 2024. You can invest in these IPOs with a medium to long-term perspective. However, it’s essential to consider factors such as the issuing company’s fundamentals, prevailing market conditions, and your precise investment goals before investing.
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