Upcoming IPOs in India 2023: SBFC Finance, NSDL, Tata Technologies among others set to launch their IPO this year
IPO or Initial Public Offering is when a private corporation offers its shares to the public for the first time to raise equity capital. It allows private investors to realize gains and offers a chance for the public to invest too. Big names like NSDL, Tata Technologies and Pharmeasy are all set to go public this year. The details for the upcoming IPOs are given below:
IPO details: SBFC Finance, is a non-deposit taking Non-Banking Finance Company is set to open its IPO for subscription on 3 August 2023 to 7 August 2023. The set IPO price range is Rs. 54 to Rs. 57 with a lot size of 260 shares with a minimum investment of Rs. 14,040. The listing date of the IPO is 16 August 2023. The total IPO size is Rs. 1025 crore which includes a Rs. 600 Crore fresh issue and Rs. 425 crore Offer-for-Sale (OFS).
|IPO Open and Close Date||3 August 2023 - 7 August 2023|
|IPO price range||Rs. 54 to Rs. 57|
|IPO size||Rs. 1025 Crores|
|Listing Date||16 August 2023|
About SBFC finance: The company's primary services include Secured MSME Loans and Loans against Gold. The company has a network of 137 branches across 105 cities with a total customer base of nearly 95000.
Objectives of the IPO: The inflow from OFS and fresh issue will purely be used to support loan growth and to provide financing for the capital needs that will emerge from the expansion and development of the business and its assets.
Financials: The company’s profit after tax grew 132% from FY22 to FY23 aided by growth in MSME loan disbursements, which stood at Rs. 2276.8 crores in FY23.
|Rs. in crores||FY23||FY22||FY21|
|Profit after Tax||149.73||64.52||85.01|
IPO details: Concord Biotech Limited, a R&D driven biopharma Company that manufactures Active Pharmaceutical Ingredients (API) is set to open its IPO for subscription on 4 August 2023 to 8 August 2023. The set IPO price range is Rs. 745 to Rs. 741 with a lot size of 20 shares with a minimum investment of Rs. 14,100. The listing date of the IPO is 18 August 2023. The total IPO size is Rs. 1551 crore. The IPO is an offer for sale with no fresh issues as per the red herring prospectus.
|IPO Open and Close Date||4 August 2023 to 8 August 2023|
|IPO price range||Rs. 745 to Rs. 741|
|IPO size||Rs. 1551 crores|
|Listing Date||18 August 2023|
About Concord Biotech: Concord, established in 2000, is a company that produces Active Pharmaceutical Ingredients (API) using fermentation and semi-synthetic processes, as well as finished formulations. Over the years, Concord has evolved from being a single-product company to a versatile solution provider, offering a wide range of products across various therapeutic segments. The company was backed by the billionaire investor Rakesh Jhunjhunwala.
Objectives of the IPO: The goals of the IPO are to secure the advantages of having equity shares listed on the stock markets, and to execute an offer for sale of up to 20,925,652 equity shares by the shareholders who wish to sell.
Financials: Concord Biotech’s profit after tax for FY23 stood at Rs. 240 crores up 37.8% from Rs. 174.9 crores in FY22.
|Rs in Crores||FY23||FY22||FY21|
|Revenue||888.4 crores||736.3 crores||630.7 crores|
|Expenses||648.4 crores||561.4 crores||395.9 crores|
|Profit after Tax||240 crores||174.9 crores||234.8 crores|
Upcoming IPOs in 2023 (tentative)
IPO details: EbixCash, has submitted its preliminary prospectus (DRHP) to the Securities and Exchange Board of India, intending to gather funds through an Initial Public Offering (IPO). The IPO will involve the issuance of new equity shares amounting to Rs. 6000 crores. Additionally, the company may contemplate a supplementary share issuance, including a rights issue, amounting to up to Rs. 1,200 crore, which could potentially diminish the original IPO size.
About the company: Founded in 2002, EbixCash Limited is an Indian company that provides digital products and services in B2C, B2B, and fintech sectors. As one of India's largest financial exchanges, it has over 650,000 distribution outlets and an online platform. It offers a wide range of services including payment solutions, travel, insurance, and financial technology.
National Securities Depository Limited (NSDL) IPO
IPO details: National Securities Depository Limited (NSDL) filed a draft IPO proposal with SEBI, aiming to allow its investors to sell 57,260,001 equity shares to the public. Details like share allotment, listing date, price band, and lot size will be determined post-SEBI approval. The IPO includes an "employee reservation portion" with a potential "employee discount" for eligible employees. The issue size is expected to be around 3000 crore.
|Rs in Crores||FY22||FY21||FY20|
|Revenue||821.29 crores||524.30 crores||379.35 crores|
|Profit after Tax||212.59 crores||188.56 crores||124.76 crores|
About the company: NSDL is India's biggest depository, authorized by SEBI, offering various financial and securities market products and services. It leads in terms of issuers, active instruments, market share, demat settlement volume, and assets under custody.
API Holdings IPO
IPO details: PharmEasy's parent company, API Holdings, filed a DRHP with SEBI for a Rs. 6250 crore IPO on November 11, 2021. The IPO aims to raise funds through fresh equity issuance. Before the IPO, the company plans to raise Rs. 1250 crores through private placement, reducing the main issue size significantly.
In October 2021, API Holdings conducted a pre-IPO that received an over-subscription from participants, including names like Amansa Capital (Singapore-based) and Janus Henderson (US-based hedge fund). This pre-IPO was priced at US $5.4 billion.
|Rs in Crores||FY22||FY21|
|Revenue||5781 crores||2360 crores|
|Profit after Tax||-3992.4 crores||-641.3crores|
About the company: API Holdings, Pharmeasy’s parent company, is India's biggest digital healthcare platform (FY21 GMV-based). It offers a comprehensive range of healthcare solutions, including digital tools and wellness information, teleconsultation, diagnostics, radiology tests, and treatment protocols with products and devices.
Tata Technologies IPO
IPO Details: The upcoming IPO of Tata Technologies will consist solely of a pure offer for sale (OFS) of 95.71 million shares (9.57 crore shares) by the existing promoters and shareholders of the company. This means that there won't be any new capital infusion into the company through this IPO.
About the company: Tata Technologies Limited stands as a prominent worldwide engineering services enterprise, providing cutting-edge product development and digital solutions. Their comprehensive offerings include turnkey solutions, catering to esteemed global original equipment manufacturers (OEMs) and their tier-1 suppliers.
IPO Details: Snapdeal Ltd has submitted a filing for an Initial Public Offering (IPO) valued at approximately Rs.1,250 crore. This proposed IPO includes a new issuance valued at Rs.1,250 crore and an offer for sale of up to 30,769,600 shares of common stock. SoftBank, one of the stakeholders, intends to divest up to 30.77 million shares as part of the offer for sale. Furthermore, Snapdeal is contemplating a pre-IPO placement valued at Rs.250 crore, which will be subtracted from the fresh issue.
About the company: Established in 2007, Snapdeal once competed with Amazon and Walmart's Flipkart.It was among the top four online lifestyle destinations in FY21, according to app installations. Originally a coupon booklet venture, Snapdeal transitioned to an online deals platform in 2010 and then to an e-commerce marketplace in 2012. The company's broad product offerings include fashion, home and general merchandise, and beauty and personal care items. Its main revenue sources are marketing and freight and collection fees from sellers, with a cash on delivery feature added in 2021.
Fabindia Ltd IPO
IPO details: FabIndia, intends to generate ₹4,000 crore via an initial public offering (IPO). This IPO will include a new issuance of shares valued at approximately ₹500 crore, as well as an Offer for Sale (OFS) encompassing up to 2,50,50,543 shares.
About the company: FabIndia is a popular lifestyle brand in India, offering a variety of authentic, sustainable products inspired by Indian traditions. Its brands, 'Fabindia' and 'Organic India,' promote the principles of "Celebrating India" and "Healthy Conscious Living," respectively. FabIndia's diverse product range spans apparel, accessories, home decor, personal care, and organic foods.
Macleods Pharmaceuticals IPO
IPO details: Mumbai-based Macleods Pharmaceuticals is preparing to secure Rs. 5000 crores via an IPO, having submitted initial documents to Sebi. This constitutes the second biggest pharma IPO since Gland Pharma's Rs 6,480 crore issue in November 2020. The offer entirely consists of a sale of 60.5 million equity shares by the promoters.
About the company: Founded in 1989 in Mumbai, Macleods Pharmaceuticals ranks as India's seventh largest pharmaceutical company based on domestic sales. With 80% of its sales coming from non-metro areas, it surpasses the Indian Pharmaceutical Market's (IPM) average of 70%. The company specializes in producing and marketing diverse formulations, notably in anti-infectives, cardiovascular, anti-diabetic, dermatology, and hormone treatments, with a significant footprint in North and East India
BIBA Fashion IPO
IPO Details: Biba Fashion, is preparing for an Initial Public Offering (IPO) and has submitted its initial documents to the Securities and Exchange Board of India (SEBI). The IPO will consist of an equity share issue amounting to Rs 90 crores, along with an Offer For Sale (OFS) of 2.77 crore equity shares, proposed by the promoter and current investors.
About the company: A renowned brand in the realm of ethnic attire, the company produces and sells a vast variety of women's Indian clothing, plus jewelry, footwear, wallets, and fragrances. Initially focused on India, it has expanded to Canada, Nepal, and the UAE, with plans for USA and Australia by Q1 FY23.
OYO Hotels and Rooms IPO
IPO details: In the DRHP submitted by OYO Hotels and Homes to SEBI, it has been projected that the forthcoming public issue might be valued at Rs. 8,430 crores. This estimate incorporates an offer for sale amounting to approximately Rs. 1,430 crores, coupled with a new issuance of equity shares totaling Rs. 7,000 crores. Other specifics regarding this public issue, including the price band, market lot, and similar factors, have not yet been disclosed to the public.
About the company: Launched in 2012 under the name Oravel Stays and subsequently rebranded as OYO Hotels and Homes, this enterprise is recognized as one of India's noteworthy startups. With innovative ideas, it made a grand entry into India's hospitality industry, aiming to offer an enhanced and budget-friendly experience to each guest.
IPO details: boAt's parent company, Imagine Marketing Limited, submitted a DRHP for a Rs. 2,000 crore IPO, including Rs. 900 crore of fresh equity and a Rs. 1,100 crore offer for sale, to SEBI on 26th January 2022. They're also seeking to raise Rs. 180 crore through pre-IPO placement and are awaiting SEBI approval to proceed.
About the company: boAt creates and sells smartwatches and a wide range of audio accessories such as earphones, chargers, headphones, home audio systems, wireless speakers, and rugged cables. It also offers a variety of mobile accessories, marketing its products via public events and partnerships with influencers and sports teams.
Other Upcoming IPOs in 2023 (tentative)
|Company Name||Issue Size|
|Ola||To be announced|
|Droom||To be announced|
|Studd Accessories||To be announced|
|Bajaj Energy||To be announced|
|Ixigo||To be announced|
|MobiKwik||To be announced|
|Mamaearth||To be announced|
|Northern Arc Capital||To be announced|
|Go Airlines||To be announced|
This is not investment advice. Investments in the securities market are subject to market risk, read all the related documents carefully before investing. Past performance is not indicative of future returns.