Upcoming IPO in February 2022

Last year we saw 63 companies coming up with their IPOs. On average, more than five companies became public every month. The first month of January 2022 started slowly with only two companies coming up with their IPOs. The primary reason for that could be a lot of volatility in the market that is seen before the Budget. Second, the recently listed tech companies have seen massive corrections. Many companies would have postponed their IPO for the same reason. 

However, in the coming weeks and months, investors can look forward to many IPOs. The most expected IPO of 2022 - Life Insurance Corporation of India (LIC) is expected to file DRHP in the next week and is expected to go live in the first week of March.

Below are the IPO to expect in February:

Vedant Fashions Ltd - is the largest company in India in the men's Indian wedding and celebration wear segment in terms of revenue and profit (FY20). Vedant's flagship brand is ‘Manyavar’ - a category leader in the branded Indian wedding and celebration wear market with a pan- India presence. It offers a one-stop destination with a wide spectrum of product offerings for every celebratory occasion. As of September 30, 2021, they have had a retail footprint of 1.2 million square feet covering 535 EBOs (including 58 shop-in-shops) spanning across 212 cities and towns in India, and 11 EBOs overseas. It is coming with IPO in the first week of February with an IPO size of Rs 3,149.19 crore - it will be the only Offer for Sale.

Keventer Agro - It is a Kolkata-based leading fast-moving consumer good firm with interests in package, fresh, dairy food products. Its comprehensive range of products spans various brands and categories with more than 90 stock-keeping units (SKUs). Its franchised brands include Frooti, Appy, Appy Fizz, and Bailey in pact with Parle Agro. It has frozen food, UHT milk, milkshakes, and bananas under the Keventer brand. The IPO comprises fresh issuance of equity shares worth Rs 350 crore and an offer-for-sale of 10,767,664 equity shares by Mandala Swede SPV.

Tamilnad Mercantile Bank - It is one of the oldest and leading old private sector banks in India with a history of almost 100 years. They offer a wide range of banking and financial services primarily to micro, small and medium enterprises (MSME), agricultural and retail customers (RAM). It has an overall customer base of 49.3 lakh customers as of June 2021. The entire public offer of Tamilnad Mercantile Bank Limited comprises of fresh issue of 1,58,27,495 Equity Shares and an Offer for Sale of up to 12,505 Equity Shares by the selling shareholders. The total size of the IPO will be around Rs 1,000 crore.

Snapdeal - It is an Indian e-commerce startup backed by Software Group Corp. Snapdeal was founded in 2010. At one time, it was considered a rival of Amazon.com Inc. and Walmart-backed Flipkart in the burgeoning Indian market. However, it fell behind as its deep-pocketed competitors invested heavily to grab market share. Snapdeal has refashioned itself to stand apart from its bigger competitors and focus on value-driven e-commerce. It has shifted its business model to focus on Bharat -the non-English speaking, non-affluent, non-urban, and non-tech savvy bulk of India’s population. It plans to raise Rs 1,250 crore through the sale of new shares.

MobiKwik IPO - They are one of the leading Buy Now Pay Later (BNPL) and mobile wallet providers. The digital payment company aims to address the credit requirements of the rapidly increasing online consumers. It offers services like peer-to-peer payments through UPI, MobiKwik Wallet and MobiKwik Wallet to bank payments are available on this platform. The issue size of MobiKwik IPO will be Rs 1900 crore. It includes a fresh share issue of up to Rs 1500 crore and an offer for sale worth Rs 400 crore.

Arohan Financial Services IPO - They are one of the leading NBFC-MFIs in India. It operates in the low-income, unpenetrated states of India. The offerings of Arohan Financial Services include credit as well as insurance products. Under credit, they offer income-generating loans and other forms of financial assistance. Under insurance, they cover life and health insurance products. It plans to raise Rs 1750 crore to Rs 1800 crore. The company’s IPO will include a fresh issue of Rs 850 crores, and the remaining will be offer for sale.

Ixigo IPO - Le Travenues Technology Ltd., which operates travel platform Ixigo plans to raise Rs 1,600 crore through an initial public offering. The IPO will consist of fresh issuance of shares worth Rs 750 crore and an offer-for-sale of equity shares worth Rs 850 crore by existing shareholders. Other than being a travel platform, it also provides travel utility products and technologies, such as train PNR status and confirmation forecasts, train seat availability notifications, train running status notifications and delay forecasts, etc.

Penna Cement IPO - It is one of the largest privately held cement companies in India and a leading integrated cement player in terms of cement production capacity. The company operates out of four integrated manufacturing facilities and two grinding units across Telangana, Andhra Pradesh, and Maharashtra with an aggregate capacity of 10 mmtpa. It expects to raise Rs 1,550 crore through its public offer. It includes a fresh issue of equity shares aggregating up to Rs 1,300 crore and an offer for sale worth Rs 250 crore.

Fincare Small Finance Bank IPO - It is a 'digital-first' Small Finance Bank(SFB) with a focus on unbanked and under-banked customers, especially in rural and semi-urban areas. They follow a business model focused on financial inclusion and aim to provide individuals and businesses with affordable financial products and services that meet the customers’ needs. They are coming with a Rs 1300 crore IPO which includes a fresh issue of Equity Shares aggregating up to Rs 330 crore and an Offer for Sale of up to Rs 1000 crore.

Paradeep Phosphates IPO - It is a leader in manufacturing, trading, distribution, and sales of a variety of complex fertilizers such as Di-ammonium Phosphate, and its fertilizer are sold under brands like ‘Jai Kisaan - Navratna’ and ‘Navratna’. It plans to raise up to Rs 1,255 crore fresh capital.

Sterlite Power IPO- It is one of the leading private sector power transmission infrastructure developers and solutions providers. The company develops integrated power transmission infrastructure and provides solution services through two business units: Global Infrastructure and Solutions. IPO comprises of fresh issue of equity shares aggregating up to Rs 1,250 crore.

LIC IPO - Life Insurance Corporation of India as per the latest news is expected to launch its IPO sometime in the first quarter of the financial year 2022-23. It is expected to be India’s biggest-ever initial public offering with the government selling a stake of 5-10% in the insurance company. As per analysts, the IPO size can be somewhere between Rs 80,000 crore and Rs 1,00,000 crore.

Seven Island Shipping IPO - It is a seaborne logistics company that was incorporated in 2002. The company is engaged in the trading of petrochemical lubricants, crude oil, and more. A few of the primary priorities of this company include secure transportation, efficiency while maintaining a clean environment. The company plans to raise funds worth Rs 600 crore via public issue. The initial public offering will include a fresh issue worth Rs 400 crores and Rs 200 crore of Offer for Sale.

Bajaj Energy IPO- is one of the largest private-sector thermal generation companies in Uttar Pradesh. It develops, finances, and operates thermal power plants in India. The company has a total gross installed capacity of 2,430MW, comprising 450 MW from five operational plants of 90 MW each. The company intends to raise Rs 5450 crores. The offer comprises a fresh issue worth Rs 5,150 crore and an offer-for-sale of shares up to Rs 300 crore.

Go Airlines IPO- GoAir is an ultra-low-cost carrier (ULCC). It is one of the fastest-growing airlines in India, with an increase in domestic market share from 8.8% in fiscal 2018 to 10.8% in fiscal 2020. The carrier’s fleet inventory consists of 56 aircraft and as of January 31, 2020, the airline covered a network of 28 domestic and nine international destinations. Its IPO will comprise fresh issuance of equity shares aggregating up to Rs 3,600 crores.

PharmEasy IPO- The company provides health services ranging from teleconsultation to radiology tests to home delivery of medical products and devices. It plans to raise Rs 6,250 crore in fresh equity shares.

Gemini Edibles And Fats IPO- It is associated with the edible oil business. They are also one of the leading integrated palm oil plantation companies in the world whose primary activities include the cultivation of oil palm plantations in Indonesia. It plans to raise Rs 2500 crore through the IPO through an offer for sale.

SREI Equipment Finance IPO- is a Kolkata-based company and is a part of SREI Infrastructure Finance Limited. The company provides loans for buying equipment that is used in the construction industry, Irrigation and Water Supply, Civil Aviation, mining, IT infrastructure development, healthcare industry, farming, etc. It plans to raise Rs 2000 crore through its IPO. The IPO consists of fresh issue equity shares of Rs 1100 crores and Rs 900 crore will be an offer for sale.

ESAF Small Finance Bank IPO - is one of the leading small finance banks in India in terms of client base size, the yield on advances, net interest margin, asset under management CAGR, total deposits, loan portfolio concentration in rural and suburban areas, and the ratio of microloan advances to gross advances.  Its IPO comprises a fresh issue of Rs 800 crore worth of shares and an OFS of Rs 200 crore worth of shares.

Ola IPO - Ola is a cab-hailing service that was launched in 2010 by Bhavish Aggarwal on the lines of Uber in the global markets. Since 2010, Ola has raised nearly $4 billion and the proposed IPO is likely to look for valuations of $8-9 billion. The IPO is expected to be around Rs 15000 crore.

BYJU’S IPO- is related to education here, students are provided online education for free. The app is mainly made for the students of class 4 to class 12. Along with this, information related to competitive exams like JEE, NEET, IAS is also given in it. It is expected, Byju's will raise around Rs 4500 crore through its IPO.

Chemspec Chemicals IPO- is a leading manufacturer of critical additives for the FMCG ingredients used in hair and skincare products worldwide. It also manufactures intermediates for pharmaceutical APIs used to formulate antihypertensive drugs. It plans to raise Rs 700 crore through Offer for Sale (OFS).

Shri Bajrang Power And Ispat IPO- It is India's leading iron and steel company. It has emerged as one of the leading integrated steel companies based out of central India and is one of the top 10 players in terms of capacity for iron ore pellets. It is coming with an IPO size of Rs 700 crore.

Delhivery IPO - Delhivery is one of the largest and fastest-growing fully integrated logistics services players in India for FY21. It provides a full range of logistics services, including express parcel delivery, heavy goods delivery, PTL (partial truckload) freight, TL (truckload) freight, warehousing, supply chain solutions, etc. It will raise Rs 5,000 crore through issuance of fresh shares while it will have an offer for sale (OFS) component of Rs 2,460 crore.

SAMHI Hotels IPO - The company has a portfolio of 27 operating hotels consisting of 4048 keys across India (June 2019). They have a diverse geographic presence with hotels in most urban centers like Delhi, Bengaluru, Hyderabad, Pune, and Chennai. The company has received approval from SEBI for IPO size between Rs 1800 crore and Rs 2000 crore. It will comprise a fresh issue of Rs 1,100 crore and an offer for sale (OFS) of 1,91,45,624 equity shares.

Medi Assist Healthcare Services IPO - It is a technology-led company that plays a crucial role in the health insurance ecosystem. It is India’s largest health benefits administrator in terms of revenues and premium serviced for health insurance policies for the financial years 2018, 2019, and 2020. It is coming up with an IPO size of Rs 800 crore.

Inspira Enterprise India IPO - is a leading digital transformation company in the country with a focus on cybersecurity. They provide cybersecurity and digital transformation services to their clients and have executed large cybersecurity transformation projects, infrastructure, and digital transformation projects. The initial share sale consists of fresh issuance of equity shares to the tune of Rs 300 crore and an offer of sale (OFS) of equity shares worth Rs 500 crore.

Muthoot Microfin IPO - is one of the leading microfinance institutions focused on providing micro-loans to women customers with a focus on rural regions of India. They are coming up with an IPO with an issue size of Rs 800 crore.

Fusion Microfinance IPO- It gives small-ticket loans to borrowers in the rural and semi-urban areas and largely operates with the unbanked sections of the population. The issue will consist of a fresh issue of Rs 600 crore plus an offer for the sale of 2,19,66,841 equity shares.

Hinduja Leyland Finance IPO-  is a multi-billion dollar vehicle finance NBFCs in India with a focus on urban and semi-urban markets. It provides retail finance through a wide range of vehicle financing and housing finance products. It will raise around Rs 700 crores through its IPO. It consists of a fresh share issue worth Rs 500 crores along with an offer for sale by Everstone Capital. 

VLCC Healthcare IPO - It operates VLCC branded wellness and beauty clinics and branded institutes for skill development in beauty and nutrition. It also manufactures and sells VLCC branded personal care products. The IPO comprises fresh issuance of equity shares worth Rs 300 crore and an offer-for-sale (OFS) of  .

Studd Accessories IPO- the world's largest two-wheeler helmet producer. The firm has a presence in over forty countries, including India. They own the only laboratory in India with certification from European Safety Agency and Safety for using the best technology. It will raise a Rs 450 crores IPO that would include fresh issue shares of Rs 98 crores and an OFS of around 39.39 lakhs shares by company shareholders and promoters.

Boat IPO - Boat, one of the largest direct-to-consumer, audio-focused electronics brands in India, has filed a draft red herring prospectus for a Rs 2,000-crore IPO with SEBI. The New Delhi-based company is expected to seek a valuation of $1.5-2 billion in the IPO to be floated this year

Emcure Pharmaceuticals IPO - Bain Capital-backed Emcure Pharmaceuticals is engaged in developing, manufacturing and globally marketing a broad range of pharmaceutical products across several major therapeutic areas. The initial public offering (IPO) comprises fresh issuance of equity shares worth Rs 1,100 crore and offer of sale (OFS) of 18,168,356 equity shares by promoters and existing shareholders, according to the draft red herring prospectus (DRHP).

Vedant Fashion IPO - Vedant Fashions Limited caters to the Indian celebration wear market with a diverse portfolio of brands. The company's brands include (i) Manyavar, (ii) Mohey, (iii) Mebaz, (iv) Manthan, and (v) Twamev. The IPO has an issue size of ₹3,149.19 Crores. The issue is priced at ₹824 to ₹866 per equity share.

The list is long and it would be interesting to see how many of these will actually get listed in February.