The Indian stock market is witnessing a flurry of IPO activity as several companies are looking to raise funds from the public. In December 2023, there are at least eight IPOs that are expected to hit the market, offering investors a variety of opportunities across different sectors and segments. In this blog, we will take a look at the details of these upcoming IPOs and their prospects.
Shanti Spintex Limited IPO
Shanti Spintex Limited is a textile company that is engaged in procuring, processing, and distributing various agricultural products such as cotton, yarn, and fabric. The company also manufactures and exports home textiles and garments to various countries. The company plans to raise Rs 23.80 crore through its SME IPO, which is scheduled to open on December 4, 2023, and close on December 6, 2023. The price band for the issue has been fixed at Rs 70 per share, and the lot size is 2,000 shares. The company intends to use the net proceeds from the IPO for working capital requirements, general corporate purposes, and issue expenses1.
Muthoot Microfin Limited IPO
Muthoot Microfin Limited is a microfinance institution that provides micro-loans to women customers, primarily for income generation purposes, with a focus on rural regions of India. The company is the fourth largest NBFC-MFI in India in terms of gross loan portfolio as of December 31, 2022, according to CRISIL. The company has set the price band of its IPO at Rs 277 to Rs 291 per equity share, and the issue size is Rs 960 crore. The IPO comprises a fresh issue of shares worth Rs 760 crore and an offer for sale of shares worth Rs 200 crore by existing shareholders. The IPO will open for subscription on December 18, 2023, and close on December 20, 2023. The lot size is 50 shares, and the minimum investment amount is Rs 13,9502.
Motisons Jewellers Limited IPO
Motisons Jewellers Limited is a jewellery retail chain that offers a wide range of products such as gold, diamond, silver, and platinum jewellery, as well as bullion and coins. The company operates four showrooms in Jaipur, Rajasthan, and has a strong online presence through its e-commerce platform. The company aims to raise Rs 400 crore through its IPO, which will open for subscription on December 18, 2023, and close on December 20, 2023. The price band for the issue has been fixed at Rs 52 to Rs 55 per share, and the lot size is 2,000 shares. The company plans to use the net proceeds from the IPO for expansion of its business operations, working capital requirements, and general corporate purposes3.
Suraj Estate Developers Limited IPO
Suraj Estate Developers Limited is a real estate construction company that develops residential and commercial projects in the South Central Mumbai region. The company has completed 42 projects with a developed area of over 10.46 lakh square feet, and has 13 ongoing projects and 16 upcoming projects in its pipeline. The company has fixed the price band of its IPO at Rs 340 to Rs 360 per share, and the issue size is Rs 400 crore. The IPO consists of a fresh issue of shares worth Rs 400 crore. The IPO will open for subscription on December 18, 2023, and close on December 20, 2023. The lot size is 40 shares, and the minimum investment amount is Rs 14,4004.
Benchmark Computer Solutions Limited IPO
Benchmark Computer Solutions Limited is an IT infrastructure solutions and technology consultancy and software development company. The company provides end-to-end technology and technology-related services such as IT infrastructure solutions, software and web-based application development services, annual maintenance contracts, and facility management services. The company plans to raise Rs 12.24 crore through its SME IPO, which will open for subscription on December 14, 2023, and close on December 18, 2023. The price band for the issue has been fixed at Rs 66 per share, and the lot size is 2,000 shares. The company intends to use the net proceeds from the IPO for augmenting its capital base, purchasing passenger vehicles, and general corporate purposes5.
Siyaram Recycling Industries Limited IPO
Siyaram Recycling Industries Limited is a company that is engaged in providing employee transportation services to large MNCs with a presence across major cities in India. The company has over 16 years of experience in catering to the employee transportation needs of companies in IT/ITES, aviation, and other sectors. The company operates a largely asset-light engagement model, and has a fleet of over 1,475 vehicles, of which 217 are owned by the company and the rest are leased from various vendors. The company plans to raise Rs 22.96 crore through its SME IPO, which will open for subscription on December 14, 2023, and close on December 18, 2023. The price band for the issue has been fixed at Rs 43 to Rs 46 per share, and the lot size is 3,000 shares. The company proposes to utilise the net proceeds from the IPO for funding additional working capital requirements, purchasing passenger vehicles, and general corporate purposes6.
Shree OSFM E-Mobility Limited IPO
Shree OSFM E-Mobility Limited is a company that is engaged in providing electric vehicle charging solutions and services to various customers such as fleet operators, corporates, and individuals. The company has installed over 100 EV charging stations across Mumbai, Navi Mumbai, Pune, Bengaluru, and Kolkata, and has partnered with leading EV manufacturers such as Tata Motors, Mahindra Electric, and Ola Electric. The company aims to raise Rs 24.60 crore through its SME IPO, which will open for subscription on December 14, 2023, and close on December 18, 2023. The price band for the issue has been fixed at Rs 65 per share, and the lot size is 2,000 shares. The company intends to use the net proceeds from the IPO for expanding its business operations, purchasing passenger vehicles, and general corporate purposes7.
Inox India Limited IPO
Inox India Limited is a cryogenic engineering company that manufactures and supplies cryogenic storage tanks, vaporizers, and transport tanks for various industries such as industrial gases, petrochemicals, LNG, and aerospace. The company is a part of the Inox Group, and has a global presence in over 100 countries. The company has filed the draft papers with SEBI to raise funds through a public issue, which is expected to open on December 14, 2023, and close on December 18, 2023. The IPO will be a pure offer for sale of up to 22.11 million shares by its existing shareholders and promoters. The price band and the lot size for the issue are yet to be announced8.
These are some of the top upcoming IPOs in December 2023 in India that investors can look forward to. However, before investing in any IPO, it is advisable to do thorough research on the company’s financials, business model, growth prospects, and valuation, and consult a financial advisor if needed. Investing in IPOs can be rewarding, but also involves risks and uncertainties. Therefore, investors should be careful while making their investment decisions.