[Report] Upcoming IPO in 2023-24

The recent news of Mankind shares surging 31% above the IPO price on its listing day is truly exciting.

mankind pharma stock rises

It shows that investing in IPOs can offer great opportunities for profit. This encourages us, even if we don’t know about IPOs, to consider investing in the next IPO and potentially earn profits from it.

IPOs are a great chance for you to invest in promising companies from the beginning. But one major mistake that beginner investors often make while investing in an IPO is solely relying on the hype or buzz surrounding the IPO without doing in-depth research.

Many IPOs generate significant media attention and excitement, leading to a fear of missing out (FOMO) among investors. This FOMO can prompt beginner investors to invest in an IPO solely based on the hype and without thoroughly researching the company’s fundamentals, financials, and growth prospects.

But remember, the hype doesn’t guarantee long-term success. You can make informed choices by conducting thorough due diligence and understanding a company’s fundamentals, risks, and industry trends. 

Let’s discuss the detailed report of upcoming IPOs where I’ll discuss each company’s business in an easy way but before that, you can go through the list of upcoming IPOs in India.

List of Upcoming IPOs in India 2023

Sr. No.Company NameIssue DateAllotment DatePrice Range(per share)Min Amount / Min Qty
1Avalon Technologies Limited03 Apr 2023 – 06 Apr 202312 Apr 2023415 – 43614110 / 34
2Mankind Pharma Limited25 Apr 2023 – 27 Apr 202303 May 20231026 – 108013338 / 13
3De Neers Tools Limited28th Apr 2023 – 3rd May 202308 May 202395 – 101114000 / 1200
4Innokaiz India Limited28th Apr 2023 – 3rd May 202308 May 202376 – 78121600 / 1600
5Nexus Select Trust REIT09 May 2023 – 11 May 202316 May 202395 – 10014250 / 150
6Auro Impex & Chemicals Limited11 May 2023 – 15 May 202318 May 202374 – 78118400 / 1600
7Krishca Strapping Solutions IPO16 May 2023 – 19 May 202324 May 202351 – 54102000 / 2000
8Remus Pharmaceuticals Limited IPO17 May 2023 – 19 May 202324 May 20231150 – 1229115000/100
9Hemant Surgical Industries IPO24 May 2023 – 26 May 202331 May 202385 – 90144000/1600
10Allied Blenders & Distillers Ltd IPOTo be announcedTo be announcedTo be announced
11Gold Plus Glass Industry Limited IPOTo be announcedTo be announcedTo be announced
12Signature Global (India) Limited IPOTo be announcedTo be announcedTo be announced
13Rashi Peripherals Ltd. IPOTo be announcedTo be announcedTo be announced
14Ideaforge Technology IPOTo be announcedTo be announcedTo be announced
15Ratnaveer Precision Engineering IPOTo be announcedTo be announcedTo be announced
16J G Chemicals IPOTo be announcedTo be announcedTo be announced
17Rishabh Instruments IPOTo be announcedTo be announcedTo be announced
18Cyient DLM Ltd. IPOTo be announcedTo be announcedTo be announced
19Survival Technologies IPOTo be announcedTo be announcedTo be announced
20Mamaearth IPOTo be announcedTo be announcedTo be announced
21Go Digit Insurance IPOTo be announcedTo be announcedTo be announced
22Tata TechnologiesTo be announcedTo be announcedTo be announced
23Northern Arc Capital Ltd IPOTo be announcedTo be announcedTo be announced
24Penna Cement Industries Limited IPOTo be announcedTo be announcedTo be announced
25Infinion Biopharma Ltd IPOTo be announcedTo be announcedTo be announced
26ESDS Software Solution Ltd IPOTo be announcedTo be announcedTo be announced
27Navi Technologies IPOTo be announcedTo be announcedTo be announced
28Popular Vehicles and Services IPOTo be announcedTo be announcedTo be announced
29Medi Assist IPOTo be announcedTo be announcedTo be announced
30Gemini Edibles & Fats India ltd IPOTo be announcedTo be announcedTo be announced
31Suraj Estate Developers IPOTo be announcedTo be announcedTo be announced
32Nandan Terry IPOTo be announcedTo be announcedTo be announced
33Maini Precision IPOTo be announcedTo be announcedTo be announced
34BIBA IPOTo be announcedTo be announcedTo be announced
35Gemini Edibles & Fats India Ltd IPOTo be announcedTo be announcedTo be announced
36Course5 Intelligence Ltd IPOTo be announcedTo be announcedTo be announced
37Yatra Online Limited IPOTo be announcedTo be announcedTo be announced
38FirstMeridian Business Services Ltd IPOTo be announcedTo be announcedTo be announced
39Pristine Logistics and Infraprojects IPOTo be announcedTo be announcedTo be announced
40PayMate India Ltd IPOTo be announcedTo be announcedTo be announced
41Fincare Small Finance Bank Ltd. IPOTo be announcedTo be announcedTo be announced
42Sterlite Power Transmissions Limited IPOTo be announcedTo be announcedTo be announced
43Keventer Agro IPOTo be announcedTo be announcedTo be announced
44Utkarsh Small Finance Bank Limited IPOTo be announcedTo be announcedTo be announced
45Go Airlines IPOTo be announcedTo be announcedTo be announced
46Gujarat Polysol Chemicals IPOTo be announcedTo be announcedTo be announced
47TBO TEK Limited IPOTo be announcedTo be announcedTo be announced
48Protean eGov Technologies IPOTo be announcedTo be announcedTo be announced
49Uma Converter Limited IPOTo be announcedTo be announcedTo be announced
50Cogent E-Services Ltd IPOTo be announcedTo be announcedTo be announced
51Seven Islands Shipping IPOTo be announcedTo be announcedTo be announced
52Ixigo IPOTo be announcedTo be announcedTo be announced
53MobiKwik IPOTo be announcedTo be announcedTo be announced
54Bharat FIH Ltd IPOTo be announcedTo be announcedTo be announced
55Fedbank Financial Services Ltd IPOTo be announcedTo be announcedTo be announced
56Godavari Biorefineries Ltd IPOTo be announcedTo be announcedTo be announced
57Plaza Wires Ltd IPOTo be announcedTo be announcedTo be announced
58Waaree Energies IPOTo be announcedTo be announcedTo be announced
59BVG India Ltd IPOTo be announcedTo be announcedTo be announced
60Prasol Chemicals Ltd IPOTo be announcedTo be announcedTo be announced
61AKME Fintrade (India) Ltd IPOTo be announcedTo be announcedTo be announced
62Healthium Medtech IPOTo be announcedTo be announcedTo be announced
63Sahajanand Medical Technologies Limited IPOTo be announcedTo be announcedTo be announced
64Imagine Marketing Limited IPOTo be announcedTo be announcedTo be announced
65Puranik Builders Limited IPOTo be announcedTo be announcedTo be announced
66Veeda Clinical Research Limited IpoTo be announcedTo be announcedTo be announced
67Macleods Pharmaceuticals Limited IPOTo be announcedTo be announcedTo be announced
68TVS Supply Chain Solutions Limited IPOTo be announcedTo be announcedTo be announced
69Lava International Ltd IPOTo be announcedTo be announcedTo be announced
70Capital Small Finance Bank IPOTo be announcedTo be announcedTo be announced
71Aadhar Housing Finance IPOTo be announcedTo be announcedTo be announced
72Vikram Solar IPOTo be announcedTo be announcedTo be announced
73Yatharth Hospital IPOTo be announcedTo be announcedTo be announced
74Arohan Financial Services IPOTo be announcedTo be announcedTo be announced
75EBIXCASH IPOTo be announcedTo be announcedTo be announced
76Capillary Technologies IPOTo be announcedTo be announcedTo be announced
77Kids Clinic India Ltd IPOTo be announcedTo be announcedTo be announced
78Mukka Proteins IPOTo be announcedTo be announcedTo be announced
79Senco Gold India Limited IPOTo be announcedTo be announcedTo be announced
80JSW Infrastructure To be announcedTo be announcedTo be announced

Upcoming IPOs Report

#1. Krishca Strapping Solutions 

Krishca Strapping Solutions is a leading manufacturer of steel straps, steel strapping tools, seals, and high-quality packaging solutions for the steel industry. 

Investing in Krishca Strapping Solutions can be a good opportunity as it operates in a sector that plays a crucial role in the logistics and supply chain industry. 

Krishca’s sales aren’t widely distributed among several customers as 51.90% of sales came from the top 5 customers only which means losing a single top customer can highly impact the sales. And steel prices are highly fluctuating which can hamper the profit margin of the company. 

Objective of IPO

The net proceeds from the IPO will be used for capital expenditure, debt repayment, and general corporate purposes.

IPO Financials

Financial YearRevenue (in crores)Profit/Loss (in crores)
2019-200.98-2.24
2020-219.71-0.67
2021-2218.721.51

Strengths

  • High-quality products
  • Reduced debt 
  • Debtor days were reduced from 164 to 110 days.
  • Working capital requirement reduced from 532 days to 97.1 days

Weaknesses

  • 52% of revenue from top 5 customers
  • High volatility in steel prices

#2. Hemant Surgical Industries

Hemant Surgical Industries, established in 1989, has a strong presence in the medical equipment and disposables industry. With over three decades of experience, it offers a diverse product portfolio catering to a wide range of medical needs, serving both domestic and international markets. 

Hemant Surgical operates in various medical sectors, including renal care, cardiovascular disease, respiratory disease, critical care, and radiology. It has demonstrated stable financial performance, achieving significant revenue growth of 35.14% CAGR from FY21 to FY23, along with improved margins. 

Overall, the company is well-positioned to capitalize on favorable industry trends, as the Indian medical device market is projected to reach $50 billion by 2025.

Objective of IPO

The objective of Hemant Surgical Industries’ IPO is to raise funds for plant and machinery expenditures, meet working capital requirements, general corporate purposes, and issue expenses.

IPO Financials

Financial YearRevenue (in crores)Profit/Loss (in crores)
2019-2060.65 1.15
2020-21105.774.61 
2021-22111.507.65

Strengths 

  • Established presence in the medical equipment and disposables industry
  • Diverse product portfolio catering to various medical needs
  • Strong track record of financial performance
  • Wide client base in India and international markets
  • Positioned to capitalize on the growth potential of the Indian medical device market

Weaknesses 

  • Vulnerability to difficulties in sourcing and supplying raw materials
  • Potential impact on operations from termination or non-renewal of agreements with third-party suppliers

#3. Go Digit Insurance

Go Digit is a leading digital full-stack insurance company in India, with a strong market presence and ownership of a significant share of Gross Written Premiums (GWP) among digital insurance players.

With its advanced technology-driven platform, Go Digit offers seamless and personalized insurance solutions for non-life products. The platform enables easy enrollment, efficient claims processing, underwriting, policy administration, data insights, and fraud detection.

As the largest full-stack digital insurer in India in terms of Gross Written Premiums, Go Digit has demonstrated consistent growth in GWP, achieving a CAGR of 52.9% to Rs 2,358 cr from 2020 to 2022. Despite the revenue growth, Go Digit has been incurring losses for the last 3 years. 

Though Go Digit has maintained a healthy solvency ratio of 2.01 times, well above the regulatory limit. The company has a proven track record of careful investments and maintaining financial stability.

Overall, Go Digit’s strong market position, technological expertise, impressive growth trajectory, and financial stability make it a compelling player in the digital insurance sector.

Objective of IPO

IPO proceeds will be used to support the company’s solvency ratio maintenance.

IPO Financials

Financial YearRevenue (in crores)Profit/Loss (in crores)
2019-201684-175
2020-212874-123
2021-224535-296

Strengths 

  • Immerging player in the digital insurance space in India
  • Largest full-stack digital insurer in terms of Gross Written Premiums
  • Strong growth in Gross Written Premiums and revenues
  • Leveraging technology for seamless customer experience
  • Healthy Solvency ratio and financial stability

Weaknesses 

  • Historical net losses in previous years
  • Reliance on the IPO proceeds to maintain solvency ratio
  • Market uncertainties impacting the timing of the IPO

#4. Allied Blenders & Distillers Ltd IPO

Allied Blenders and Distillers (ABD) is the largest Indian-owned, India-made foreign liquor (IMFL) company, renowned for its flagship product Officer’s Choice Whisky, a top-selling whisky in its price range. 

With a strong distribution network across India, ABD holds the third position in annual sales volume among IMFL companies. 

It is recognized as a leading exporter of foreign liquor and owns a diverse portfolio of premium brands including Officer’s Choice, Sterling Reserve, and Officer’s Choice Brandy. ABD’s extensive presence in 22 international markets further highlights its global reach and influence. 

With a significant market share and a wide retail presence, ABD continues to excel as one of India’s premier liquor companies.

Objective of IPO

Prepayment and repayment of market borrowings, as well as fulfilling general corporate purposes.

IPO Financials

Financial YearRevenue (in crores)Profit/Loss (in crores)
2018-1989346152
2019-2081191128
2020-216378825

Strengths

  • ABD is the largest Indian-owned, India-made foreign liquor (IMFL) company, showcasing its strong position in the market.
  • ABD has a list of successful flagship products like Officer’s Choice Whisky, contributing to ABD’s brand recognition and market success.
  • Allied Blenders held a 23% market share by sales volume in 2021 in the mass premium segment and an 8.2% market share in the IMFL category.
  • Allied Blenders owns 10 major brands of whisky, rum, brandy, and vodka catering to diverse consumer preferences.
  • It has a pan-India distribution footprint, serving all permitted states and Union Territories through 12 regional sales service offices.
  • ABD exports its products to 22 international markets in the Middle East, South and North America, Asia, Europe, and Africa.

Weaknesses

  • A decline in the demand for whisky could have a negative impact on ABD’s business performance and financial stability.
  • Changes in consumer preferences or failure to maintain the popularity of its brands could affect ABD’s future performance and market position.
  • The inability to increase selling prices may impact ABD’s profit margin, especially if costs of production or raw materials rise.
  • Profit is decreasing YoY basis

#5. Rashi Peripherals Ltd. 

Rashi Peripherals Ltd. is a leading distributor of technology products especially Information and Communications Technology (ICT) in India. The company plays a vital role in helping global IT brands establish their presence in the Indian market. Rashi Peripheral focuses on two key business verticals:

  1. Personal Computing, Enterprise & Cloud Solutions (ECS)
  2. Lifestyle and IT essentials. 

With a revenue growth of 53.85% between 2020 and 2022, Rashi Peripheral has demonstrated its strong performance.

With over three decades of experience, Rashi Peripheral has evolved from manufacturing peripherals to offering comprehensive ICT solutions to Indian and global IT companies.

Its expertise as a distribution partner has facilitated the entry of numerous global IT brands into India. The company distributes products from 48 global technology brands, including Asus, HP, Lenovo, Logitech, Nvidia, and similar other brands.

Rashi Peripheral’s distribution network is vast, comprising 50+ branches, 50+ service centers, and 60+ warehouses that cater to over 9,000 B2B customers in 750 locations. This extensive network enables efficient distribution and prompt support to its valued customers.

However, intense competition from online retailers and potential challenges related to supply chain disruptions could pose risks such as delays in product supply from global brands can affect the business.

Rashi Peripherals sell on credit to Channel Partners (or customers) at a very significant amount. It may lead to credit losses and impact the cash flow if the customer’s businesses encounter negative trends.

Objective of IPO

The company intends to allocate funds to repay debt and fulfill its working capital requirements.

IPO Financials

Financial YearRevenue (in crores)Profit/Loss (in crores)
2019-20391841.8
2020-215864122 
2021-229161180

Strengths

  • Prominent distribution partner for global IT brands in India.
  • Strong revenue growth of 53.85% in the last 3 years.
  • Extensive distribution network pan India
  • Partnerships with 48 global technology brands

Weaknesses

  • High dependency on global brands’ and marketplaces’ product supply
  • Highly competitive ICT industry
  • Significant credit exposure to the Channel Partners 

#6. Ideaforge Technology

Ideaforge Technology is a prominent player in the unmanned aerial vehicle (UAV) or drone industry with 50% market share. You can invest in the growing drone industry, which has applications in sectors such as defence, surveillance, and infrastructure. 

The company’s advanced technology and strong customer base position it for potential growth. According to Drone Industry Insights, Ideaforge stands 7th globally in the dual-use drone market. Dual-use means the company manufactures drones for both civil as well as defence sectors

IPO’s fresh issuance proceeds of Rs 50 crore will be utilized towards debt payment, Rs 135 crore for working capital requirements, and an additional Rs 40 crore will be dedicated to R&D of the product.

However, regulatory restrictions, evolving industry standards, and competition from domestic and international players are important considerations.

Objective of IPO

Ideaforge’s objective for utilizing the funds includes the repayment or prepayment of certain loans, meeting working capital requirements, investing in product development, and addressing general corporate purposes.

IPO Financials

Financial YearRevenue (in crores)Profit/Loss (in crores)
2019-20347146
2020-211394440
2021-221596452

Strengths

  • Backed by Qualcomm and Infosys
  • Monopoly company with 50% market share
  • Ranked 7 in global dual-use (defence and civil) drone segment
  • High growth prospects

Weaknesses

  • Strictly regulated industry, any non-compliance may affect business
  • 90% of the business is heavily reliant on Indian government agencies 
  • High dependency on global vendors for part supply

#7. Ratnaveer Precision Engineering

Ratnaveer Precision Engineering Ltd., based in Gujarat, is an engineering company known for its diversified product portfolio, including 2500 SKUs of stainless steel washers. Their products cater to various industries such as automotive, solar energy, wind power, oil & gas, pharmaceuticals, and instrumentations.

With a focus on global expansion, Ratnaveer Precision Engineering exports to countries like the UK, Germany, Spain, and the Netherlands, reducing dependency on any single customer.

As the demand for stainless steel continues to rise due to its enhanced corrosion resistance properties, the company specializes in manufacturing value-added stainless steel products.

Notably, Ratnaveer Precision Engineering has shown consistent growth in revenue and profits. Over the period of 2011 to 2022, their revenue witnessed a CAGR of 14.73%, while their profit after tax grew at a rate of 16.40%, reaching Rs. 95.35 million in Fiscal 2022 from Rs. 15.42 million in Fiscal 2011.

Objective of IPO

The proceeds will be utilized to meet the working capital requirements and general corporate purposes.

IPO Financials

Financial YearRevenue (in crores)Profit/Loss (in crores)
2019-2060.65 1.15
2020-21105.774.61 
2021-22111.5095.35

Strengths

  • Diversified product portfolio 
  • Global presence
  • Focus on value-added stainless steel products
  • Steady revenue growth of 14.73% CAGR in (2011-2022)
  • Profit after tax (PAT) growth of 16.40% in last 3 years

Weaknesses

  • Reliance on stainless steel which is very volatile industry
  • Potential impact of global economic conditions
  • Regulatory changes affecting the steel industry
  • No long-term agreements with its suppliers which may disrupt raw material supply 

#8. J G Chemicals 

J G Chemicals is a leading Indian manufacturer of zinc oxide, known for its significant production capacity and revenue in the industry. With a 30% market share in FY22, the company offers a wide range of over 80 grades of zinc oxide.

JG Chemicals has three manufacturing facilities with a combined capacity of 77,040 MTPA to deliver high-quality zinc oxide products.

J.G Chemicals also supplies Zinc oxide in more than 10 countries. As one of the top 10 global zinc oxide producers, the company has successfully supplied its products to over 200 domestic and 50 global customers in the past three years. 

Zinc oxide plays a critical role in tire manufacturing, and J.G Chemicals proudly supplies its products to nine out of the top 10 global tire manufacturers and 11 leading Indian tire manufacturers. Furthermore, zinc oxide finds applications in the pharmaceutical, chemical, and agricultural sectors.

BDJ Oxides, a material subsidiary of J.G Chemicals, holds the distinction of being the only zinc oxide manufacturer in India with IATF certification, which is preferred by tire companies.

Objective of IPO

The company plans to utilize the net proceeds from the fresh issues for the establishment of a new R&D center and meeting capital expenditure requirements.

IPO Financials

Financial YearRevenue (in crores)Profit/Loss (in crores)
2019-203993139
2020-214353288
2021-226128431

Strengths

  • Largest Indian zinc oxide manufacturer 
  • Wide range of over 80 grades of zinc oxide, catering to diverse customer needs.
  • Strong market presence with a 30% market share in FY22.
  • Extensive customer base, serving over 200 domestic and 50 global customers.
  • Key supplier to top global and Indian tire manufacturers.
  • Diversification of applications in pharmaceuticals, chemicals, and agriculture sectors.

Weaknesses

  • Vulnerability to market fluctuations in the zinc oxide industry.
  • Reliance on the demand and pricing of raw materials
  • Exposure to global economic conditions and geopolitical factors.

#9. Rishabh Instruments

Rishabh Instruments is a global leader in energy efficiency solutions, offering a wide range of electrical automation, metering, and precision-engineered products for various industries. 

The company excels in manufacturing and supplying analog panel meters and low-voltage current transformers. 

Rishab Instruments has dedicated R&D centers in India, Poland, and China. With 5 manufacturing units across these countries, Rishabh Instruments serves a customer base of 100, offering a portfolio of 145 product lines.

In the financial year 2022, the company achieved a consolidated revenue of ₹470.25 crore, marking a growth of 20.6% compared to the previous year. Its net profit for FY22 also rose significantly by 38% to ₹49.65 crore. With total assets valued at ₹563.89 crores. 

Rishabh Instruments maintains a solid financial position to support its operations and future growth.

Objective of IPO

The IPO proceeds will be used for the expansion of the Nashik manufacturing unit and for general corporate purposes.

IPO Financials

Financial YearRevenue (in crores)Profit/Loss (in crores)
2019-204007316
2020-213900360
2021-224703497

Strengths

  • Diverse product portfolio catering to multiple industries.
  • Global presence and strong reputation in the energy efficiency solutions sector.
  • Emphasis on innovation and research and development.

Weaknesses

  • High market competition

#10. Cyient DLM Ltd. 

Cyient DLM Ltd. is an experienced provider of Electronic Manufacturing Services (EMS) and solutions, serving regulated industries like aerospace, defence, and medical technology. 

They are a top supplier to global OEMs, offering design, development, and manufacturing solutions for complex systems. With three manufacturing units in India, they deliver high-quality EMS components. 

As of September 2022, their revenue from operations was Rs 340.27 crore, with a net profit of Rs 13.42 crore. In FY22, their revenue was Rs 7205 crore, and their net profit reached Rs 398 crore.

Objective of IPO

The IPO aims to fulfill the company’s increased working capital needs, finance capital expenditure, and facilitate inorganic growth opportunities.

IPO Financials

Financial YearRevenue (in crores)Profit/Loss (in crores)
2019-204571 -67
2020-216280118
2021-227205398

Strengths 

  • Extensive experience serving highly regulated industries like aerospace, and defence
  • Strong presence across the value chain and manufacturing solutions
  • Top supplier to global OEMs
  • Growing revenue and net profit show financial stability 

Weaknesses

  • Exposure to regulated industries poses industry-specific risks.
  • Dependence on a limited number of marquee customers may lead to revenue fluctuations.
  • Competition from other EMS providers may affect market share and pricing.

#11. Survival Technologies 

Survival Technologies Ltd. is a leading specialty contract research manufacturing services (CRAMS) focused specialty chemical manufacturer. Contract research manufacturing services (CRAMS) are the services where a company helps other companies in making new products. They use their special knowledge and skills to develop and produce these products for their customers.

Survival Technologies has specialization in importing substitute chemicals, including complex chemicals from heterocyclic and fluorochemical products. By producing these specialty chemicals domestically, the company serves various industries in India.

With a portfolio of 677 synthesized products, including 500 commercially produced for export, Survival Technologies demonstrates its expertise and commitment to meeting market demands.

Survival Technologies has generated revenue at a 25.1% CAGR and gross profit has also increased from Rs.831M to Rs. 1,616M, at a CAGR of almost 40% from FY20 to FY22.

However, you must understand that Survival Technologies may encounter challenges due to import restrictions on raw materials and rising shipping costs. These factors can impact the company’s operations and overall performance.

Objective of IPO

The objective of the IPO is to secure funds for meeting working capital requirements and for general corporate purposes.

IPO Financials

Financial YearRevenue (in crores)Profit/Loss (in crores)
2019-201992191
2020-212748563
2021-223118735

Strengths

  • Specialized in manufacturing import substitute chemicals
  • Collaborative approach with customers throughout the product lifecycle
  • Diverse portfolio of 677 synthesized products
  • Strong revenue growth and improved gross profit margin

Weaknesses

  • Vulnerability to import restrictions on raw materials
  • Exposure to increased shipping costs
  • Reliance on the domestic market for sales only

#12. Mamaearth

Mamaearth is a fast-growing personal care brand that offers natural and toxin-free skin care products for babies, kids, and adults. The company’s strong consumer base and commitment to ethical practices provide growth opportunities. 

However, Mamaearth booked losses of Rs 428 cr in FY20 and Rs. 1,332 cr in FY21. But the skincare brand managed to gain a profit of Rs 14 cr in FY22.

Recently, Mamaearth has put its IPO on hold till October 2023 due to unfavorable market sentiments.

Objective of IPO

The primary use of the proceeds from the IPO for Mamaearth is to enhance brand visibility through advertising. Additionally, the funds will be allocated towards inorganic purposes and the establishment of new exclusive brand outlets.

IPO Financials

Financial YearRevenue (in crores)Profit/Loss (in crores)
2019-201142 -4280
2020-214720-13246
2021-229643224

Strengths

  • Profitability achieved in FY22, indicating the potential for growth and profitability in the future.
  • Strong brand recognition and customer loyalty in the skincare industry.
  • High growth potential in the organic and natural skincare market segment.
  • Experienced and well-known early investors, including celebrities, provide credibility and industry expertise.

Weaknesses

  • Losses in FY20 and FY21 may raise concerns about the company’s financial stability.
  • Heavy reliance on a limited range of products poses risks if there are changes in consumer preferences or marketplace dynamics.
  • Uncertainty surrounding the usage of IPO funds and future plans
  • High marketing spending may impact profitability

#13. Remus Pharmaceuticals Limited 

Remus Pharmaceuticals Limited is a pharmaceutical company dedicated to developing and manufacturing life-saving drugs. Investing in Remus Pharmaceuticals can be advantageous due to the potential for significant growth in the healthcare sector. 

As the demand for quality healthcare continues to rise, the company has the opportunity to introduce innovative drugs that address unmet medical needs. 

However, risks such as regulatory challenges, patent expirations, and the uncertainty associated with drug development and approval processes should be considered.

Objective of IPO

To secure funding for an acquisition, fulfill general corporate purposes and working capital requirements, and cover the expenses related to the IPO.

IPO Financials

Financial YearRevenue (in crores)Profit/Loss (in crores)
2019-201198
2020-2118410
2021-2224734

Strengths

  1. Extensive product portfolio
  2. Strong research and development capabilities
  3. Robust distribution network which facilitates the timely delivery of products to customers.
  4. Regulatory compliance enhances trust and reliability in its products.

Weaknesses

  1. Intense competition can potentially impact market share and pricing.
  2. Dependence on external suppliers
  3. New rules and regulations may impact the company’s operations and profitability.

#14. Gold Plus Glass Industry Limited 

Gold Plus Glass Industry Ltd applied for the IPO listing in December 2022. Gold Plus Glass is a leading manufacturer of architectural glass in India. The company has a strong track record of growth and profitability, with a robust distribution network and a diverse product portfolio. 

Float glass is currently one of the fastest-growing building materials in India. This presents an opportunity for the company to capitalize on the growing demand for its products. 

Nevertheless, expanding in this industry can be a costly endeavor due to the industry’s capital-intensive nature. The company also faces competition from imported float glass, which can pose challenges in terms of pricing and market share. 

Objective of IPO

Repaying market borrowings and meeting working capital requirements

IPO Financials

Financial YearRevenue (in crores)Profit/Loss (in crores)
2018-197803-790
2019-206286-800
2020-218525576

Strengths 

  • Low competition in the industry
  • High demand for float glass
  • Extensive distribution network 

Weaknesses

  • Expansion is slow due to the high cost
  • Faces competition from imported glass

#15. Signature Global (India) Limited

Signature Global, a leading real estate development company in the Delhi NCR, specializes in affordable and mid-segment housing. With a market share of 19% and a track record of selling over 23,450 properties, investing in Signature Global offers exposure to the potential long-term growth of the real estate sector.

It’s important to note that the company’s expenses increased to Rs 1,076 crore while the net income was Rs 960 crore in the last fiscal year, resulting in a net loss of Rs 115.5 crore. 

Objective of IPO

Signature Global aims to utilize the proceeds from the fresh issue to pay off debt, pursue inorganic growth through land acquisitions, and support general corporate purposes.

IPO Financials

Financial YearRevenue (in crores)Profit/Loss (in crores)
2019-20263-56.60
2020-21155-86.30
2021-22940-115.50

Strengths 

  • An industry leader in the segment
  • Clean track record 
  • Growth-oriented company

Weaknesses

  • Incurred losses in last 3 financial years

FAQs

What is an IPO?

An IPO, or Initial Public Offering, is the process through which a private company offers its shares to the public for the first time. It allows the company to raise capital from investors and enables individuals to become shareholders in the company.

How can I participate in an IPO?

To participate in an IPO, you need to have a demat account with a registered stockbroker or a bank that provides IPO application services. Once the IPO is open for subscription, you can submit your application through the designated channels, such as stock brokers, or banks.

How are IPO prices determined?

The price of an IPO is determined through a process called book building, where the company and its underwriters assess investor demand for the shares. Based on this demand and other market factors, the price is finalized. The final IPO price can be either fixed or determined within a price band.

What are the risks associated with investing in IPOs?

Investing in IPOs carries certain risks. The stock may not perform as expected after listing, and its price can fluctuate significantly in the initial days or weeks. Additionally, the company may face operational, regulatory, or market risks that could impact its performance. You should carefully evaluate the company’s prospectus and consider these risks before making an investment decision.

How can I stay informed about upcoming IPOs?

You can stay informed about upcoming IPOs by regularly checking the websites of stock exchanges, financial news portals, or the websites of regulatory bodies like the Securities and Exchange Board of India (SEBI). Financial advisors or brokerage firms may also provide updates on upcoming IPOs to their clients.

What are the benefits of investing in IPOs?

Investing in IPOs can offer the opportunity to participate in the early stages of a company’s growth and potentially benefit from capital appreciation. Successful IPOs of companies with strong fundamentals can generate attractive returns for investors.

Can retail investors participate in IPOs?

Yes, retail investors can participate in IPOs. SEBI has set aside a portion of the IPO shares specifically for retail investors, allowing them to invest at the IPO price. However, there may be certain eligibility criteria or limits on the maximum investment amount for retail investors.

About Rajan Dhawan

Rajan has covered personal finance and investing for over 5 years. Previously, he was in the IT field for 8 years after completing his MCA but his deep interest in personal finance led him to become an investing expert. He is passionate about investing, stocks, startups, and cryptos.

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