Upcoming IPO List of 2024 and Its Details

An initial public offering, or IPO, is a process by which a company offers its shares to the public for the first time. Significant efforts are made in advertising, regulatory compliance, and due diligence throughout the process. Promoters and the company's original investors sell those shares. Whereas, the public purchasing the recently issued shares consists of both retail and institutional investors. Let’s look at the upcoming IPO list that might soon be available in 2024.

Apeejay Surrendra Park Hotels

Apeejay Surrendra Park Hotels is the eighth-largest chain of hotels in India. It plans to earn around 920 crores through an initial public offering (IPO). It includes new issues worth Rs. 600 crores and an offer to sell up to Rs. 320 crores at a price of Rs. 1 each. High net–worth individuals (HNI) will get 15%. Qualified institutional borrowers (QIB) will have a share of 75% and the retail quota is 10%.

Rashi Peripherals

Rashi Peripherals is the top value-added national distributor in India for international technology brands. It is planning to launch an IPO that consists of a Rs. 600 crore offering. The offer price of each share is Rs. 5. The has allocated 15%, for HNIs, 50%, for QIBs and 35% for the retail investors.

Capital Small Finance Bank

Capital Small Finance Bank was established in 2016 and is one of the top small finance banks (SFBs) in the country. It is looking to raise about Rs. 523.07 crores through IPO. The offer includes the issuance of Rs.450 crores in new shares. In addition, the firm will sell up to 1,561,329 equity shares at a price of Rs.10 per share. 15% is allocated for the retail quota, 50% for QIBs, and 35% for the HNIs.

Jana Small Finance Bank

Jana Small Finance Bank is the fourth-largest small finance bank by assets under management (AUM) and fourth-largest by deposit size. it plans to raise around Rs. 570 crores. The IPO offer includes a fresh Rs. 462 crores issuance and up to 2,608,629 equity shares for Rs.10 apiece. HNIs have a share of 15%. Whereas, QIBs will get 50% and the retail investors will get 35%.

Entero Healthcare Solutions

Entero Healthcare Solutions is one of India's top three distributors of medical supplies. The company plans to raise around Rs. 1600 crores which would include a fresh 1000 crores issuance. It is also offering up to 12,718,600 equity shares at a price of 10 per share. The firm is offering 15% to the HNIs, 75% to QIBs and 10% to the retail investors.

MobiKwik

The well-known digital payment company MobiKwik has filed to go public long back. However, it has been postponed multiple times. The firm now plans to launch the IPO in 2024. Currently, the platform serves over 120 million customers nationwide in addition to 3 million shops. MobiKwik IPO will consist of an offer by a select group of promoters. Shareholders look to sell their shares for Rs. 400 crores, in addition to a new equity share issue of Rs. 1,500 crores.

Droom

Droom, an online vehicle aggregator, also intends to go public in 2024. It has submitted paperwork for an offering of Rs. 3,000 crores to SEBI. This will include issuing new shares worth Rs. 2,000 crores, with an approximate offering price of Rs. 1,000 crores. The money raised will be used for both upcoming projects, costs for running the company, and other expenses.

How to Subscribe to an IPO?

You can apply for an IPO in three ways. They are as follows.

UPI: Open your Demat account or stock market app. Using your UPI ID choose the IPO and submit an application for it. The required approval will appear in your bank account. Approve the terms and conditions to submit your application.

ASBA: You may also apply for the IPO through Applications Supported by Blocked Amount (ASBA. First log into your bank account. Complete the fields with your PAN, bid information, and Demat account number. Then submit your application.

Broker: You can apply for upcoming IPOs by getting in touch with your broker to complete the application and send it in. You can visit the branch office to get the form for the specific IPO. Many reputed firms like BlinkX allow you to apply for an IPO in both online and offline methods.

Conclusion

One way for investors to participate in the growth story of different firms is via investing in upcoming Initial Public Offerings (IPOs). While considering different options, investors must also stay updated on a company’s performance, and market developments. Also, read the company's prospectus carefully to make the appropriate choice. It contains all the details of the company’s performance and future business plans. Remember, you should always invest in companies that have strong fundamentals and good growth prospects.