List of Upcoming IPOs in March 2022

List of Upcoming IPOs in March 2022

IPO
by 5paisa Research Team Last Updated: 2022-03-02T17:39:14+05:30

Like the month of January, even February was a tepid month for IPOs, with most of the companies preferring to remain in the side lines despite SEBI having approves their DRHPs. With 2 full months of the new year gone, the year 2022 has been a major disappointment so far with just a handful of IPOs completed during the current year. In contrast, year 2021 saw 65 IPOs raising over Rs.1.31 trillion with 64 of these issues getting oversubscribed. There are big targets for FY23, but the start has been very tepid. Let us turn to what March 2022 holds in store for the Indian IPO market.


How will IPOs pan out in March 2022?


Year 2022 will be the year when the LIC IPO will have its tryst with capital markets and the Finance Minister has confirmed in the Union Budget discussion that the LIC IPO will happen affirmatively in March 2022. A large number of IPOs are all set but most of the companies are likely to wait till the LIC IPO is completed as it is likely to result in sucking out a considerable amount of liquidity from the IPO markets.


Upcoming IPOs in March 2022
 

Company Name

IPO Size (Estimated)

Timing of IPO

 

 

 

Life Insurance Corporation (LIC)

Rs.66,000 crore (approx.) via OFS

March 2022

National Stock Exchange

Rs.10,000 crore

March 2022

OYO Rooms

Rs.8,430 crore

March 2022

Delhivery

Rs.7,460 crore

March 2022

Ruchi Soya

Rs.4,300 crore

March 2022

Go Airlines

Rs.3,600 crore

March 2022

MobiKwik

Rs.1,900 crore

March 2022

Arohan Financial Services

Rs.1,800 crore

March 2022

Le Travenues Technologies (IXIGO)

Rs.1,600 crore

March 2022

Penna Cements

Rs.1,550 crore

March 2022

Paradeep Phosphates

Rs.1,255 crore + 12 cr shares OFS

March 2022

ESAF Small Finance Bank Ltd

Rs.998 crore

March 2022

Tracxn Technologies

Rs.500 crore

March 2022

Skanray Technologies

Rs.400 crore + OFS

March 2022

ESDS Software Ltd

Rs.322 crore + OFS

March 2022

 

Here is a quick summary of companies expected to hit the IPO market in the month of March 2022. However, this is only an indicative list as of now.

1. Life Insurance Corporation (LIC)

The IPO of LIC will entirely be an offer sale wherein the government will hive off 5% of its stake or nearly 3.2 crore shares to the public. The size of the issue is about Rs.66,000 crore and the price band and dates are yet to be announced.

LIC is expected to open the IPO around the 11-Mar to ensure that it is able to complete all the IPO formalities and list the IPO before the close of the fiscal year. Government is counting on the LIC IPO to help them meet their disinvestment targets of Rs.78,000 crore. The company has reserved 10% of the issue size for policyholders.

2. National Stock Exchange

India’s pioneer in online trading and one of the largest stock exchanges in the world in terms of derivative volumes, NSE will hit the IPO market after a long delay. The NSE has finally got the approval from the regulator to go ahead with its Rs.10,000 crore IPO. As per extant rules, stocks exchanges cannot list in their own exchanges so NSE may look at multiple listing on the BSE and also on an international exchange.

3. OYO Rooms

One of India’s earliest and most successful hospitality start-ups in the digital rooms business, is planning to tap the market for raising Rs.8,430 crore. However, it is possible that the company may settle for a smaller price and lower valuations. The IPO will comprise of Rs.7,000 crore of fresh issue and Rs.1,430 crore of offer for sale by existing holders.

4. Delhivery

One of India’s foremost new age logistics company is planning to tap the IPO market with a Rs.7,460 crore IPO. This will comprise of an offer for sale of Rs.2,460 crore and a fresh issue of Rs.5,000 crore. Delhivery handles end to end logistics services for most of the ecommerce players in India and services one of the largest PIN networks nationally. The Delhivery IPO has been on hold for some time due to the uncertainty surrounding digital IPO performance post listing.

5. Ruchi Soya

Ruchi Soya plans to hit the Follow-on Public Offer (FPO) market with a Rs.4,300 crore issue, for which SEBI approval has already been received. Ruchi Soya had been acquired by Patanjali in 2019. It is one of India’s largest oil meal exporters. Its popular brands include Mahakosh Oil, Sunrich Oil, Ruchi Gold, Nutrela Soya Foods, Ruchi Star Oil etc.

6. Go Airlines

The Rs.3,600 crore IPO will comprise entirely of a fresh issue. The issue proceeds will be used for reduction of debt including payables like the fuel dues to IOCL and lease rentals on aircraft. Go Air, as per latest DGCA data, has 9.1% market share in domestic routes.

7. MobiKwik

The Rs.1,900 crore for MobiKwik IPO comprises of a fresh issue of Rs.1,500 crore and an OFS of Rs.400 crore. The issue was to be launched in the Dec-21 quarter but was postponed after the weak listing of Paytm. MobiKwik offers a robust payment wallet as well as a special BNPL (buy no pay later) digital plan for customers and for merchants.

8. Arohan Financials

The Rs.1,800 crore IPO will comprise of a fresh issue of Rs.950 crore and an offer for sale of Rs.850 crore. Arohan is an NBFC and is also into microfinance serving the unpenetrated segments of the market. The IPO will help boost its capital adequacy.

9. Ixigo (Le Travenues Technologies)

The Rs.1,600 crore IPO will comprise of a fresh issue of Rs.850 crore and an offer for sale of Rs.750 crore. It is one of the few artificial intelligence based platforms for booking flights, trains and hotels and has been around for over 14 years now. While it is in the travel business, its business model is more B2B in nature.

10. Penna Cement

The Rs.1,550 crore IPO will comprise of a fresh issue of Rs.1,300 crore and an offer for sale of Rs.250 crore. This is the second attempt of this Hyderabad based cement company and will be used to reduce debt and for expansion.

11. Paradeep Phosphates

The Paradeep Phosphates IPO will comprise of a fresh issue of Rs.1,255 crore and an offer for sale of 12 crore shares by existing shareholders. Paradeep, based out of Odisha, is into the manufacture of phosphatic fertilizers.

12. ESAF Small Finance Bank

ESAF SFB is based out of Kerala and specializes in micro loans. The Rs.998 crore IPO comprises of a fresh issue of Rs.800 crore and an offer for sale (OFS) of Rs.198 crore. The fresh issue portion will be used to boost its capital adequacy and to make funds available to on-lend in its core lending business.

13. Tracxn Technologies

The IPO will comprise of an offer for sale (OFS) of 386.72 lakh shares by the promoters and early investors. Tracxn offers a subscription service for investment bankers, corporates and PE funds to track the private and unlisted companies in emerging technology space.

14. Skanray Technologies

The Skanray Technologies IPO will comprise of a fresh issue of Rs.400 crore and an offer for sale of 141.06 lakh shares with price to be decided. The company focuses on the Indian medical devices market and designs, develops and manufactures medical devices.

15. ESDS Software

The ESDS Software IPO was expected to hit the IPO market in the first half of January but was put off to Feb-22 amidst negative market sentiments. ESDS issue will comprise of a fresh issue of Rs.322 crore and an offer for sale of 2.15 crore shares. ESDS is a Nashik based cloud services company catering to organizations in the private and the government sector.

Also Read:-

Upcoming IPOs in 2022

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