Upcoming IPOs in June 2022

Upcoming IPO in June 2022

IPO
by 5paisa Research Team Last Updated: Jun 03, 2022, 02:40 PM IST

The month of May 2022 was significant for the markets in a number of ways. It was the month that finally saw the LIC IPO coming to fruition. Of course, the eventual size and valuations were lower than originally anticipated. However, at Rs21,008 crore, LIC still remains the largest IPO by a margin. 

The other big IPO was the Rs5,235 crore IPO of Delhivery Ltd. The digital logistics company also got a fairly tepid response to the IPO like LIC. However, in post listing terms, while LIC continues to trade at a discount to the issue price, Delhivery, stock has managed to trade above the IPO price of the stock. In reality, there were other stories too on the IPO front as far as May 2022 are concerned.

A total of 7 IPOs listed on the stock exchanges in the month of May 2022, of which 4 are in the green while 3 are in the red. The top performer among IPOs listed in May 2022 was Campus Activewear, which is quoting at a premium of 22% above the issue price. The second best performer was Delhivery Ltd, which is trading 11.09% above the IPO price

The worst performer in May 2022 was Prudent Corporate Advisory, which trades at a discount of -18.94% to the issue. The mega LIC IPO is also trading at a discount of -13.43% to the IPO price. Clearly, the subscriptions and the post-listing has not been too encouraging.

How will IPOs pan out in June 2022?

A long list of IPOs that have been approved are awaiting in the side lines for the completion of the LIC IPO. With the LIC IPO done and dusted, the focus is now on the global macro and geopolitical situation. That remains fluid and may be a roadblock to smooth flow of IPOs.
 

Company Name

IPO Size (Estimated)

Timing of IPO

 

 

 

MAY 2022 LATE MONTH IPOS

Paradeep Phosphates Ltd

Rs.1,501.73 crore

17-May to 19-May

Ethos Ltd

Rs.472.29 crore

18-May to 20-May

eMudhra Ltd

Rs.412.79 crore

20-May to 24-May

Aether Industries Ltd

Rs.808.04 crore

24-May to 26-May

IPOS SCHEDULED FOR JUNE / JULY 2022

National Stock Exchange

Rs.10,000 crore

June / July 2022

OYO Rooms

Rs.8,430 crore

June / July 2022

Aadhar Housing Finance

Rs.7,300 crore

June / July 2022

OLA Cabs

Rs.7,300 crore

June / July 2022

PharmEasy Ltd

Rs.6,250 crore

June / July 2022

Bajaj Energy Ltd

Rs.5,450 crore

June / July 2022

Bharat FIH Ltd

Rs.5,000 crore

June / July 2022

Emcure Pharma

Rs.4,500 crore

June / July 2022

Go Airlines

Rs.3,600 crore

June / July 2022

BOAT Electronics

Rs.3,500 crore

June / July 2022

Droom Technologies

Rs.3,000 crore

June / July 2022

Gemini Edibles and Fats

Rs.2,500 crore

June / July 2022

Jana Small Finance Bank

Rs.2,000 crore

June / July 2022

MobiKwik

Rs.1,900 crore

June / July 2022

SAMHI Hotels

Rs.1,800 crore

June / July 2022

Arohan Financial Services

Rs.1,800 crore

June / July 2022

Northern Arc Capital

Rs.1,800 crore

June / July 2022

Le Travenues Technologies (IXIGO)

Rs.1,600 crore

June / July 2022

Penna Cements

Rs.1,550 crore

June / July 2022

Utkarsh Small Finance Bank

Rs.1,350 crore

June / July 2022

Fincare Small Finance Bank

Rs.1,330 crore

June / July 2022

Snapdeal Ltd

Rs.1,250 crore + OFS

June / July 2022

Sterlite Power Transmission

Rs.1,250 crore

June / July 2022

Park Hotels

Rs.1,000 crore

June / July 2022

Fabindia Ltd

Rs.998 crore

June / July 2022

ESAF Small Finance Bank

Rs.998 crore

June / July 2022

Keventer Agro

Rs.800 crore

June / July 2022

Inspira Enterprises

Rs.800 crore

June / July 2022

Shri Bajrang Power & Ispat

Rs.700 crore

June / July 2022

Muthoot Microfin Ltd

Rs.700 crore

June / July 2022

Chemspec Chemicals

Rs.700 crore

June / July 2022

Fusion Microfinance

Rs.600 crore

June / July 2022

Seven Islands Shipping

Rs.600 crore

June / July 2022

Hexagon Nutrition

Rs.600 crore

June / July 2022

Tracxn Technologies

Rs.500 crore

June / July 2022

Hinduja Leyland Finance

Rs.500 crore

June / July 2022

Skanray Technologies

Rs.400 crore + OFS

June / July 2022

ESDS Software Ltd

Rs.322 crore + OFS

June / July 2022

 

Here is a quick summary of companies expected to hit the IPO market in the month of June / July 2022, although the dates and the price bands are yet to be announced for companies. Th eventual IPO decision predicates on a number of factors. The below list is only an indicative list as of now.

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.

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.
 

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Ola Cabs

India’s largest local cab hailing service is planning to go public with a Rs.7,300 crore public issue. As of now Ola Cabs is yet to finalize whether it wants to go ahead with the now and if so then at what valuations and at what issue size. It is very likely that the issue size and the valuations of Ola Cabs may be cut. Ola Cabs has also made a big bet on electric scooters as part of its EV franchise enhancement plan.

PharmEasy

API Holdings Ltd, the company that owns the PharmEasy brand is an online portal that connects pharmacies and customers and is one of the largest online retailers of medicines. The portal is also rich in content to include online doctor consultations and online prescriptions. The issue size is expected to be around Rs.6,250 crore. The IPO proceeds will be largely used to defray the debt of the company. 

Bajaj Energy

The Rs.5,450 crore IPO will comprise of a fresh issue of Rs.5,150 crore and an offer for sale of Rs.300 crore. Out of the fresh proceeds, Bajaj Energy plans to use close to Rs.4,927 crore to buy the Lalitpur Power Generation company. However, Bajaj Energy is a pure thermal energy company, but in the last few quarters, the valuation metrics of power companies are clearly shifting in favour of the renewable power companies.

Bharat FIH

Bharat FIH is the Indian arm of Foxconn of Taiwan and is largely into Electronics Manufacturing Services (EMS). The Rs.5,004 crore IPO will be equally split between a fresh issue and an offer for sale. The fresh issue component will be largely used by the company to pay a special dividend to its parent company. One of the biggest clients of Bharat FIH in India is Xiaomi Mobiles of China. Globally, Foxconn is one of the biggest outsources for Apple Inc.

Emcure Pharma

Emcure Pharma is among the leading pharmaceutical companies in India and is based out of Pune. The company plans to come out with a public issue of Rs.4,500 crore which will comprise of Rs.1,100 crore by way of fresh issue and Rs.3,400 crore by way of an offer for sale (OFS). The fresh issue proceeds will be used to defray the loans of the company.

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.

Boat Electronics

BOAT Electronics is largely into the business of audio equipment and wearables. It has a product portfolio comprising of headphones, earphones, wireless speakers and wearables. The Rs.2,000 crore IPO will comprise of a fresh issue of Rs.900 crore and an offer for sale of Rs.1,100 crore. The promoter and founder of the company has been a popular name and is an active participant in Shark Tank and other popular shows.

Droom Technologies

The Rs.3,000 crore IPO will comprise of a fresh issue of Rs.2,000 crore and an OFS of Rs.1,000 crore. Droom offers a marketplace to buy and sell new and used cars and two wheelers and competes with the likes of CarTrade and Cars24. The new issue will be used for organic and inorganic growth in the coming years.

Gemini Edibles and Fats

The food input company is planning an IPO of Rs2,500 crore that will entirely be an offer for sale (OFS). There will be no fresh issue component to the issue. The promoters of the company and some of the early shareholder investors will be offering their shareholdings as part of the OFS.

Jana Small Finance Bank

Jana Small Finance Bank is predominant in the rural and semi-urban areas of India with a larger goal of financial inclusion in these areas. The Rs.2,000 crore IPO will be split into an offer for sale of Rs.1,300 crore and a fresh issue of Rs.700 crore. Being a small finance bank, it will use the funds from the fresh proceeds to spruce up its Tier-1 capital.

MobiKwik

The Rs.1,900 crore IPO of MobiKwik 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.

SAMHI Hotels

The IPO of SAMHI Hotels is expected to be in the range of Rs1,800 crore to Rs2,000 crore. Out of the IPO, Rs1,100 crore will be raised by way of a fresh issue and the balance via offer for sale. SAMHI Hotels plans to offer 1.91 crore shares as part of the IPO. It had originally planned its IPO in 2019, but had to put off plans due to adverse market conditions.

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.

Northern Arc Financials

The public issue of Northern Arc Financial comprises of a fresh issue of Rs.300 crore and an offer for sale of 365.21 lakh shares. Northern Arc extends small ticket loans to individuals and to small businesses. The fresh issue will be largely used to boost its Tier-1 capital base so that it can expand its asset book in the future with ease.

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.

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.

Utkarsh Small Finance Bank

The Rs.1,350 crore IPO of Utkarsh SFB will comprise of a fresh issue of Rs.750 crore and an offer for sale (OFS) of Rs.600 crore. Utkarsh also offers its services to the small unbanked population and will largely use the fresh funds to boost its Tier-1 capital base so as to facilitate asset book expansion in the future.

Fincare Small Finance Bank

The Rs.1,330 crore IPO of Fincare SFB will comprise of a fresh issue of Rs.330 crore and an offer for sale (OFS) of Rs.1,000 crore. Fincare also offers its services to the largely unbanked population and will use the fresh funds to boost its Tier-1 capital base so as to facilitate easy loan book expansion in the future.

Sterlite Power

The Rs.1,250 crore IPO of Sterlite Power will entirely be a fresh issue of shares. The company has been in existence for some time and will use the proceeds of the fresh issue to fund its debt repayment, apart from general expenses.

Park Hotels

Park Hotels is part of the Apeejay Surendra Group. The Rs.1,000 crore IPO of Park Hotels will comprise of a fresh issue of Rs.400 crore and an offer for sale of Rs.600 crore. The company will use the fresh issue proceeds towards repayment and prepayment of loans. ICICI Securities, Axis Capital and JM Financial are the book running lead managers to the issue.

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.

Keventer Agro Ltd

The Rs.800 crore IPO of Keventer Agro will comprise of a fresh issue of Rs350 crore and the balance via offer for sale. Keventer Agro is the largest FMCG company based out of Eastern India. Keventer will use the fresh proceeds to retire debt and to fund capex. The issue is being lead managed by ICICI Securities, Axis Capital and JM Financial.

Inspira Enterprises

Inspira Enterprises is an enterprise solutions provider, owned by the Prakash Jain family. The Rs.800 crore IPO comprise of a fresh issue of Rs.300 crore and an offer for sale (OFS) of Rs.500 crore. The fresh issue proceeds will be used by the company for working capital purposes and also for repayment of debt. It offers wide solutions cross verticals.

Shree Bajrang Power & Ispat

The company is a major play on the metal space. It is into the manufacture of steel, iron ore pellets and sponge iron. The funds raised via the public issue will be used by Shree Bajrang Power & Ispat largely to repay its debt and deleverage its balance sheet.

Chemspec Chemicals

Chemspec Chemicals, a global manufacturer of UV absorbers, manufactures key ingredients for the global skin care, hair care and body care treatments. The entire Rs700 crore would be by way of an offer for sale. It manufactures critical inputs for the treatment of fungal infections and has a 70% market share in this product.

Fusion Microfinance

The IPO of Fusion Microfinance will comprise of a fresh issue of Rs.600 crore and an offer for sale above that. The fresh funds of Rs.600 crore will be used to boost the capital buffers to enable expansion of the microfinance asset book. Fusion Microfinance may look at a pre-IPO placement of Rs.120 crore, in which case the IPO size will be reduced proportionately.

Seven Islands Shipping

This is a seaborne logistics company which is planning an IPO of Rs600 crore. The IPO will comprise of a fresh issue of Rs400 crore and an offer for sale of Rs200 crore. It will use the proceeds from fresh issue to acquire large crude carrier vessel and a medium range vessel. The company was to originally tap the IPO market in 2017, but had to be shelved.

Hexagon Nutrition

The company is into the business of researching and manufacturing nutrition products for the Indian market. It plans to raise Rs.600 crore through the public issue, comprising of a fresh issue of Rs.100 crore and an offer for sale of Rs.500 crore. The fresh funds raised through the IPO will be largely used for repayment of debt.

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.

Hinduja Leyland Finance

Hinduja Leyland Finance is a leading vehicle finance NBFC and largely focusses on the urban and the semi urban market. Ashok Leyland and Hinduja Ventures are the promoters of this company. Axis Capital will be among the lead managers to the issue.

Skanray Technologies

The IPO of Skanray Technologies 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.

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.

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Disclaimer

Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.

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