In India’s primary market, next week is likely to be interesting with as many as eight companies going public with initial public offerings (IPOs). With industries spanning from telecommunications and fintech to infrastructure and education, investors will have plenty of options to choose from while also navigating the uncertainty as a result of union budget 2024. Here’s an overview of the eight companies launching their IPOs and what you should know about them.
Table of Contents
1. RNFI Services – First Among the Upcoming IPOs Next Week
RNFI Services will be the first one to hit the primary market among upcoming IPOs next week. The IPO is priced between INR 98 – 105 per share, with total issue size of approximately INR 70.81 crore. The absence of upper investment limits for high-net-worth individuals (HNIs) and non-institutional investors (NIIs) is expected to drive higher demand. With a strong financial track record, RNFI Services is a compelling option for investors seeking growth in the fintech space. The IPO will be open for subscription from July 22 to July 24, 2024.
Established in 2015, RNFI Services offers B2B and B2B2C solutions, including banking, digital services, and Government-to-Citizen (G2C) services. Processing over 1.15 crore transactions monthly and having a broad network of 3.60 lakh partners, RNFI’s market presence is significant.
2. SAR Televenture FPO – Telecommunications Player to Raise INR 150 crore
SAR Televenture is making headlines with its Follow-on Public Offer (FPO), seeking to raise INR 150 crore. The funds will be used to expand its Fiber-to-the-Home (FTTH) network and establish additional 4G/5G telecom towers. Specifically, INR 273 crore is earmarked for FTTH initiatives, INR 42.5 crore for new telecom towers, and INR 30 crore for working capital needs. IN addition to the FPO, the company has also lined up a rights issue for raising funds.
SAR Televenture’s financial performance is noteworthy, with net profits surging from INR 3 lakh in 2021-22 to INR 15.66 crore in 2023-24. This robust growth, coupled with the installation of over 413 telecom towers across multiple states, positions the company well to meet the rising demand for telecommunication services. Earlier in November 2023, SAR Televenture IPO mobilized INR 25 crore.
3. VL Infraprojects
Between July 23 and July 25, 2024, VL Infraprojects IPO aims to raise approximately INR 18.52 crore. Priced between INR 39 – 42 per share, the fresh issue of 44,10,000 shares will directly benefit the company, enhancing its financial position and growth prospects.
Specializing in water infrastructure and irrigation projects, VL Infraprojects has demonstrated strong revenue and profit growth over the past three years. This solid business model, combined with favorable financial metrics, makes VL Infraprojects a noteworthy investment opportunity in the SME segment.
4. VVIP Infratech – Offer Size of INR 61.21 crore
Ghaziabad-based VVIP Infratech is also among the upcoming IPOs next week. Scheduled to open on July 23, 2024, the offer aims to raise approximately INR 61.21 crore. The company specializes in civil and electrical contracting and has over two decades of experience. Its involvement in critical projects such as sewage treatment plants and water distribution systems positions it well in the growing infrastructure market.
With shares priced between INR 91- 93, VVIP Infratech’s financial performance has shown significant revenue growth and profitability. Presence of robust grey premium indicates that the IPO is likely to get good subscription. This combination of a robust business model and attractive pricing makes VVIP Infratech’s IPO an intriguing prospect for investors.
5. Chetana Education
Chetana Education IPO is set to open on July 24, 2024, offers a compelling opportunity due to its strong market positioning in educational publishing for CBSE and Maharashtra State Board curriculum. With over 6 million books sold and significant revenue growth, the company aims to raise INR 45.90 crore through the IPO.
Priced between INR 80 – 85 per share, the proceeds will be used to repay borrowings and support operational needs. Chetana’s integration of digital content, including educational videos accessible via QR codes, aligns with the growing trend towards digital learning, making it an attractive investment in the evolving education sector.
6. Manglam Infra
Manglam Infra and Engineering IPO, scheduled from July 24 to July 26, 2024, aims to raise approximately INR 27.62 crore. Priced between INR 53 and INR 56 per share, the company boasts a strong team of over 300 professionals.
The IPO’s grey market premium (GMP) indicates positive sentiment, suggesting potential listing gains. This, combined with Manglam Infra’s strategic market positioning and operational capabilities, makes the IPO particularly attractive for both retail and institutional investors.
7. Clinitech Laboratory
Clinitech Laboratory IPO, opening from July 25 to July 29, 2024, is priced at INR 96 per share. With a long-standing presence in the diagnostic sector, Clinitech offers over 150 health-related tests across its eight accredited centers in Thane and Navi Mumbai.
Conducting more than 300,000 tests annually, Clinitech demonstrates significant market presence and capacity. The fixed pricing established reputation, and growing importance of healthcare diagnostics make Clinitech a potentially attractive investment. The IPO is part of the SME segment of the Bombay Stock Exchange.
8. Aprameya Engineering
Aprameya Engineering IPO, set to open on July 25, 2024, aims to raise approximately INR 29.23 crore. The company focuses on the medical equipment sector, which is experiencing robust growth. Priced between INR 56 and INR 58 per share, the IPO will be listed on the NSE SME.
With a retail quota of 35%, a QIB quota of 50%, and an NII quota of 15%, the minimum investment for retail investors is set at INR 116,000 for a lot of 2000 shares. The quick turnaround with the allotment date on July 30, 2024, and listing on August 1, 2024, adds to the attractiveness of this offering, making it a noteworthy consideration for investors looking to capitalize on emerging market trends in healthcare.
Upcoming IPOs Next Week – Conclusion
Quite clearly, this list of upcoming IPOs next week offers a range of investment opportunities across various sectors to prospective investors. From SAR Televenture’s expansion in telecommunications to Aprameya Engineering’s growth in medical equipment, these IPOs present promising prospects for investors. Nevertheless, Careful consideration of each company’s financial performance, market positioning, and growth potential will be key to making informed investment decisions.
In addition to the above-mentioned upcoming IPOs, there will be several SEBI approvals, listings, and allotment status updates of the recently concluded offers. Investors keen on these IPOs should stay informed about the latest updates including live subscription by checking IPO Central regularly and subscribing to our notifications.
