Investors eyeing the Indian market have an exciting week ahead with five promising Initial Public Offerings (IPOs) set to hit the market. Let’s delve into the details of upcoming IPOs next week that are poised to capture investor attention:
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1. Juniper Hotels – First of the Upcoming IPOs Next Week
Juniper Hotels will be the first one to hit the primary market among upcoming IPOs next week. With a substantial issue size of INR 1,800 crore, it stands as the largest offer of 2024 thus far. Notably, this IPO comprises an entirely fresh issue and there will be no sale by existing investors. The IPO has been priced at INR 342 – 360 per share.
As the leading owner of Hyatt-affiliated hotels in India, Juniper Hotels boasts a portfolio of seven properties, with a total capacity of 1,836 rooms. The company’s robust financial performance, marked by a significant surge in revenue and a reduced net loss for FY23, further amplifies its appeal.
2. GPT Healthcare
Kolkata-based GPT Healthcare is set to launch its IPO on February 22, 2024. This IPO encompasses a combination of fresh issue and an Offer For Sale (OFS) by private equity firm BanyanTree Growth Capital.
GPT Healthcare operates and manages mid-sized multispecialty hospitals under the ILS Hospitals brand. Investors may find the company’s impressive Debt/Equity ratio of 0.39 and RoNW of 23.77% appealing. The IPO is expected to garner interest from investors seeking exposure to the healthcare sector in India.
3. Zenith Drugs
Indore-based Zenith Drugs, a pharmaceutical company specializing in high-quality, cost-effective generic medicines, is also included among the upcoming IPOs next week. Zenith Drugs offers a wide range of pharmaceutical formulations adhering to WHO-GMP standards and certified by ISO 9001:2015.
The SME IPO, open for subscription from February 19 to February 22, 2024, features a price band of INR 75-79 per share and a lot size of 1,600 shares. Going by the IPO grey market, the anticipated listing price for Zenith Drugs SME IPO is estimated to be INR 86.
4. Deem Roll Tech
Deem Roll Tech – a manufacturer of alloy steel and cast iron products – is set to launch its IPO in the SME segment. The public offer opens for subscription on February 20 and closes on February 22, 2024. The company aims to raise around INR 29 crore, with the price per share set at INR 129.
A consistent rise in topline and bottomline, and a pre-IPO PE ratio of less than 11 are the highlights attracting investors.
5. Sadhav Shipping
Finally, Sadhav Shipping has announced plans to launch its IPO for subscription from February 23 to February 27, 2024. With an issue price of INR 95 per share, the total issue size is approximately INR 38.18 crore, comprising 4,018,800 equity shares with a face value of INR 10 each. The IPO is expected to list on the NSE SME on March 1, 2024. The company provides marine transportation services, offshore logistics, and oil, dry docking, ship repairs, and boat maintenance services.
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.
