Next week promises to be an exciting time for investors with as many as four companies going public with initial public offerings (IPOs). Let’s dive into the details of upcoming IPOs next week that are poised to capture investor attention.
IPOs Next Week
Garuda Construction – Mainboard Entry in IPOs Next Week
Garuda Construction and Engineering IPO opens for subscription on 8 October 2024 and closes on 10 October 2024. The IPO size is INR 264.10 crores, priced between INR 92 – 95 per share. The allotment for Garuda Construction IPO is expected to be finalized on Friday, 11 October 2024, and shares are scheduled to be listed on both the NSE and BSE on 15 October 2024.
Garuda Construction offers a variety of services, including operations and maintenance, mechanical, electrical, and plumbing (MEP) services, as well as finishing works. The investments highlighted in the Union Budget 2022-23, aimed at enhancing public infrastructure, are expected to gain momentum, supported by initiatives such as Atmanirbhar Bharat, Make in India, and the Production-Linked Incentive (PLI) scheme across various sectors. The primary objective of this issue is to secure working capital to facilitate ongoing operations and future growth.
The company has experienced significant growth in its revenue from operations, increasing from INR 77.02 crore in Fiscal 2022 to INR 154.18 crore in Fiscal 2024, reflecting a robust Compound Annual Growth Rate (CAGR) of 26.03%. As of May 2024, the company boasts a substantial order book totaling INR 1,408.27 crore. This impressive figure encompasses 12 ongoing projects, of which seven projects each have a contract value exceeding INR 100 crore.
Read Also: Garuda Construction IPO Review – 10 Key Points Investors Should Know
Khyati Global Ventures – Continued From Last Week
Opened for subscription last week, Khyati Global Ventures IPO will close on 8 October 2024. Priced at INR 99 per share, the IPO aims to raise approximately INR 18.30 crores through the issuance of 1,848,000 shares. The allotment of shares for this IPO is anticipated to be finalized on Wednesday, 9 October 2024, with shares expected to be listed on the BSE on 11 October 2024.
Khyati Global Ventures specializes in exporting and repackaging a diverse range of fast-moving consumer goods (FMCG), including food, non-food items, household products, festive handicrafts, and pharmaceuticals, catering to over 40 countries worldwide. The company has demonstrated impressive financial performance, with significant revenue growth from INR 91.90 crore in FY2022 to INR 103.46 crore in FY2024. Additionally, it boasts a remarkable return on net worth (RoNW) of 21.31%, underscoring its robust market position and profitability.
Shiv Texchem – Above INR 100 Crore
The upcoming IPO of Shiv Texchem is scheduled to open from 8 to 10 October 2024. The IPO aims to raise INR 101.35 crores, with shares priced in the range of INR 158 to INR 166 per share. Investors can bid for a minimum lot of 800 shares, which requires a minimum investment of INR 1,32,800. The allotment of shares is expected on 11 October 2024, with trading set to commence on the 15 October 2024 on the BSE.
Shiv Texchem imports and distributes hydrocarbon-based chemicals, including Acetyls, Alcohols, Aromatics, Nitriles, Monomers, Glycols, Phenolics, Ketones, and Isocyanates. These chemicals have diverse applications across industries such as paints and coatings, printing inks, agrochemicals, specialty polymers, pharmaceuticals, and industrial chemicals.
The company has shown significant growth, expanding its product portfolio from 21 to 39 products and increasing its customer base from 400 to 650 customers by FY 2024. This expansion is reflected in its financial performance, with revenues growing from INR 858.66 crore in FY 2022 to INR 1,534.90 crore in FY 2024, and net profits rising from INR 13.86 crore to INR 30.11 crore during the same period. This strong upward trajectory positions Shiv Texchem as an attractive investment option for investors seeking stable and potentially rewarding returns.
Read Also: Garuda Construction IPO GMP, Price, Date, Allotment
Pranik Logistics: Latest Among IPOs Next Week
Another offer announced recently for next week is Pranik Logistics. This Kolkata-based logistics player plans to raise INR 22.47 crore by issuing 29,18,400 shares in the price range of INR 73 – 77 per share. The IPO opens on 10 October 2024 and listing is expected by 17 October 2024.
The highlight of the company is the strong revenue growth posted in recent years. From a topline of INR 20.7 crore in FY 2021, the company more than tripled its revenue to INR 66.8 crore in FY 2024. Similarly, its profits grew manifold during the period. Additionally, the IPO is priced in the PE ratio range of 9.7 – 10.2 which is quite attractive.
Upcoming IPOs Next Week – Conclusion
Although there are fewer numbers to talk about, there is certainly big money involved in IPOs next week. With an SME IPO aiming for over INR 100 crore, things will be surely interesting. In addition, chances of successful allotment are also somewhat better. In addition, focus will be on specific offers like Hyundai India IPO and NTPC Green Energy IPO where investor interest will be very high.
In addition to the upcoming IPOs, investors can also anticipate updates on several SEBI approvals, listings, and allotment statuses for recently concluded offerings. Those interested in these IPOs should remain vigilant about the latest developments, including live subscription data, by regularly visiting IPO Central and subscribing to our notifications.
