This week promises to be an exciting time for investors with as many as fourteen companies going public with initial public offerings (IPOs). Let’s delve into the details of upcoming IPOs this week that are poised to capture investor attention.
IPOs This Week
Bajaj Housing Finance: First among mainboard IPOs this week on 9 September
Bajaj Housing Finance IPO opens for subscription on 9 September 2024 and closes on 11 September 2024. The IPO size is INR 6,560 crores, priced between INR 66 – 70 per share. The allotment for the Bajaj Housing Finance IPO is expected to be finalized on Friday, 12 September 2024, and shares are scheduled to be listed on both the NSE and BSE on 16 September 2024.
The Bajaj Housing Finance IPO is generating significant interest among investors due to its strong market positioning and robust financial performance. As a subsidiary of Bajaj Finance, one of India’s leading financial services companies, Bajaj Housing Finance has established itself as a key player in the housing finance sector since its inception in 2008.
The company’s primary focus is on individual retail housing loans, complemented by an assortment of lease rental discounting and developer loans, serving a broad customer base from individual homebuyers to large developers. As of 31 March 2024, the company’s AUM stood at INR 91,370.40 crore, showing a compound annual growth rate (CAGR) of 30.9% between Fiscals 2022 and 2024.
Tolins Tyres: Second among mainboard IPOs this week on 9 September
Tolins Tyres’ offer is expected to raise approximately INR 230 crore, the issue is priced between INR 215 – 226 per share. The IPO opens for subscription on Monday, 9 September 2024, and closes on Friday 11 September 2024. The company will be listed on NSE and BSE on 16 September 2024.
Started in 1982, Tolins Tyres makes tyres for two-wheelers, three-wheelers, light commercial vehicles, and agricultural applications. With a strong export presence in 40 countries and a robust domestic network of over 3,700 dealers, Tolins Tyres has built a solid foundation for growth and market penetration, making it an attractive prospect for potential investors.
Tolins Tyres has demonstrated strong performance metrics, with a basic earnings per share (EPS) of INR 6.58 and a return on net worth (RoNW) of 25.87%, outperforming many of its industry peers.
Kross Limited: 9 September
Kross Limited’s upcoming IPO, scheduled from September 9 to September 11, 2024, offers an attractive opportunity for investors. The company, a leading manufacturer of trailer axles and suspension assemblies for medium and heavy commercial vehicles, has a strong market presence and a solid financial track record. The IPO has a total issue size of INR 500 crore, comprising a fresh issue and an offer for sale, each valued at INR 250 crore. The price band is set between INR 228 and INR 240 per share, making it accessible for retail investors, who can invest in lots of 62 shares, with a minimum investment of approximately INR 14,880.
PN Gadgil Jewellers: Issue size of INR 1,100 crores
PN Gadgil Jewellers’ upcoming IPO, set to launch on September 10, 2024, presents an appealing opportunity for investors. The company aims to raise INR 1,100 crores through the IPO, with INR 850 crores from a fresh issue and INR 250 crores from an offer for sale. The funds will support significant expansion plans, including the opening of 12 new stores across Maharashtra, thereby strengthening its retail presence in a competitive market. Established in 2013, P N Gadgil Jewellers is the second-largest organized jeweler in Maharashtra, offering a diverse range of gold, silver, platinum, and diamond jewelry, underpinned by a strong brand identity.
PN Gadgil Jewellers has demonstrated impressive financial growth, with a revenue increase of 76% in FY23, reaching INR 4,507 crores. Additionally, the company has achieved an EBITDA growth rate of 56.5% between FY21 and FY23, reflecting strong operational performance and a robust business model.
Aditya Ultra Steel: Foremost among SME IPOs this week
Aditya Ultra Steel is among the most exciting IPOs this week. Aditya Ultra Steel manufactures TMT bars under the Kamdhenu brand for the construction and infrastructure industries. The company uses a reheating furnace and rolling mill to produce TMT bars from billets. The company operates on a B2B basis, primarily serving customers in Gujarat.
Aditya Ultra Steel IPO is scheduled to open on 9 September 2024 and close on 11 September 2024, the issue offers 74 lakh equity shares sized between INR 43.66 – 45.88 crore with issue price of INR 59 – 62 per share. The shares are expected to be listed on 16 September 2024 on NSE Emerge platform.
Shubhshree Biofuels Energy
Between 9 September 2024 and 11 September 2024, Shubhshree Biofuels IPO aims to raise approximately INR 15.73 – 16.56 crore. Priced between INR 113 – 119 per share, the fresh issue of 13,92,000 shares sized between INR 15.73 – 16.56 crore will directly benefit the company, enhancing its financial position and growth prospects. The allotment is expected to be finalized on Thursday, 12 September 2024.
Established in 2013, Shubhshree Biofuels Energy supplies biomass fuels, such as biomass pellets and briquettes, to customers in various sectors, including recycled materials, textile processing, pharmaceuticals, and metal industries. The company has shown remarkable expansion, with revenue soaring from INR 5.97 crores in FY 2023 to INR 9.49 crores in FY 2024—an impressive 59% increase. This upward trend is driven by a dramatic rise in biomass sales, which surged from 9,700 tonnes in 2022 to a staggering 121,800 tonnes in 2024.
Share Samadhan
Share Samadhan IPO is set to open on 9 September 2024 and close on 11 September 2024. The IPO’s total size is 32,51,200 shares valued at INR 24.06 crore. The issue price for the IPO is INR 70 – 74 per share with a lot size of 1,600 shares. The allotment for the Share Samadhan IPO is expected to be finalized on Thursday, 12 September 2024. The company IPO will be listed on BSE SME on Monday, 16 September 2024.
Share Samadhan is engaged in investment recovery and is involved in value discovery issues and investor grievance resolution related to various financial assets such as stocks, preference shares, mutual funds, bonds, debentures, insurance, reserves, deposits, bank accounts, etc. Share Samadhan has demonstrated impressive financial growth, with revenue increasing by 261% and profit after tax (PAT) rising by 716% between the financial year ending 31 March 2024 and 31 March 2023. The company’s assets stood at INR 14.22 crore as of 31 March 2024, showcasing its financial stability and growth potential.
Gajanand International – 9 September
Gajanand International’s upcoming IPO, scheduled from September 9 to September 11, 2024, presents several compelling factors for investors. Priced at INR 36 per share, the IPO aims to raise approximately INR 20.65 crores through a fresh issue of 5,736,000 shares. The company’s focus on producing sustainable cotton, including varieties like Mech1 and Shankar6, positions it well within the growing demand for eco-friendly products. Gajanand International has demonstrated strong financial performance, with significant revenue growth from INR 61.74 crore in FY2022 to INR 108.66 crore in FY2024, alongside an impressive return on equity (RoE) of 43.73% and a return on net worth (RoNW) of 25.76%.
SPP Polymer
The upcoming IPO of SPP Polymer, set to open from September 10 to September 12, 2024, presents an intriguing opportunity for investors, particularly due to its promising financial growth and strategic positioning in the market. The company has demonstrated a consistent increase in profitability, with net profits rising from INR 0.28 crore in FY22 to INR 0.99 crore in FY24, indicating a robust upward trend that may appeal to potential investors seeking stable returns.
Additionally, the IPO is priced at INR 59 per share with a lot size of 2,000 shares, requiring a minimum investment of INR 1,18,000. This fixed price issue is part of a broader strategy to raise INR 24.49 crore, which could be utilized for expanding operations and enhancing production capabilities.
Trafiksol ITS
Trafiksol ITS Technologies’ upcoming IPO, scheduled to open from September 10 to September 12, 2024, presents several compelling factors for investors. The IPO is priced within a range of INR 66 to INR 70 per share, with a total issue size of INR 44.87 crore dedicated to fresh equity. Trafiksol specializes in intelligent transportation systems and automation, focusing on advanced traffic management, toll management, and tunnel management systems. The company’s recent financial performance underscores its growth potential, with an impressive 80% increase in revenue and a 153% rise in profit after tax from the previous fiscal year.
Excellent Wires – Opens on 11 September
Excellent Wires is a manufacturer of high-quality wire products and packaging solutions. Its product portfolio includes an array of wires, such as Mild Steel Wires (including Annealed, H.B., and H.H.B. variants), Spring Steel Wires, Galvanized Wires (GI Wires), Round Stitching Wires, Spiral Binding Wires, Stainless Steel Wire, Brass Wires, Copper Wires, and Wire Ropes crafted from premium-grade high carbon or stainless steel wire, optionally coated with PVC for enhanced durability and versatility. The company also supplies packaging products such as PP Strapping Rolls and BOPP Self-Adhesive Tapes. Both these categories of products are sold under the ‘Excellent’ brand name.
The IPO is set at a fixed price of INR 90 per share, with a minimum investment requirement of INR 1,44,000 for retail investors, making it accessible for those looking to enter the market. The total issue size of INR 12.60 crores, entirely comprising a fresh issue of shares.
Innomet Advanced Materials
Between 11 September 2024 and 13 September 2024, Innomet Advanced Materials IPO aims to raise approximately INR 34.24 crore. Priced between INR 100 per share, the fresh issue of 34,23,600 shares sized between INR 34.24 crore will directly benefit the company, enhancing its financial position and growth prospects. The allotment is expected to be finalized on Monday, 16 September 2024. Innomet Advanced Materials IPO will be listed on NSE SME on Wednesday, 18 September 2024.
The company is a leading player in the powder metallurgy industry, specializing in the manufacture of metal powders and tungsten heavy alloys. With a strong focus on innovation and technological advancements, Innomet collaborates with renowned research organizations and scientists globally to develop cutting-edge products tailored to the specific needs of end-users. This diversified expertise and commitment to innovation have positioned Innomet as a market leader in its domain.
Envirotech Systems – Opens on 13 September
The upcoming IPO of Envirotech Systems is generating interest among investors for several reasons. Scheduled to open from September 13 to September 17, 2024, the IPO offers shares at a price range of INR 53 to INR 56, with a total issue size of up to INR 28.62 – 30.24 crores. This SME IPO is notable for its relatively low entry point, as investors can purchase a minimum lot of 2,000 shares, making it accessible for both retail and institutional investors looking to diversify their portfolios with emerging companies in the market.
Envirotech Systems is a leading manufacturer of acoustic products, specializing in noise measurement and control solutions for industrial and commercial applications. Envirotech Systems specializes in designing and supplying custom enclosures for noise reduction in machinery and mechanical equipment, suitable for both indoor and outdoor use.Â
Deccan Transcon – 13 September
Deccan Transcon’s Initial Public Offering (IPO) is garnering interest from investors for several reasons. First, the company specializes in logistics and transport services, particularly in the secure movement of bulk and hazardous materials, which positions it well within a growing sector driven by increasing demand for efficient supply chain solutions. The IPO includes a total issue size of up to 60,24,000 equity shares, indicating a significant capital raise that could enhance the company’s operational capabilities and market reach.
Upcoming IPOs This Week – Conclusion
Quite clearly, this list of upcoming IPOs this week offers a range of investment opportunities across various sectors to prospective 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.
