This week, starting 16 December 2024 promises to be a landmark period for the Indian primary market, with eleven IPOs scheduled to open for subscription. This flurry of activity underscores the strong interest in the IPO market, with a total capital raise of approximately INR 5,100 crore expected from these offerings.
This calculation excludes the issue size of Senores Pharmaceuticals. Out of the total amount, INR 5,008.77 crore is anticipated from mainboard IPOs, while INR 71.72 crore is expected from SME IPOs. Among these, Ventive Hospitality stands out as the largest IPO, targeting a massive INR 1,600 crore, whereas NACDAC Infrastructure represents the smallest offering at INR 10.01 crore. With such a diverse lineup of IPOs this week, investors are gearing up for a vibrant market, showcasing opportunities across various sectors.
Table of Contents
Mainboard IPOs This Week
DAM Capital – Biggest Among IPOs This Week
DAM Capital Advisors is an investment firm focused on providing financial services across various sectors including wealth management and investment banking. The firm aims to leverage technology for enhanced client service. They provide services to 263 active clients, including registered Foreign Portfolio Investors (FPIs), across various regions such as India, the USA, the UK, Europe, Hong Kong, Singapore, Australia, Taiwan, South Korea, the Middle East, and South Africa.
- IPO Details: The subscription window will be open from 20 December 2024 to 24 December 2024, with a price band set at INR 269 to INR 283 per share. The shares are expected to be listed on the BSE and NSE on 27 December 2024.
- Financial Performance:Â In FY 2024, DAM Capital reported a revenue increase of approximately 25%, reflecting strong demand for its services compared to FY 2023 figures.
The company achieved a remarkable revenue compound annual growth rate (CAGR) of 38.77% from Fiscal 2022 to Fiscal 2024. In Fiscal 2024, it also recorded the highest profit margin among its peers like ICICI Securities and Motilal Oswal Financial Services.
Transrail Lighting – Second Biggest Among IPOs This Week
Transrail Lighting specializes in engineering, procurement, and construction (EPC) services, primarily focusing on power transmission and distribution. With a robust presence in over 58 countries, including Bangladesh, Kenya, Tanzania, Niger, Nigeria, Mali, Cameroon, Finland, Poland, and Nicaragua, among others, handling turnkey EPC and supply projects. The company has successfully undertaken extensive projects involving 34,654 circuit kilometers of transmission lines.
- IPO Details: Transrail Lighting IPO opens on 19 December 2024 and closes on 23 December 2024, with a price band set at INR 410 to INR 432 per share. The share reservation includes 50% for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors. The company will be listed on NSE and BSE on 27 December 2024.
- Financial Performance: In FY 2024, Transrail’s revenue surged by 30.2% to INR 4,130 crore from INR 3,172.03 crore in FY 2023. Its net profit rose significantly by 116.79% to INR 233.21 crore compared to INR 107.57 crore the previous year.
Mamata Machinery
Mamata Machinery is a key player in the packaging machinery sector, known for its innovative solutions and global reach, exporting machines to over 75 countries. The company primarily sells its packaging machinery to direct consumer brands in the FMCG, food, and beverage industries. Additionally, it sells bag and pouch-making machines to converters and service providers who mainly serve the FMCG and consumer sectors. The company operates manufacturing facilities in India and the USA. As of 16 December 2024, the GMP of the Mamata Machinery IPO is INR 85 per share, making it the most popular among IPOs this week.
- IPO Details: The IPO is set to open on 19 December 2024 and close on 23 December 2024, with a price range of INR 230 to INR 243 per share. It comprises an offer for sale of approximately 0.74 crore shares. Additionally, shares are reserved for employees, who are also being offered a nearly 5% discount. Investors can bid for a minimum lot of 61 shares, which requires a minimum investment of INR 14,823. The listing is expected on 27 December 2024.
- Financial Performance:Â For FY 2024, Mamata Machinery reported a revenue increase of 17.79%, reaching INR 236.31 crore compared to INR 200.87 crore in FY 2023. Additionally, its profit after tax rose by an impressive 36.22%.
Sanathan Textiles
Sanathan Textiles operates in the textile sector, producing a diverse range of polyester and cotton yarns along with technical textiles. By 30 June 2024, Sanathan Textiles will offer more than 2,800 active yarn product varieties and over 30,000 stock-keeping units (SKUs). Their production capacity allows for a broad portfolio of over 14,000 yarn varieties and over 1,90,000 SKUs tailored for various end uses. The company boasts a total installed capacity of 2,23,750 metric tons per annum (MTPA) across three distinct yarn verticals.
- IPO Details: The IPO is set to take place from 19 to 23 December 2024, with shares scheduled to debut on 27 December 2024. The public issue comprises an Offer for Sale (OFS) of INR 150 crore and a Fresh Issue totaling INR 400 crore. The minimum bid size is 46 shares, priced at INR 14,766. Retail investors will be allocated 35% of the shares. The IPO will be listed on both the BSE and NSE.
- Financial Performance: Sanathan Textiles has experienced a notable decline in its financial performance from FY 2023 to FY 2024. In FY 2024, Sanathan Textiles reported a revenue of INR 2,957.50 crores, a decline of approximately 11.1% from INR 3,329.21 crores in FY 2023. The company’s net profit also decreased to INR 133.85 crores, down by about 12.4% from INR 152.74 crores the previous year.
Concord Enviro Systems –
Concord Enviro Systems is a leading global provider of water and wastewater treatment and reuse solutions, including zero liquid discharge (ZLD) technology, based on revenue as of 31 March 2024. Concord Enviro Systems also delivers turnkey solutions, offering customized designs for systems and plants such as effluent treatment plants, anaerobic digestors, membrane bioreactors, sewage treatment plants, and membrane-based systems like ultrafiltration (UF), nanofiltration (NF), reverse osmosis (RO), desalination systems, and waste heat evaporators (WHE). The company operates in two countries with two manufacturing facilities—one in Vasai, Maharashtra, India, and the other in Sharjah, UAE.
- IPO Details: The IPO is scheduled for 19 to 23 December 2024, and shares are scheduled to make a debut on 27 December 2024. The public issue consists of an Offer for Sale (OFS) of 46,40,888 shares and a Fresh Issue amounting to INR 175 crore. The minimum bid size is 21 shares, priced at INR 14,721, and retail investors will be allotted 35% of the shares.
- Financial Performance:Â For FY 2024, Concord Enviro reported significant growth with revenues increasing by approximately 40% compared to FY 2023 figures.
Ventive Hospitality
Ventive Hospitality operates within the hospitality sector, offering premium services across hotels and resorts globally. The company is known for its customer-centric approach and luxurious accommodations. As of 30 September 2024, Ventive Hospitality’s portfolio includes 11 operational hospitality assets in India and the Maldives, comprising a total of 2,036 keys across the luxury, upper upscale, and upscale segments.
- IPO Details: Ventive Hospitality is set to launch its Initial Public Offering (IPO) on 20 December 2024, and it will close on 24 December 2024. The IPO aims to raise approximately INR 1,600 crores through a fresh issue of equity shares, with a face value of INR 1 per share. The listing is expected on 30 December 2024.
Unimech Aerospace
Unimech Aerospace focuses on manufacturing components for the aerospace sector, emphasizing precision engineering and high-quality standards essential for aviation applications. Between Fiscal Years 2022 and 2024, Unimech Aerospace produced 2,356 SKUs in the tooling and precision complex sub-assemblies category and 624 SKUs in the precision machined parts category, serving over 26 customers across 7 countries.
- IPO Details: Unimech Aerospace is preparing for its Initial Public Offering (IPO), scheduled to take place from 23 to 26 December 2024. The IPO aims to raise a total of INR 500 crore, which includes a fresh issue of INR 250 crore and an Offer for Sale (OFS) of INR 250 crore by existing shareholders. The company’s shares will have a face value of INR 5 each, with 35% of the offering reserved for retail investors.
- Financial Performance: Unimech Aerospace has demonstrated substantial financial growth in FY 2024, with revenue increasing to INR 208.78 crore, a remarkable rise from INR 94.17 crore in FY 2023, representing a growth of approximately 121.5% year-over-year. The company’s net income also saw a significant boost, climbing to INR 58.13 crore from INR 22.81 crore, which translates to an increase of about 154%.
Senores Pharmaceuticals
Senores Pharmaceuticals specializes in developing generic pharmaceuticals across various therapeutic segments. The company prioritizes research-driven product development aimed at enhancing healthcare access. Senores Pharmaceuticals primarily focuses on the regulated markets of the US and Canada while maintaining a presence in emerging markets across 43 countries, and has obtained product registrations for 182 products and has filed registrations for an additional 245 products. The company also manufactures critical care injectables and active pharmaceutical ingredients (APIs).
- IPO Details: The subscription period will be open from 20 to 24 December 2024, with shares anticipated to be listed on the BSE and NSE on 30 December 2024.
- Financial Performance: In FY 2024, Senores Pharmaceuticals reported significant financial growth compared to FY 2023. The company’s revenue surged to INR 214.52 crores, marking an impressive increase of 508% from INR 35.34 crores in FY 2023. Consequently, net income for FY 2024 reached INR 32.71 crores, which is a substantial growth of 287% compared to INR 8.43 crores in FY 2023.Â
SME IPOs This Week
NACDAC Infrastructure – Smallest Among SME IPOs This Week
NACDAC Infrastructure provides comprehensive infrastructure solutions focusing on construction and project management services across sectors including transportation and urban development. As of 31 October 2024, the company has completed 63 projects, with a cumulative value of approximately INR 96.75 crore. As of the same date, NACDAC Infrastructure has been appointed as a civil sub-contractor by Larsen & Toubro for their Delhi Airport project. The total contract value for this project stands at INR 9.19 crore.
IPO Details: NACDAC Infrastructure is launching its Initial Public Offering (IPO) from 17 to 19 December 2024. The company aims to raise approximately INR 10.01 crores through a fresh issue of 2.86 million shares, with a price band set between INR 33 and INR 35 per share. Investors are required to bid for a minimum of 4,000 shares, amounting to an investment of INR 1,40,000 for retail buyers.
The allotment status will be finalized on 20 December, with refunds processed by 23 December, and the shares are expected to be listed on the BSE SME platform on 24 December 2024. As of 16 December 2024, the GMP of the NACDAC Infrastructure IPO is INR 30 per share, making it the most popular among IPOs this week.
Identical Brains Studios – Entertainment Sector Among IPOs This Week
Identical Brain Studios specializes in digital content creation including animation and visual effects for media industries globally. Known for innovative storytelling techniques, they cater to various entertainment sectors. Identical Brains Studios has received approvals for future projects from Disney Hotstar and Amazon. For the fiscal year ending 31 March 2024, the company completed two large projects worth INR 20 crore, six medium-sized projects, and 36 smaller projects totaling INR 2 crore.
IPO Details: Identical Brains Studios is set to launch its IPO on 18 December 2024, with the subscription period concluding on 20 December 2024. The price band for the IPO has been fixed at INR 51 to INR 54 per share, aiming to raise approximately INR 19.95 crores. The IPO will consist of a fresh issue of around 3.69 million equity shares. The company plans to list on the NSE Emerge platform, with the listing date anticipated for 26 December 2024.
New Malayalam Steel
In 2018, NewMalayalam Steel expanded its operations by setting up an additional electric resistance welding (ERW) tube mill with a production capacity of 3,500 MT at its manufacturing facility in Thrissur, Kerala. This strategic move enabled the company to start producing galvanized pipes, tubes, and sheets, which have become staples in Kerala households. These galvanized products serve a crucial role in roofing, offering benefits like heat reduction and leak prevention.
In 2019, to meet the growing demand and strengthen its market presence, the company expanded its manufacturing capacity by adding another electric resistance welding (ERW) tube mill with an installed capacity of 4,000 MT at its production facility. As of 30 September 2024, the company had 140 full-time employees. New Malayalam Steel implements a comprehensive marketing and branding strategy for its products.
IPO Details: Another offer announced recently for this week is New Malayalam Stee. The IPO plans to raise INR 41.76 crore by issuing 46,40,000 shares in the price range of INR 85 – 90 per share. The IPO opens on 19 December 2024 and listing is expected by 27 December 2024.
Summary of Upcoming IPOs This Week
The upcoming IPOs this week promise an exciting lineup of IPOs that cater to diverse sectors within the Indian economy. With significant capital at stake, investors are keenly watching these offerings, especially the larger players like Ventive Hospitality and DAM Capital. The anticipated activity highlights a vibrant primary market as we approach the end of the year.
This week, twelve listings are expected in the primary market, including five mainboard IPOs and seven SME IPOs. In conclusion, as we look forward to these developments in the primary market, keep an eye out for updates regarding these upcoming IPOs this week.
As of November 2024, the Indian primary market has seen a total of 76 Mainboard IPOs and 230 SME IPOs. Out of this, 58 Mainboard listings have achieved positive performance, while 207 SME listings have also performed well. However, there were challenges as well, with 18 Mainboard IPOs and 23 SME IPOs experiencing negative returns. Notably, the average listing day return stands at an impressive 27.47% for Mainboard IPOs and a remarkable 59.81% for SME IPOs, underscoring the potential for significant gains in this dynamic market. For more information related to IPO GMP, SEBI IPO Approval, Live Subscription, stay tuned to IPO Central.
