In the CY 2024, things got busy in India’s primary market with as many as 36 listings so far in the year (here is a list of IPOs in 2024). Out of these, we had 27 positive listings while 9 IPOs debuted with losses. Nevertheless, average listing day gains in these 36 IPOs stood at 28.09%. Given the gains in these IPOs despite jittery market conditions, investors have ample reasons to look forward to upcoming IPOs in July 2024. Here is a list of IPOs expected in July 2024.
#1 Emcure Pharma – Among the Most Anticipated Upcoming IPOs in July 2024
Emcure Pharma is among the first in line for upcoming IPOs in July 2024. Emcure Pharma IPO is scheduled for 3 to 5 July 2024, with a price range of INR 960 to 1,008 per share. The public issue consists of an Offer for Sale (OFS) of 1,14,28,839 shares and a Fresh Issue amounting to INR 800 crores. The minimum bid size is 14 shares, priced at INR 14,112, and retail investors are allotted 35% of the shares. The IPO will be listed on both BSE and NSE.
Emcure stands out as a robust investment opportunity due to its extensive footprint in over 100 countries and its diverse portfolio of generic and branded pharmaceutical products. With 13 manufacturing facilities across India, the company has seen significant sales growth, with Indian sales contributing 48.28% of its total revenue for FY 2024. One of the highlights in Emcure IPO is the presence of Namita Thapar among company promoters. Namita gained widespread recognition as a celebrity investor following her appearance in Shark Tank India.
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#2 Bansal Wire – To Raise INR 745 crore
Bansal Wire Industries is set to launch its IPO from July 3 to July 5, 2024, with a price range of INR 243 to INR 256 per share. Bansal Wire IPO is entirely a Fresh Issue, consisting of 29,101,562 shares, valued between INR 707.17 – 745 crore. The minimum bid size is 58 shares, priced at INR 14,848, and 35% of the shares are reserved for retail investors. The IPO will be listed on both the BSE and NSE.
Bansal Wire Industries’ upcoming IPO presents an attractive investment opportunity for investors. The company is the largest stainless-steel wire manufacturer and the second largest steel wire manufacturer by volume in India, with a significant market share of 20% and 4% respectively. This dominant market position, coupled with its diversified product portfolio catering to a wide range of industries, makes Bansal Wire a compelling investment proposition.
The IPO proceeds will be utilized to repay debt, fund working capital, and support general corporate purposes, strengthening the company’s financial position and positioning it for long-term success.
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#3 Asirvad Micro Finance – Leading Name Among the Upcoming IPO in July 2024
As a subsidiary of Manappuram Finance, Asirvad Micro Finance IPO is set to attract significant interest. Established in 2008, the company expanded its branch presence to over 1,684 with active borrower customers spread across 22 states and 4 Union Territories, serving 3.25 million active borrowers. The company said that it is looking to enhance its capital base for the prospective business expansion through this IPO.
Asirvad’s established presence and extensive reach in the microfinance sector, along with its growth potential, make it an attractive investment option. Investors may also get an opportunity to double their allotment chances by taking advantage of shareholder reservation.
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#4 CJ Darcl Logistics – Logistics IPO in July 2024
CJ Darcl Logistics IPO has been doing the rounds as one of the largest and most attractive Indian logistics companies. Dominant in the full truckload category, the company offers a broad portfolio of transportation services. Positioned well for growth given 36 years of industry experience and presence in more than 5,249 locations.
The proceeds of the IPO will be utilized towards debt repayment, capital expenditure, and general corporate purposes. With the company’s focus on technology-driven service enhancements and market intelligence, it looks like a good value investment in this transforming logistics backdrop.
Financial Performance — CJ Darcl Logistics has done well for itself with revenues more than tripling over three years. The same trend is seen in profitability, which was up from INR 31.75 crore in FY 2021 to INR 67.70 crore in FY 2023.
#5 Arkade Developers
Next in line for upcoming IPOs is Arkade Developers. Arkade Developers, a leading real estate developer in the Mumbai Metropolitan Region (MMR), is preparing for its IPO. The company has a proven track record of delivering premium residential projects, with over 1,000 residential units launched and 792 units sold between 2017 and Q1 FY 2023. Currently, Arkade Developers is developing approximately 2 million square feet across five ongoing projects and two upcoming projects.
Moreover, the MMR region, which contributes the highest share of annual sales of residential units across the top seven cities in India, presents a favorable market backdrop for Arkade Developers’ expansion. With the net proceeds from the IPO earmarked for funding the development of ongoing projects and acquiring new land parcels, the offering provides investors an opportunity to participate in a growing industry which is red hot at the moment.
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#6 OLA Electric – India’s Largest Electric Scooter Maker
Ola Electric’s upcoming IPO presents an exciting opportunity for investors to participate in the growth of India’s electric vehicle (EV) market. As the country’s largest electric scooter maker, Ola Electric has been at the forefront of the EV revolution, with its sales data showcasing the rapid adoption of EVs in India.
EV stocks have performed exceptionally well in India and have rewarded early investors handsomely. Once listed, Ola Electric is likely to be a major beneficiary of this trend. With the IPO proceeds set to be used for capacity expansion, research and development, and debt repayment, investors can look forward to the company’s continued innovation and market dominance in the rapidly evolving EV space.
#7 Denta Water & Infra Solutions – Another IPO in July 2024
Another interesting name among forthcoming IPOs in July includes Denta Water & Infra Solutions. Denta Water & Infra Solutions is preparing for its IPO, presenting a promising investment opportunity. The company has a solid track record as a leading provider of water engineering, procurement, and construction services, executing critical infrastructure projects like groundwater recharging and drinking water supply.
The Indian water and wastewater treatment market is expected to grow at a CAGR of 6.08% from FY 2023 to FY 2030, according to market estimates. Denta Water is well-positioned to benefit from this expansion. The company’s involvement in government initiatives like the Jal Jeevan Mission further enhances its growth prospects.
Upcoming IPOs in July 2024– Expect More Companies to Join
While we have tried to include all the possible names in this list, we do expect some new names to spring a surprise and join this list of upcoming IPOs in July 2024. Some of the companies including Onest Ltd, FirstCry, and Indo Farm are looking at tapping the primary markets again. We have included these names in our IPO pipeline.
