After a lull of nearly 2 months, the IPO market is back with a bang. With two IPOs in August, India’s primary market is looking positive for more listings. The list of upcoming IPOs in September is surely an eclectic mix of companies and businesses. Read on for more.
#1 Tamilnad Mercantile Bank (TMB) – First among upcoming IPOs in September
The first IPO to hit the market is Tamilnad Mercantile Bank (TMB) which is already confirmed to open on 5 September. The South-based bank has a long history that dates back over 100 years. It operates a network of 509 branches, of which 106 branches are in rural, 247 in semi-urban, 80 in urban and 76 in metropolitan centers. Its overall customer base is approximately 4.93 million and almost 70% of its customers have been associated with it for a period of more than five years.
Anyone interested in taking an exposure to the banking industry should take a look at this bank purely from an operational perspective as it claims to own a relatively clean balance sheet with low NPAs.
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#2 Harsha Engineers
Another interesting name among upcoming IPOs in September is Harsha Engineers. Harsha Engineers is the largest manufacturer of precision bearing cages in organized sector in India in terms of capacity and operations and has a global market share of approximately 5-6% in the organized segment of the global brass, steel and polyamide bearing cages market in terms of revenue. The company is yet to reveal its pricing from the public offer but its financial performance has been quite impressive in the recent years making it an interesting IPO bet for investors.
#3 OYO Rooms
OYO Rooms is another company that investors may find in upcoming IPOs in September. The heavily-funded startup may test the primary markets even though startups listed last year didn’t do very well post listing. This list includes the likes of Paytm, Policybazaar, Zomato and CarTrade Tech. Nevertheless, OYO appears to be confident of scoring against the odds and raising enough demand for its public offer. Recent reports suggest that a lower valuation is pretty much on cards and the company’s brand name resonating with common investors may turn out to be an asset.
#4 Le Travenues Technology (Ixigo)
Another startup Le Travenues Technology (Ixigo) is in the offing to launch its public offer in September. The company has recently filed an addendum for its upcoming IPO. The offer is to be managed by ICICI Securities and according to the corrigendum, the company has swung to profits in the latest quarter ended June 30, 2022. This might be a big differentiator and may work in favor of Ixigo as public market investors look for profitability over top line growth.
#5 Navi Technologies
Sachin Bansal-backed Navi Technologies they’re also looking to raise public funds and it may be a worthy addition to the forthcoming IPOs in the month of September 2022. Thanks to the company’s singular focus on scale and profitability, the offer is among the most anticipated IPOs in 2022. Navi Technologies has posted very impressive financial performance in recent years and for this simple reason, there is likely to be a lot of excitement among investors. IPO Central finds it incredible that the company has raised no external equity funding so far and there are no plans to raise money through the ubiquitous Offer For Sale (OFS) route.
Apart from these IPOs, there is a long list of companies which have received approval from the market regulator to bring their public offers. As market sentiments continue to improve, this list of upcoming IPOs in September is likely to get updated with some new additions. As always, IPO Central will continue to bring the latest updates to its readers so keep watching this space and keep sharing your valuable feedback to us through comments.
