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In May 2024, Indegene, TBO Tek, Aadhar Housing Finance, Refractory Shapes, Winsol Engineers, and Finelistings Technologies will launch initial public offerings (IPOs), providing a varied range of investment opportunities.
In May 2024, significant companies such as Indegene, TBO Tek, and Aadhar Housing Finance, as well as four SMEs, will launch their Initial Public Offerings. This is a vibrant era for the primary market, with chances for both commercial fundraising and public investment.
Despite stock market instability, India’s Initial Public Offering landscape has remained lively. In 2024, 24 firms raised over ₹18,000 crore in IPOs. Furthermore, the SME sector had 77 Initial Public Offerings last month, indicating continued strong investor interest and market dynamics.
Here’s a list of forthcoming IPOs for May:
Indegene Limited
Carlyle-supported Indegene, a health IT business, plans to raise ₹1,841.76 crore through its initial public offering on May 6. This includes a fresh issue of 1.68 crore shares worth ₹760 crore and an offer to sell 2.39 crore shares worth ₹1,081.76 crore. The IPO, priced between ₹430 and ₹452 per share, will begin on May 6 and end on May 8, with scheduled listing on the BSE and NSE on May 13. The book runners are Kotak Mahindra Capital, Citigroup, JP Morgan, and Nomura, with Link Intime serving as the registrar.
TBO Tek
TBO Tek, an online travel platform sponsored by General Atlantic, is planning an IPO from May 8 to May 10, with allotments on May 13 and a May 15 listing. The anchor book will debut on May 7. The IPO includes a fresh offering of ₹400 crore and an OFS of 1.25 crore shares. Axis Capital and Goldman Sachs are the lead managers, while Kfin Technologies serves as the registrar.
Aadhar Housing Finance
Aadhar Housing Finance, backed by Blackstone, will launch a ₹3,000-crore IPO on May 8 and close on May 10. Anchor investors will bid on May 7. BCP Topco VII Pte Ltd, a Blackstone affiliate, is launching a ₹1,000 crore IPO and a ₹2,000 crore OFS. BCP Topco owns 98.72% of Aadhar, with ICICI Bank holding 1.18%.
Refractory Shapes
Refractory Shapes is conducting an IPO on May 6 and closing on May 9, with allotment scheduled for May 10 and listing on the NSE SME on May 14th. The ₹18.60 crore IPO includes a fresh offering of 60 lakh shares priced between ₹27 and ₹31 per share.
Winsol Engineers
The Winsol Engineers IPO valued ₹23.36 crore includes 31.15 lakh new equity shares. Bidding begins on May 6 and ends on May 9. The price range is ₹71 to ₹75 per share, with a minimum lot size of 1,600 shares. Allotment is planned on May 10, followed by a listing on the NSE SME on May 14. The IPO is managed by Beeline Capital Advisors, with Kfin Technologies serving as the registrar.
Finelistings Technologies
Finelistings Technologies plans to conduct its SME IPO on May 7 and close on May 9. This fixed price issue, valued at ₹13.53 crore, includes a new issuance of 11 lakh shares priced at ₹123 apiece. The IPO lot size is 1000 shares. Fedex Securities is the main manager, while Skyline Financial Services handles the registration.
