Upcoming IPO In January 2024
Upcoming IPO In January 2024: After an eventful week featuring seven Initial Public Offerings (IPOs), India’s primary markets are gearing up for another busy week with six new IPOs, including one mainboard IPO and five Small-Medium Enterprises (SME) offerings.
Nova Agritech IPO: Nova Agritech’s Rs 143 Crore IPO Takes Center Stage
The list of upcoming IPOs for this week is headlined by Nova Agritech, a prominent agritech giant. Other companies set to hit the market include Fonebox Retail, DelaPlex Limited, Megatherm Induction, Harshdeep Hortico, and Brisk Technovision.
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Upcoming IPO In January 2024: Nova Agritech’s IPO, open for subscription from January 23-25, is closely watched by market investors. Priced in the range of Rs 39-41, investors have the option to avail shares in multiples of 365. The IPO comprises a fresh equity issue of 2.73 crores worth Rs 112 crores and an Offer on Sale (OFS) of 77.5 lakh shares worth Rs 31.81 crores. Nova Agritech specializes in soil health management, crop nutrition, and rotation services. In FY23, the company reported a 13% increase in operating revenue to Rs 213 crores, with a 50% jump in Profit After Tax (PAT) to Rs 20.48 crores. The company plans to utilize the funds for expansion in its subsidiaries.
Last Week’s Highlights and Future Projections: Medi Assist Healthcare and Epack Durables
Last week featured notable IPOs from pharma giants like Medi Assist Healthcare and Epack Durables. Medi Assist, set to debut on both BSE and NSE indexes on January 23, received subscriptions 16 times the offered shares. Epack Durables’ IPO, which commenced on January 19, 2024, will close on January 24.
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Upcoming IPO In January 2024: India has witnessed a surge in IPO launches, with the calendar year 2023 seeing the fourth-highest listing globally—56 mainboards and 176 SME IPOs. Additionally, there are reports suggesting that social media giant Reddit may launch its IPO in March 2024, potentially becoming the biggest social media company since Pinterest’s debut in 2019.
Medi Assist Healthcare IPO: A Premium Debut Expected
Analysts predict that Medi Assist Healthcare’s stock may debut at a 5-12% premium over the IPO price on January 23, opening between Rs 440-470 against the issue price of Rs 418. The strong response from investors is attributed to the company’s marquee anchor investors, dominance in the third-party administrator (TPA) market, and solid financial performance. Medi Assist acts as a mediator between insurance companies, insured members, healthcare providers, and the government. The IPO, which closed on January 17, raised Rs 1,171.58 crores.
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Overview of Upcoming IPOs This Week In January 2024
Nova Agritech IPO
- Opening: January 23
- Closing: January 25
- Price Band: Rs 39-41 per share
- Fresh Issue: Rs 112 crores
- Offer for Sale: Rs 31.81 crores
Brisk Technovision IPO
- Opening: January 23
- Closing: January 25
- Issue Size: Rs 12.48 crores
- Type: Offer for Sale (OFS)
- Price: Rs 156 per share
Fonebox Retail IPO
- Opening: January 25
- Closing: January 30
- Issue Size: Rs 20.37 crores
- Type: Fresh Issue
- Price Band: Rs 66-70 per share
DelaPlex IPO
- Opening: January 25
- Closing: January 30
- Price Band: Rs 186-192 per share
- Issue Size: Rs 46.08 crores
- Fresh Issue: 18 lakh shares
- OFS: 6 lakh shares
Megatherm Induction IPO
- Opening: January 25
- Closing: January 30
- Price Band: Rs 100-108 per share
- Issue Size: Rs 53.91 crores
- Fresh Issue: 49.92 lakh shares
Harshdeep Hortico IPO
- Opening: January 25
- Closing: January 30
- Issue Size: Rs 19.09 crores
- Type: Fresh Issue
- Price Band: Rs 42-45 per share
Docmode Health Technologies IPO
- Opening: January 25
- Closing: January 30
- Issue Size: Rs 6.71 crores
- Type: Fresh Issue
- Price: Rs 79 per share
Mainboard and SME Segment Updates
Epack Durable’s Rs 640-crore IPO on the mainboard segment will close on January 24. In the SME segment, Qualitek Labs IPO will close on January 23, while Euphoria Infotech India, Konstelec Engineers, and Addictive Learning Technology IPOs will conclude on January 24.
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