Top 10 IPOs that will hit the market soon

The Indian stock market is buzzing with activity as several companies are gearing up to launch their initial public offerings (IPOs) in September 2023.

The Indian stock market is buzzing with activity as several companies are gearing up to launch their initial public offerings (IPOs) in September 2023. These IPOs offer investors an opportunity to invest in companies at an early stage and potentially reap the benefits of their growth. Some of the top IPOs to hit the market soon include Ratnaveer Precision Engineering Limited, Rishabh Instruments Limited, Vishnu Prakash R Punglia, Jupiter Life Line Hospitals, and EMS Limited.

1. Ratnaveer Precision Engineering Limited 

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Ratnaveer Precision Engineering Limited’s initial public offering (IPO) has seen robust demand. The IPO was open for subscription from September 4, 2023, until September 6, 2023. The price band for the offer was set at Rs 93-98 per share. The company aimed to raise Rs 165.03 crore from the public issue.

On the final day of subscription, the IPO saw a strong response from all categories of bidders. It was subscribed 94 times on the final day. The quota reserved for non-institutional investors (NIIs) was subscribed 84 times while the one reserved for retail individual investors (RIIs) received 38 times bids.

Ratnaveer Precision Engineering Ltd. is a stainless steel product manufacturer focused on producing finished sheets, washers, solar roofing hooks, pipes and tubes. The company operates four manufacturing units in Gujarat.

2. Rishabh Instruments Limited

Rishabh Instruments Limited is a global energy efficiency solution company that is engaged in the business of manufacturing, design, and development of Test and Measuring Instruments and Industrial Control Products. The company provides cost-effective solutions to measure, control, record, analyze, and optimize energy and processes through an array of products.

Rishabh Instruments Limited recently conducted its initial public offering (IPO) from August 30 to September 1, 2023. The IPO’s price band was set at Rs 418 to Rs 441 per share. The total issue size was Rs 490.78 Cr, which included a fresh issue of equity shares aggregating up to Rs 75.00 Cr and an Offer for Sale (OFS) of up to 9,428,178 equity shares by its promoter group shareholders and an existing investor.

Individuals who have bid for the public offering can check the application status today by following the steps mentioned in the news article. The Rishabh Instruments IPO allotment date is September 6. Refund process starts on September 7 and listing is on September 11.

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3. Vishnu Prakash R Punglia

Vishnu Prakash R Punglia Limited is a company engaged in the business of designing and constructing infrastructure projects for the Central and State Governments, autonomous bodies, and private bodies across 9 States and 1 Union territory in India. The company’s principal business operations are broadly divided into four categories: Water Supply Projects (WSP), Railway Projects, Road Projects, and Irrigation Network Projects.

The company recently conducted its initial public offering (IPO) from August 24 to August 28, 2023. The IPO was a Book Built Issue with a total issue size of Rs 308.88 Cr. The price band for the IPO was set at Rs 94 to Rs 99 per share. The IPO received a super solid response from all categories of investors during the three-day bidding process.

The Vishnu Prakash R Punglia IPO allotment date was August 31, and the listing date was September 5. The estimated listing price was Rs 159. Individuals who have bid for the public offering can check the application status by following the steps mentioned in the news article.

4. Jupiter Life Line Hospitals

Jupiter Life Line Hospitals is a multi-specialty tertiary and quaternary healthcare provider in the Mumbai Metropolitan Area (MMR) and western region of India with a capacity of 1,194 hospital beds. The company is currently developing a multi-specialty hospital in Dombivli, Maharashtra, which is designed to accommodate over 500 beds and has commenced construction in April 2023.

The initial public offering (IPO) of Jupiter Life Line Hospitals opened for subscription on September 6, 2023, and will remain open until September 8, 2023. The IPO price band has been fixed at Rs 695-735 per share. The initial share sale comprises fresh issuance of shares worth Rs 542 crore, and an offer for sale (OFS) worth Rs 327 crore by promoters and existing shareholders. Jupiter Life Line Hospitals shares are set to be listed on stock exchanges BSE and NSE on September 18, 2023.

According to market observers, Jupiter Life Line Hospitals is currently trading Rs 276 higher in the grey market. The Rs 276 grey market premium or GMP is about 37.55 per cent higher than its upper issue price of Rs 735 per share. This means the grey market is expecting a 37.55 per cent listing gain from the public issue.

The proceeds of the fresh issue will be utilized to retire debt. Besides, funds will be used for general corporate purposes. The hospital chain operates in Thane, Pune, and Indore under the “Jupiter” brand with a total bed capacity of 1,194 as of December 2022.

5. EMS Limited

EMS Limited is a company that provides water and wastewater collection, treatment, and disposal services. The company is engaged in the business of providing Sewerage solutions, Water Supply Systems, Water and Waste Treatment Plants, Electrical Transmission and Distribution, Road and Allied works, operation and maintenance of Wastewater Scheme Projects (WWSPs) and Water Supply Scheme Projects (WSSPs) for government authorities/bodies.

The initial public offering (IPO) of EMS Limited is set to open on September 8, 2023, and will close on September 12, 2023. The IPO total issue size is ₹321.24 crores. The price band for the IPO is ₹200 to ₹211 per share. The minimum lot size of this EMS IPO is 70 shares required is ₹14,770.

The IPO comprises a fresh issue of shares worth ₹146.24 crore and an offer for sale (OFS) portion consists of 82,94,118 shares of ₹10, which aggregates to ₹175 crore sold by promoter selling shareholder Ramveer Singh. About 50% of the offer is set aside for qualified institutional buyers, 15% is reserved for non-institutional investors and 35% for retail investors. The IPO will list on BSE and NSE.

6. Kahan Packaging

Kahan Packaging is a company that provides bulk packaging solutions to business-to-business (B2B) manufacturers catering to different industries such as the Agro-Pesticides Industry, Cement Industry, Chemical Industry, Fertilizer Industry, and Food Products Industry. The company manufactures and supplies Polypropylene (PP)/ High-Density Polyethylene (HDPE) Woven Fabric- Laminated, HDPE/PP woven sacks, Woven Fabric- UnLaminated, PP Woven Bag, PP Woven Bag with Liner, Printed Laminates for Flexible Packaging, woven polymer-based products of different weight, sizes and colors as per customer’s specifications.

The initial public offering (IPO) of Kahan Packaging is set to open on September 6, 2023, and will close on September 8, 2023. The IPO total issue size is ₹5.76 crores. The price band for the IPO is ₹80 per share. The minimum lot size of this Kahan Packaging IPO is 1600 shares required is ₹128,000.

The IPO comprises a fresh issue of shares worth ₹5.76 crore. About 50% of the offer is set aside for qualified institutional buyers and 35% for retail investors. The IPO will list on BSE SME.

7. Simpple Limited

Simpple Limited is a company that provides advanced technology solutions in the emerging property-technology space, focused on helping facility owners and managers manage their facilities autonomously. The company has developed a proprietary ecosystem solution that automates workflow and the workforce in areas such as building maintenance, security surveillance, and janitorial services. In addition, the company offers professional services, such as set-up and installation and systems consultation, to its clients.

The initial public offering (IPO) of Simpple Limited is set to open on September 8, 2023. The IPO total issue size is $9.34M. The price band for the IPO is $5.25 to $6.25 per share. The minimum lot size of this Simpple IPO is 1,625,000 shares. The IPO will list on NASDAQ under the ticker SPPL.

8. RoyaLand Company Limited

RoyaLand Company Limited is a Bermuda holding company focused on creating an online and offline immersive, fantasy-based royalty-themed experience called myRoyal.World, primarily centered around a mobile-first massively multiplayer online role-playing game, or MMORPG, called TheRoyal.Land. The company is developing TheRoyal.Land and myRoyal.World in collaboration with its founder, the Monaco-based grandson of the last King of Italy, Emanuele Filiberto di Savoia, who claims the titles of His Royal Highness, Prince of Venice, and Prince of Piedmont and is also referred to in this prospectus as the hereditary “Prince of Italy”.

The initial public offering (IPO) of RoyaLand Company Limited took place on August 17, 2023, on the NASDAQ exchange under the ticker RLND. The company offered shares at an expected price between $4.00 and $6.00 per share with an insider lock-up period of 180 days ending on February 13, 2024.

9. Solowin Holdings Limited

Solowin Holdings Limited is a holding company with no material operations of its own. It conducts its operations primarily through its wholly owned subsidiary, Solomon JFZ, a limited liability corporation incorporated in Hong Kong. Solomon JFZ is one of the few Chinese investor-focused versatile securities brokerage companies in Hong Kong. It offers a wide spectrum of products and services through its advanced and secured one-stop electronic platform.

The initial public offering (IPO) of Solowin Holdings Limited took place on September 7, 2023, on the NASDAQ exchange under the ticker SWIN. The company offered shares at an expected price between $4.00 and $6.00 per share with an insider lock-up period of 180 days ending on March 7, 2024.

EbixCash Limited, a prominent technology provider for both B2C and B2B sectors, operates through a unified business model. The company’s services are divided into four main categories: Payment Solutions, Travel Solutions, Financial Technologies, and Business Processing Outsourcing (BPO). With a strong presence both domestically and internationally, EbixCash Limited is one of India’s largest technology service providers.

The company has plans to secure Rs. 6,000 crores through its Initial Public Offering (IPO), which is expected to be launched in mid-September 2023.