Upcoming IPOs in June 2024

Indian shares opened lower on Wednesday, with significant declines in major financial and IT stocks. Concerns over upcoming domestic election results and the timing of U.S. interest rate cuts added to market pressures. At the closing trade, the Nifty 50 was down 0.8% at 22,704.70 points, and the S&P BSE Sensex fell 0.89% to 74,502.90 points.

Against this backdrop, several companies are set to launch their initial public offerings (IPOs) in June 2024, providing new opportunities for investors. If you are looking for a List of Upcoming IPOs to invest in, here are the ones that have disclosed their required IPO details.

Following table will give you a quick view of upcoming IPOs in June 2024:

Mainboard IPOs

Kronox Lab Sciences Ltd

Kronox Lab Sciences Ltd, established in 2008, produces high-purity specialty chemicals for various industries, including pharmaceuticals, biotech, and personal care. The company offers over 185 products such as phosphates, nitrates, and EDTA derivatives, serving customers in India and more than 20 other countries, including the US, UK, and China.

The Kronox Lab IPO will be open from June 3, 2024 and closes on June 5, 2024, with a price range of Rs 129 to Rs 136 per share and a lot size of 110 shares. The total IPO size, which includes both a fresh issue and an Offer for Sale, is up to Rs 130.15 crore. Kronox Lab Sciences is scheduled to be listed on the stock exchange on Monday, June 10, 2024. The Grey Market Premium (GMP) is currently unknown.

For the period ending 31st December 2023, the company’s revenue was Rs 67.69 crore, down from Rs 74.10 crore for the same period in 2022, marking an 8.6% year-on-year decline. The profit after tax was Rs 15.47 crore in December 2023 compared to Rs 14.09 crore in December 2022.

The company will not receive any proceeds from the offer. The objective of the IPO is to achieve the benefits of listing its equity shares on the stock exchanges, which is expected to enhance its visibility and brand image, and provide liquidity to existing shareholders. The Promoter Selling Shareholders will receive all the proceeds from the Offer after deducting the Offer expenses and relevant taxes.

Le Travenues Technology Ltd (Ixigo)

Le Travenues Technology Ltd, established in 2006, operates as an online travel agency (OTA) under the “ixigo” brand, allowing users to book train, flight, and bus tickets, as well as hotels. Its services include PNR status predictions, train seat availability alerts, real-time updates on train and flight statuses, automated web check-in, and AI-based travel planning. The company’s OTA platforms include ixigo Trains and Confirmtkt app, ixigo Flights mobile app and Abhibus app.

The Ixigo IPO will open on 10 June 2024 and close on 12 June 2024, priced between Rs 88 and Rs 93 per share, with a lot size of 161 shares. The total IPO size is Rs 740.15 crore. The Grey Market Premium (GMP) is currently unknown.

Proceeds from the IPO will fund working capital, cloud infrastructure investments, and strategic acquisitions.

For the period ending 31 December 2023, ixigo reported revenue of Rs 491 crore, up from Rs 362.3 crore same period previous year and a profit after tax of Rs 65.7 crore, up from Rs 18.6 crore.

SME IPOs

Sattrix Information Security Ltd

Established in 2013, Sattrix Information Security Ltd specialises in tailoring cybersecurity solutions for its clients, focusing on both cloud-based and on-premise systems. Its services include comprehensive assessment services, IT infrastructure management, hybrid IT solutions, and managed security services covering various aspects such as vulnerability management and incident response.

Sattrix Information Security Ltd is set to launch its IPO from June 5, 2024, to June 7, 2024, offering shares priced at Rs 121 each, with an issue size of Rs 21.78 crore. The specific Grey Market Premium (GMP) remains undisclosed.

The company intends to utilise the net proceeds from the IPO for various purposes, including capital expenditure for a new office in Ahmedabad and acquiring IT equipment, servers, and networking infrastructure. Additionally, funds will support business expansion efforts, addressing working capital needs, and covering general corporate expenses.

The company posted a decline in revenue by 63% to Rs 1.89 crore and a negative profit after tax (PAT) of Rs 0.19 crore for the period ending December 31, 2023, compared to the previous fiscal year.

Magenta Lifecare Ltd

Magenta Lifecare Ltd is engaged in the manufacturing of mattresses and pillows, marketing its foam-based products under the brand “Magenta” across India. The company’s diverse product range includes memory foam, latex-based, bonded mattresses, pocketed springs, as well as various types of pillows such as memory foam pillows, moulded memory foam pillows, and moulded contour foam pillows.

The IPO for Magenta Lifecare Ltd is scheduled to open on June 5, 2024, and close on June 7, 2024, with each share priced at Rs 35 and a lot size of 4,000 shares, totalling a Rs 7 crore issue size. The specific Grey Market Premium (GMP) remains undisclosed.

The company plans to utilise the net proceeds from the IPO for various purposes, including funding working capital requirements and general corporate purposes.

In the period ending December 31, 2023, Magenta Lifecare Ltd reported revenue of Rs 6 crore, down from Rs 9.06 crore for the year ended March 31, 2023. Similarly, the profit after tax (PAT) increased to Rs 0.66 crore compared to Rs 0.32 crore for the same periods.

3C IT Solutions & Telecoms (India) Ltd

Founded in 2015, 3C IT Solutions & Telecoms (India) Ltd operates as an IT systems integration firm, offering a range of IT products and services categorised into three segments: Infrastructure solutions, Digital business solutions, and Consulting solutions, tailored to meet client requirements.

Under Infrastructure solutions, the company provides services such as End User and Devices, Device Configuration, Data Protection, Computer Accessories, Networking Solutions, IT Security Solutions, and Audio Video Solutions. Digital business solutions encompass MDM- Mobile Device Management, Project Management Tools, Collaboration Software, Video Conferencing Tools, Sales Enablement Software, Cloud Implementation Services, and more. Consulting solutions include Facility Management System (FMS) Solutions, IT Infrastructure Renting Solutions, remote infrastructure management solutions, Multibrand Hardware Break-Fix Service, and more.

The IPO is scheduled to open on June 4, 2024, and close on June 7, 2024, with a price of Rs 52 per share and a lot size of 2,000 shares, totalling an issue size of Rs 11.44 crore.

The company plans to utilise the net proceeds from the IPO to fund working capital requirements, repay/prepay certain borrowings, and for general corporate purposes.

In the period ending December 31, 2023, 3C IT Solutions & Telecoms reported revenue of Rs 23.18 crore, down from Rs 62 crore for the year ended March 31, 2023. Similarly, the profit after tax (PAT) decreased to Rs 5.05 crore compared to Rs 11.36 crore for the same periods.

TBI Corn Ltd

TBI Corn Ltd, based in the Sangli district of Maharashtra, India, is a manufacturer and exporter of Corn Meal Grits. The company, certified with ISO standards, specializes in producing high-quality corn/maize grits and related products. Its product range includes fat-free corn grits/meals, corn flakes, stone-free broken maize, corn flour, and turmeric fingers.

The opens on May 31, 2024, and closes on June 4, 2024, with a price band of Rs 90 to Rs 94 and a lot size of 1,200 shares, totalling a Rs 44.94 crore issue size. The Grey Market Premium (GMP) is currently unknown.

The company plans to utilise the net proceeds from the issue for various purposes, including expanding its existing unit, meeting incremental working capital requirements, and general corporate purposes.

In the period ending December 31, 2023, TBI Corn Ltd experienced significant growth. Its revenue surged by 324% to reach Rs 101.04 crore compared to the same period the previous year. Similarly, the profit after tax (PAT) saw an impressive increase of 1463% to Rs 7.66 crore compared to the same period the previous year.

Aimtron Electricals Ltd

Founded in April 2011, Aimtron Electricals Lts specialises in electronics system design and manufacturing (ESDM), focusing on high-value precision engineering products. They offer PCB design, assembly, and complete electronic system manufacturing for customers in India, the USA, Hong Kong, the UK, Spain, and Mexico. Their services include printed circuit board assembly (PCBA), box build assemblies, and battery management systems for electric vehicles.

This Upcoming SME IPO listing is scheduled from May 30 to June 3, 2024, with a price band of Rs 153 to Rs 161 per share. The lot size is 800 shares, and the total issue size is 5,404,800 shares, aggregating up to Rs 87.02 crore. The listing date is set for Friday, June 6, 2024. The Grey Market Premium (GMP) is Rs 50 per share. Please remember that it is just an estimation and there is no guaranteed listing price.

For the period ending 31st December 2023, with Q4 still remaining, the company’s revenue was Rs 67.07 crore, whereas for year ended March 31, 2023, the revenue was Rs 71.58 crores. The profit after tax was Rs 12.93 crore in December 2023 compared to Rs 11.74 crore in FY23

The net proceeds from the issue will be utilised for repayment, in full or in part, of certain outstanding borrowings; funding capital expenditure for the installation of additional plant and machinery; meeting working capital requirements; and general corporate purposes.

Associated Coaters Ltd

Associated Coaters Ltd specialises in the pre-treatment and powder coating of aluminium extrusions for the architectural and real estate industries. With an annual capacity of 1,200 metric tons, the company operates two manual powder coating plants and one fully automatic powder coating plant, established in July 2017, making it a key player in eastern India.

The IPO price is set at Rs 121 per share, with a lot size of 1,000 shares and a total issue size of 4,22,000 shares, aggregating up to Rs 5.11 crore. The IPO opens on May 30, 2024, and closes on June 3, 2024. The Grey Market Premium (GMP) is Rs 50 per share.

The company intends to use the net proceeds from the fresh issue to fund capital expenditure, meet working capital requirements, and cover general corporate purposes.

Additionally, the company aims to strengthen its capital base and expects to benefit from the listing of its equity shares on the stock exchanges. This listing will enhance the visibility of the company’s brand and its presence among existing and potential customers.

The company has already surpassed its FY23 revenue of Rs 3.58 crore, reaching Rs 3.97 crore for the period ending 31st December 2023. Similarly, the profit after tax for FY23 was Rs 5.43 crore, while for the period up to Q3 FY24, the PAT has risen by Rs 2.15 crore to Rs 7.58 crore.

Stay ahead with the latest on Upcoming IPOs! Discover promising opportunities and get ready to invest.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.