Upcoming IPOs in April 2022

2021 has been a year to remember for India’s share market. A record number of companies went public, 63 to be precise, generating a total of Rs. 1.18 lakh crores in due course. Looking at this phenomenon, experts’ prediction for this calendar year, i.e., 2022, is not very far off from this metric. The basis of such a bold claim is that various companies have already filed their DRHPs, and they are in queue to go public throughout this year.

Even though the first three months of this year, i.e., January, February and March, has been slow, it is no indication of what is to come. April is likely to bring a new pace to the proceedings. As the new financial year begins, it will surely bring new-found enthusiasm to the companies to enlist their name on Dalal Street.

This write-up sheds light on the public issues that are touted to go live in April 2022.

Upcoming IPOs in April 2022

 

• LIC India Ltd.

The biggest and most highly-anticipated IPOs of the Indian share market in recent history is yet to be live for a subscription. The details of this public issue like price band and face value were made public, and a tentative market debut in the 2nd week of March was also fixed. Moreover, there were speculations that it would go live on 10 March 2022.

However, nothing has been materialised yet. LIC IPO comes as a part of the Indian Government’s disinvestment plan, and it is likely to raise in between Rs. 70,000 and Rs. 75,000 crores.

LIC, being India’s largest insurance company, enjoys a market share of around 69%. It has a total fund base of about Rs. 290 crores.

• OYO Hotels and Homes

One of India’s premier hospitality start-ups, OYO Hotels and Homes, submitted its DRHP papers with SEBI last year. However, back-to-back legal issues and regulatory troubles kept this IPO shelved, and it is yet to see the light of Dalal Street.

Nonetheless, the company recently announced that it had cleared such issues. It is planning to initiate its public offer, with which OYO plans to raise around Rs. 8,430 crores. Under this, Rs. 7,000 crores will be from freshly issued shares, and the rest is through via OFS.

• Delhivery

One of India’s leading logistics firms, Delhivery, is also planning to launch its IPO of Rs. 7,460 crores. This initial public offering will comprise a fresh issue of equity shares of Rs. 5,000 crores and an offer for sale of Rs. 2,460 crores.

Delhivery, with this IPO, is targeting a valuation of $6 to $6.5 billion. Also, it will be the latest addition to the list of tech firms trading on the share market.

• Ola

India’s largest indigenous cab booking service company, Ola, is also planning to go public in 2022. They aim here to raise Rs. 7,300 crores with this public issue. However, its finer details are not available yet.

Moreover, reports from several sources mention that Ola has plans to hold a pre-IPO round. This round will entail global firms like Temasek and Warburg Pincus, which can witness significant fundraising. Additionally, Ola has selected Citigroup Inc. and Kotak Mahindra Bank Ltd. to manage this IPO.

• PharmEasy

PharmEasy has been a notable name among India’s health-tech platforms. It offers a wide range of services that comprises online consultations, purchasing needed medicines, learning protocols of various treatments and others. The aim here is to offer a single-window system for patients to get all their required services.

PharmEasy has filed the draft papers with market regulator SEBI, which mentions that it plans to raise about Rs. 6,250 crores through this public offer. It will use the funds of this IPO to repay debt, meet general corporate purposes, and get an extra stake in Aknamed. Aknamed is a cloud-based hospital supply management platform.

• Bajaj Energy Ltd.

Bajaj Energy Ltd. is a renowned thermal power producing company with a well-established history of financing, managing and developing thermal power plants in India. As per its DRHP filed with SEBI, the company aims to gather Rs. 5,450 crores through this IPO. Moreover, it will include an OFS of Rs. 300 crores and fresh issue equity shares of Rs. 5,150 crores.

The company will utilise the net proceed of Rs. 4,927 crores of this public issue to buy the Lalitpur Power Generation Company. The outstanding amount will be used to fulfil this company’s general corporate purposes.

• Bharat FIH

Bharat FIH is a subsidiary of FIH Mobiles is, one of India’s leading EMS or electronic manufacturing services companies. Moreover, FIH Mobiles is a subsidiary of Foxconn Technologies. Bharat FIH has filed its DRHP with SEBI to raise around Rs. 5,000 crores through an IPO. This public issue will comprise 50% OFS and 50% fresh issue equity shares.

Furthermore, the company will utilise the proceeds from this public offer to fund its capital expenses to expand its current facilities. It will also invest in its subsidiaries, fund its working capital needs and meet its general corporate purposes.

• Emcure Pharmaceuticals

Emcure Pharmaceuticals is a well-known pharmaceutical company of India associated with developing, manufacturing and marketing various products. The company has plans to initiate an IPO of Rs. 4,500 crores. This will comprise an offer for sale of about 18 million shares and freshly issued equity shares of Rs. 1,100 crores. Debt repayment and funding general corporate expenses are two primary agendas to fulfil with the proceeds of this IPO.

• Go Airlines

When talking about budget airlines in India, one cannot skip the name Go Airlines. The company is currently in the process to introduce its IPO of Rs. 3,600 crores. This public offer will only include fresh issue equity shares, with a face value will be Rs. 10 per equity share. Along with this, Go Airlines is also considering the scope of an anchor investment of Rs. 1,500 crores. Go Airlines plans to lower its existing debts and fund its general corporate purposes with funds from this public issue.

• boAt Electronics

boAt Electronics is one of India’s leading audio equipment and wearables companies. Its product portfolio comprises headphones, earphones, wireless speakers, and wearables, to name a few. The USP of this company is to offer inexpensive yet premium products.

boAt Electronics has plans to go public this year with an IPO of Rs. 2,000 crores. This will include freshly issued equity shares of Rs. 900 crores and an OFS of Rs. 1,100 crores.

Axis Capital, BofA Securities, Credit Suisse Securities, and ICICI Securities are the lead managers of this IPO.

• Jana Small Finance Bank

Jana Small Finance Bank, one of India’s prominent small finance banks, predominantly works in rural and semi-urban areas. It aims to bring financial services to the regions where it is difficult to access such services.

As per its draft papers filed with SEBI, this public offer is likely to raise Rs. 2,000 crores. Additionally, this will include an offer for sale of Rs. 1,300 crores and fresh issue equity shares of Rs. 700 crores.

With proceeds from this public issue, Jana Bank plans to expand its Tier-1 capital base. Besides, SBI Capital Markets, Axis Capital, and ICICI Securities have been appointed as the lead managers of this IPO.

• Droom Technology Ltd.

Droom, which is a web-based marketplace for automobiles, has filed draft papers with SEBI regarding its IPO of Rs. 3,000 crores. This public issue will comprise both fresh issue equity shares of Rs. 2,000 crores and an OFS of Rs. 1,000 crores.

The proceeds of this IPO will be utilised to fund a range of expenditures, including general corporate purposes, meeting organic and inorganic growth initiatives, and more.

• MobiKwik

MobiKwik is a leading mobile wallet service provider that extends peer-to-peer payment services using UPIs. Additionally, it allows individuals to pay monthly bills, make investments in digital gold, and complete online recharges and other activities using this platform.

MobiKwik is planning to go public with an initial public offering of Rs. 1,900 crores. It will comprise both fresh issue equity shares of Rs. 1,500 crores and an offer for sale of Rs. 400 crores.

The aim here is to fund its growth initiatives (both organic and inorganic) with the funds raised through this IPO.

• Arohan Financial Services

Arohan Financials mainly serves the economically backward segment of this country. It primarily functions in areas where access to financial services is not so easy to come by. It extends microfinancing to assist self-help groups and local businesses in running their operations without any financial hurdles.

The public issue of Arohan Financial Services is likely to be worth Rs. 1,800 crores, and it will comprise both an offer for sale of 2.7 crore shares along with fresh issue equity shares of about Rs. 850 crores.

• Northern Arc Capital

Northern Arc Capital is another financial institution that is on the verge of making its public market debut. This NBFC extend credit facilities to individuals as well as businesses.

The public offer of this financial institution comprises fresh issue equity shares of Rs. 300 crores along with an OFS of 3,65,20,585 shares. The primary goal of this public offering is to support this financial institution’s capital base and fulfil its general corporate purposes.

• ixigo

Online travel booking aggregator ixigo is pondering the possibilities of an IPO. This initial public offering will be worth Rs. 1,600 crores. The fresh issue section will raise about Rs. 750 crores and the rest, i.e., Rs. 850 crores will be through an OFS.

• Penna Cement

Based out of Hyderabad, Penna Cement has a strong foothold in India’s Southern and Western markets in its segment. The company is also considering the possibility of an IPO of around Rs. 1,300 crores, which it will utilise to fund capital requirements and debt repayment.

• Utkarsh Small Finance Bank

The initial public offering of Utkarsh Small Finance Bank is likely to raise Rs. 1,350 crores. This will include fresh issues as well OFS or Rs. 750 crores and Rs. 600 crores, respectively. Apart from that, there will be a pre-IPO allotment round where this financial institution plans to raise around Rs. 250 crores.

Furthermore, the share allocation quota of Utkarsh Small Finance Bank is 75% for QIB, 15% for NIIs and 10% shares for RIIs. Utkarsh Small Finance Bank is another SFB that extend banking services in the areas of this country where traditional financial institutions do not operate.

• Fincare Small Finance Bank

Fincare Small Finance Bank, another SFB, is on the course to launch an IPO of around Rs. 1,330 crores. This public issue will include an offer for sale of Rs. 1,000 crores worth OFS and Rs. 330 crores worth fresh issue equity shares.

• Paradeep Phosphates

Paradeep Phosphates is a renowned fertiliser manufacturer in India. Like all other companies on this list, it also has plans to make its Dalal Street debut in 2022. To do so, it is in the process of initiating a public issue of about Rs. 1,255 crores.

The Government of India and Zuari Agro are two of its major investors who will sell off their stakes through this public offering. Additionally, this will be an exclusive offer for sale at a face value of Rs. 10 per equity share.

• Sterlite Power Transmission

Sterlite Power Transmission, one of India’s premier power transmission companies, is on course to go public with an IPO of Rs. 1,250 crores. Additionally, this will include only fresh issue equity shares at a face value of Rs. 2 per share.

The aim is to meet general corporate purposes and repay existing debts using the proceeds from this IPO.

• ESAF Small Finance Bank Ltd.

ESAF Small Finance Bank is now extending financial services to more than 40 lakh customers in various parts of this country through its 550 branches. The IPO size of this financial institution is Rs. 998 crores with fresh issue equity shares of Rs. 800 crores and an OFS of Rs. 198 crores.

• Shri Bajrang Power and Ispat

Shri Bajrang Power and Ispat is a prominent name in India’s steel, iron ore pellets and sponge iron segment. The company is on track to introduce an Rs. 700 crores IPO, which will comprise 41,18,000 freshly issued equity shares.

The company will use the funds gathered from this public issue for debt repayment and funding working capital needs.

• Hexagon Nutrition

Based out of Mumbai, Hexagon Nutrition is involved in the business of researching, developing, and marketing nutrition products. As per its DRHP filed with the SEBI, the company aims to raise around Rs. 600 crores through this public offering.

Furthermore, this will comprise a fresh issue section of Rs. 100 crores and an OFS of 3,01,13,918 shares.

Funds raised through this initial public offering will be used to repay existing debts, support working capital needs, meet the capital expenditure of expanding its current facility, and fund general corporate purposes.

• Studds Accessories Ltd.

Studds Accessories Ltd. is one of the leaders of the two-wheeler helmet segment in India, and it is a notable name in the motorcycle accessories segment across the world.

This IPO of Studds Accessories Ltd. will include an offer for sale of about Rs. 450 crores, to be raised through the sale of 39,39,000 equity shares from its current investors. It will also include a fresh issue section of Rs. 98 crores.

• eMudhra Ltd.

Digital signature provider eMudhra Limited has filed its DRHP with capital market regulator SEBI to launch its IPO. This public issue will include fresh issue equity shares of about Rs. 200 crores and an offer for sale comprising 85.1 lakh shares. Besides, the company also has plans to raise Rs. 39 crores via a pre-IPO round of investments.

The proceeds of this public issue will be utilised to boost working capital, repay current debts, invest in expanding its infrastructure, and fund general corporate purposes.

Final Word

A point to keep in mind here is that this is an indicative list for the companies planning to make their public debut in April 2022. Hence, expect changes as this month progresses.

Nevertheless, to stay updated with the latest stock market news, stay subscribed to the Angel One Blogs.

Frequently Asked Questions

1. How to get an application form for IPOs going live in April 2022?

You can find an application form for any public issue that is going live in April 2022 on the website of a broker of your choice or BSE/NSE. You can also download a physical copy of the same and submit it with the required details and needed documents.

2. What is the process of applying for a public issue through UPI?

According to the current regulations, retail individual investors can use their UPI IDs to apply for a public issue. Nevertheless, before making a payment, you need to link your bank account with UPI accounts like BHIM, Google Pay, PhonePe, etc. After completing this step, you will receive a payment mandate from your respective banks or broker. You need to fill out this mandate to complete the transaction. Additionally, once this mandate is authorised, you can start trading.

3. What is the process of applying for IPOs going live in April 2022?

Being a client of Angel One, you can apply for any public issue through your account on this platform. Additionally, you can also utilise your current UPI ID to block the subscription amount if it is connected with your Angel One account. Otherwise, you can always take the assistance of the ASBA process extended by banks to complete this process.

4. What is the process of staying up-to-date with any subscription news of public issues that are going live in April 2022?

To learn about the subscription status of an initial public offering, clients of Angel One can visit our website. Here, they get a chance to learn about company financials, various details of a public issue (timeline, price band, face value, etc.), and other associate details. Additionally, they can also learn the SWOT analysis of a company to gain further insight. Lastly, clients of Angel One can refer to its integrated IPO calendar to get an overview of how things are likely to happen.

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