Upcoming IPOs in November 2022

If you are looking for a new IPO in November 2022, then look no further. Investors are often on the lookout for new upcoming IPOs to invest in but they lack a comprehensive list of IPOs for the investment window that they have set for themselves. It is good to start off with a list of upcoming IPOs being released in a particular month and their basic details before locking in on an investment. Therefore, every month, we release a list of upcoming IPOs for the coming month for investors to choose from. 

IPOs are a good way to earn both short term and long term returns as prices are often more volatile than in the period immediately succeeding the IPO release.

List of upcoming IPOs in November 2022

Several major corporations are gearing up for their IPO this November. Here is a list of upcoming IPOs:

DCX Systems Ltd. 

It is a major manufacturer of electronic sub-systems, cable and wire harness assemblies. It has been a preferred Indian Offset Partner (IOP) for many foreign OEMs (Original Equipment Manufacturers) of defence and aerospace equipment, including companies from Israel, USA and South Korea. 

It plans to raise ₹500 cr of which ₹400 cr will be fresh issue and ₹100 cr will be  under offer for sale, with a price band of ₹197-₹207 per share. 

Fusion Microfinance Ltd. 

It is focused on giving financial services to woman entrepreneurs, especially from socially and economically backward communities, following the joint liability group lending model. It boasts today of 966 branches and 2.90 million active borrowers. 

The IPO comprises fresh issue of ₹600 cr and an offer for sale of 13,695,466 shares for ₹10 each. The price band is slated to be ₹350-₹368 per share.

Global Health Ltd. 

It is a multi-speciality tertiary care provider which operates hospitals under the Medanta brand. Its specialities include cardiology, oncology, neurology, urology etc. Its hospital at Gurugram was ranked as the best private hospital in India in 2020,2021 and 2022.

Its IPO aims to raise ₹500 cr worth of fresh issue and a further offer for sale of 50,761,000 equity shares. It has set a price band of around ₹319-₹336 per share.

Bikaji Foods International Ltd. 

It is an FMCG company producing Indian and western snacks – it is the largest manufacturer of Bikaneri Bhujia and the second largest manufacturer of handmade papad. 

Its IPO is slated to be a pure OFS with  29.37 million shares up for sale.

Century Metal Recycling Ltd.

It is considered to be the largest recycler in the aluminium recycling industry, primarily catering to the automotive sector and die-casting segment in India. It is the largest manufacturer of aluminium and zinc die-casting alloys in India. With this IPO, it is planning to raise over ₹700 cr.

Godavari Biorefineries

It is one of the largest producers of ethanol and ethanol-based chemicals in India. Additionally, the business is one of only two producers of natural 1, 3-butylene glycol in the whole world. They are also the fourth-largest ethyl acetate producer in the nation.They have the largest integrated biorefineries and is the largest manufacturer of the MPO chemicals in the world.

 It is coming up with a fresh issue of ₹370 cr and an OFS of 65.6 lakh equity shares. With this money, it plans to repay borrowings and also perform capital expenditure for the expansion of manufacturing units.

Aadhar Housing Finance

They are the largest housing finance company that provides mortgage-related loans to the lower-income group in the rural and semi-rural areas. On December 31, 2021, Aadhar Housing Finance had 325 branches in 20 states and union territories, with no state accounting for more than 16.2% of gross AUM.

The ₹7300 cr that it plans to raise will have ₹1500 cr fresh issue and ₹5800 cr OFS components. The proceeds from the fresh issues will augment the company’s capital base.

Snapdeal Ltd.

Snapdeal is an e-commerce giant that has a major consumer base in the Tier-2 cities. its subsidiary Unicommerce provides SaaS instruments in processing and intelligence services and is one of the largest in terms of revenue in that particular field for retail clients. 

It is planning on raising ₹1250 cr through a fresh issue alongside 30,769,600 equity shares as a part of OFS. The funds generated through the IPO will be used in organic growth initiatives and general corporate expenses. 

INOX Green Energy Services Ltd. 

It is an India-based company that offers wind power Operations and Maintenance services to its customers. It is a subsidiary of INOX Wind Ltd. that produces Wind Turbine Generators (WTGs) – this allows it to have a strong cushion on its demand levels. 

The company plans on raising ₹740 cr in order to repay certain borrowings as well as for general corporate purposes. This involves issuing fresh equity worth ₹370 cr and also an OFS worth another ₹370 cr.

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Disclaimer: This blog is exclusively for educational purposes. The securities quoted are exemplary and not recommendatory.