Upcoming IPOs in October 2021

The IPO frenzy of India in 2021 is reaching new heights, with reports from various sources claiming it will hit the Rs. 100 lakh crore mark. After hitting a few snags in the previous financial year due to the Covid-19 outbreak, this is a positive sign. The market, in general, has recovered well, and Sensex is reaching new highs every day.

A positive market vibe has further provided confidence to the companies to go public to bag this opportunity. Thus, you can expect a busy October, as a number of IPOs are expected to go live.

IPOs in the Calendar Year of 2021

The number so far is staggering, undoubtedly, but there is still a lot to come in this year. Industry giants such as LIC, Paytm, Policybazar, Ola, Nykaa, Oyo, Star Health and many more are waiting in the pipeline.

Companies like Zomato, Devyani International, Paras Defence, Barbeque Nation have closed their public issues with great success. In the meantime, others are preparing their DRHP or have already filed them with market regulator SEBI.

Following is a list of companies that are awaiting IPOs between October 2021 and March 2022.

IPOs to Expect in October 2021

Following is a list of companies that are gearing up to go public in the month of October 2021. However, bear in mind that this information is tentative and subject to modification as further updates are available.

Emcure Pharmaceuticals

• Emcure Pharmaceuticals is one of the leading pharma companies in this country. They are preparing for an initial public offering of about Rs. 4,500 crores.
• This public issue will comprise fresh issue equity shares of Rs. 1100 crores and offer for sale of nearly 18 million shares by current stakeholders and company promoters.
• The company will utilise these funds to repay its current debts.

Nykaa 

• One of India’s prominent beauty and wellness product sellers are gearing up to go public this fiscal year.
• This public issue is expected to have a valuation of Rs. 4000 crores and it will comprise fresh issue shares of Rs. 525 crores and an OFS of up to 43 million shares.
• Nykaa has about 1.5 million users, generating approximately 1.7 million orders every month. The company has more than 1200 brands on its website and registers around 50 million website visitors monthly.
• As of November 2020, Nykaa has reported a valuation of $1.8 billion. After this IPO, the company targets a market valuation of $5 to 5.5 billion.
• Nykaa is the only unicorn startup in India, which is reporting a profit.

Star Health and Allied Insurance Co. Ltd.

• The market leader of India’s private insurance sector, Star Health, currently has a market share of 15.8%.
• In the fiscal year of 2021, Star Health has collected a gross written premium of Rs. 9348.95 crores.
• The company has filed a DRHP with capital market regulator Securities and Exchange Board of India to launch an IPO of Rs. 3000 crores.
• This public issue will constitute fresh issue equity shares of Rs. 2000 crores and an OFS of about 6 cores equity shares.
• The objectives of this public issue are to maintain solvency levels and expand the capital base.

CMS Info Systems

• Renowned cash management company CMS Info Systems has filed DRHP to go public with an IPO of Rs. 2,000 crores.
• This public issue will consist of an offer for sale only.
• The company work with banks and other financial institutions in delivering and picking up cash and with ATM services.

MobiKwik

• One of India’s renowned mobile wallet service providers, MobiKwik, has filed a DRHP to go public with an IPO of Rs. 1900 crores.
• This public issue will comprise a primary share sale of Rs. 1500 crores, and the rest will be an OFS.
• Also, the company has reserved 4.5 million or 7% of its equity for its employees.
• The firm is known for offering peer-to-peer payment facilities using UPIs. With the help of this platform, you can streamline your recharges, bill payments, and making investments in digital gold.
• MobiKwik has plans to touch the $1 billion valuations with this initial public offering.

Arohan Financial Services

• Arohan Financial Services primarily provides credit to the economically backward sections and in areas where traditional financial services are not readily available.
• According to its draft red herring prospectus, Arohan Financial Services is planning to go public with an IPO of around Rs. 1800 crores.
• This public issue will comprise an offer for sale of 27,055,893 shares and fresh issue equity shares of Rs. 850 crores.
• The company also has plans to host a pre-IPO allotment of Rs. 150 crores.
• As specified in their DRHP with SEBI, Arohan Financial plans to keep 50% of its allotted shares for Qualified Institutional Buyers, 35% for Retail Investors, and 15% for Non-Institutional Investors. Also, they will allocate 5% shares for their employees.

Penna Cement

• Penna Cement is one of the leading cement manufacturers in this country. The company has a yearly production capacity of 10 million tonnes. Also, Penna Cement has a strong presence in Southern and parts of Eastern India.
• In terms of its IPO, it is likely to have a valuation of Rs. 1550 crores. Also, it will include fresh issue equity shares worth Rs. 1300 crores, and an OFS of Rs. 250 crores.
• Edelweiss Financial Services, ICICI Securities, JM Financial, Axis Capital Limited, and Yes Securities (India) Limited are the book running lead managers of this public issue. KFin Technologies Private Limited is the registrar of this IPO.
• Penna Cement recorded a revenue of Rs. 2476 crores in FY2021 with an operating profit of Rs. 480 crores. Additionally, the net profit for this financial year was Rs. 152 crores.

Utkarsh Small Finance Bank

• Utkarsh Small Finance Bank received a go-ahead from capital market regulator SEBI in June to initiate its IPO proceedings. Once realised, they will be the 6th small finance bank to have a presence in Dalal Street.
• The size of this IPO is likely to be around Rs. 1350 crores, comprising an offer for sale of Rs. 600 crores and a fresh issue of Rs. 750 crores. Current majority shareholder Utkarsh Coreinvest Limited will liquidate its stake through this public offering.
• The small finance banks plan to use the IPO proceeds to improve their tier-I business expansion capital.

Fincare Small Finance Bank 

• Another notable SFB of India, Fincare Small Finance Bank, is preparing to go public in this financial year. Moreover, they have filed the draft red herring prospectus earlier this year to launch an IPO.
• This public issue is likely to be worth Rs. 1330 crores, comprising fresh issue equity shares of Rs. 330 crores, and an OFS of Rs. 1000 crores by the company’s promoters.
• The financial institution based in Bengaluru has a network of 528 banking outlets, 219 business correspondent outlets, and 108 ATMs extending services to customers in 16 states and 3 UTs.

ESAF Small Finance Bank Ltd

• ESAF Small Finance Bank Limited is another financial institution on the road to go public. Their initial plan was to launch an IPO in early 2021, but the pandemic haltered their progress.
• As per its DRHP, this public issue is likely to have a size of Rs. 998 crores, comprising fresh issue equity shares of Rs. 800 crores, and the rest is via OFS. Current stakeholders will divest their shares through this IPO.
• According to the RBI mandate, banks that cross the Rs. 500 crore threshold required to list shares on their local exchange within five years of achieving this milestone. Hence ESAF SFB is hurrying to go public.

Shriram Properties

• Shriram Properties has filed its draft red herring prospectus to the public with capital market watchdog SEBI.
• This initial public offering is touted to have a valuation of around Rs. 800 crores. It will consist of Rs. 550 crores in offer for sale, and Rs. 250 crores in fresh issue equity shares.
• The face value of a share in this public issue is Rs. 10 per share.
• The Bengaluru-based real estate company has appointed Nomura Financial Advisory and Securities, Axis Capital, and ICICI Securities as the investment bankers of this IPO.

Shri Bajrang Power & Ispat Limited

• Shri Bajrang Power & Ispat Limited is one of the leading integrated steel companies in this country. They have finally received a green light from SEBI to initiate the IPO proceedings. This public issue is estimated to be Rs. 700 crores.
• Shri Bajrang Power & Ispat Limited IPO will have 41,18,000 fresh issue equity shares, against a face value of Rs. 10 per share.
• The company will use the IPO proceeding to pay its current liabilities and fulfil its working capital needs.
• SBI Capital Markets Limited, Equirus Capital Private Limited and IDBI Capital Markets & Securities Limited are the investment bankers for this public issue. Additionally, Link Intime India Private Limited has been appointed as the registrar.

Studds Accessories Limited

• Motorcycle helmets and accessory manufacturer Studds Accessories Limited is preparing to hit the bourses in this financial year.
• As per company sources, this public issue is expected to have a size of about Rs. 98 crores. Additionally, current stakeholders are likely to offload around 3,939,000 equity shares.
• The company achieved a unique feat in 2018 by becoming the world’s highest seller of two-wheeler helmets. Moreover, some reports suggest that Studds have doubled the investor’s wealth in the grey market since March 2020. Despite the Covid-19 pandemic, the company has generated Rs. 436.94 crores in revenue.

Upcoming IPOs in 2021

With a host of IPOs in the pipeline, this year will be a busy one in Dalal Street. Here is an overview of some notable IPOs that are likely to go live by the end of this financial year, i.e. March 2022.

LIC India Ltd.

• India’s premier life and general insurance company is gearing up to make its stock market entry before the end of this fiscal year.
• As per reports, the Life Insurance Corporation of India holds about 69% market share of India’s insurance sector. Also, the company operates on a fund base of Rs. 290 crores.
• Once launched, this LIC public issue will be the biggest one to date in the Indian market. Even though the actual IPO size is not made public yet, it is rumoured to have a valuation of Rs. 45,000 to Rs. 55,000 crores.
• The price of this initial public offering is expected to be between Rs. 400 and Rs. 500.
• This public offering comes as a part of the Indian Government’s disinvestment plans of Rs. 1.75 lakh crore, which they set to achieve in this fiscal year of 2021-22.

Paytm 

• The parent company of Digital payment giant Paytm, One97 Communications, is considering an IPO of Rs. 16,600 crores. With this public issue, Paytm is eyeing a $25 billion market valuation.
• Paytm’s share prices in the grey market have been around Rs. 2,500 taking the final valuation of this firm to $19 billion.
• This public issue will include fresh issue equity shares and an offer for sale of Rs. 8300 crores each.
• If the final issue size of Paytm’s IPO does not change, it will be one of the largest public issues in India to date. It will overtake Coal India’s initial public offering of Rs. 15,475 crores, which went live in 2010.

PharmEasy

• PharmEasy is India’s 1st billion-dollar retail and online medicine startup. The company is currently considering the possibility to go public with an IPO of around Rs. 3,000 to Rs. 3,700 crores.
• As per some sources, PharmEasy’s parent company, i.e. API Holding, is planning to list company shares in the USA in order to better its valuation.
• Furthermore, PharmEasy made a historic move in June 2020 by acquiring Thyrocare. The startup became the first non-listed company to obtain majority shares in a listed organisation. Thyrocare is a renowned diagnostics chain, and they have been in operation for 25 years.

boAt Electronics

• Consumer electronics manufacturer boAt is planning to file a draft red herring prospectus with SEBI for an IPO of about Rs. 3500 crores.
• The company is in discussion with its lead manager to finalise the details of this move.
• Once materialised, this public issue will value boAt Electronics at around Rs. 11,000 crores.
• No other information is available yet regarding this public issue.

Lava International

• The indigenous mobile phone company Lava International is planning to go public with an IPO of Rs. 2400 crores.
• As per sources, they will file DRHP once they receive a nod from their board and current stakeholders.
• This public issue will reportedly comprise fresh issue equity shares and an offer for sale, with a face value of Rs. 5 per share.
• The objective of this IPO is to strengthen the company’s financials to increase its scope of business.

MedPlus

• Another prominent pharmacy retailer of India, MedPlus Health Services, has filed DRHP with SEBI.
• This MedPlus IPO is estimated to be worth about Rs. 1600 crores. It will include an offer for sale of about Rs. 1,000 crores, and fresh issue equity shares worth Rs. 600 crores.
• Objectives of this public issue include meeting the working capital needs of its subsidiary, Optival.
• Besides medicines and medical equipment, this Hyderabad-based firm also deals in FMCG products.

Helthium Medtech

• India’s 2nd largest surgical sutures and medical consumable manufacturing company, Helthium Medtech, has plans to launch an IPO.
• This public issue is expected to have a valuation of around Rs. 1500 crores and it will value the company at about Rs. 7500 crores.
• This public issue comprises fresh issue equity shares of Rs. 390 crores and an OFS of 3.91 crores by current investors.
• Proceeds from this IPO will be used across the board for business development.

Data Patterns

• Defence and aerospace electronic component supplier Data Pattern has filed with the Securities and Exchange Board of India to launch an IPO.
• This public issue is likely to have a valuation of Rs. 600 to 700 crores.
• Also, it will include fresh issue shares of Rs. 300 crores and an OFS of 60.70 lakh shares by current stakeholders.

Seven Islands Shipping Ltd.

• Seven Island Shipping Limited is India’s third-biggest crude oil carrier and seaborne logistic company.
• The company has finally received a ‘get-go’ from the Securities and Exchange Board of India to go public. This initial public offering is expected to be of Rs. 600 crores.
• It will include an OFS of Rs. 200 crores and fresh issued equity shares of Rs. 400 crores.
• Seven Island Shipping Limited will use the IPO proceedings to buy new vessels for crude oil transportation.

Delhivery

• Delhivery has become India’s leading supply chain and logistics company in terms of revenue. The company has overtaken segment leader Blue Dart with a total income of Rs. 3700 crores, which is about Rs. 400 crores more than its closest peer.
• The company is presently working on preparing its DRHP. It has plans to go public by the end of this fiscal year.
• This IPO is expected to have a $400 to 500 million valuation, pushing the company’s overall valuation over the $4 billion mark.

Anand Rathi Financial Services Ltd

• Anand Rathi Financial Services Ltd is one of the popular non-banking financial service providers in this country. The company product portfolio includes PMS or portfolio management services, stocks, and research advisory. They also extend investment options in mutual funds and insurance policies.
• Anand Rathi Financial Services Limited has filed its DRHP, but further information is currently not available.
• As per sources near to the company, about 1.2 crore shares will be available for subscription.

Medi Assist Insurance TPA Pvt. Ltd.

• Medi Assist is an insurance policy administrator that helps insurance companies in documents processing and claim settlement.
• As a health insurance TPA, Medi Assist will be the first of its kind to make its Dalal Street debut.
• As per different reports, this public issue is likely to be an offer for sale issue only, comprising an estimated 2.8 crore shares from current promoters and shareholders of the company.

Closed IPOs in October 2021

 

Upcoming IPO in October 2021 FAQs

How can I avail the application forms for IPOs going live in October 2021?

Application forms for IPOs going live in October are available on the website of NSE/BSE alongside a broker’s website as well. You can also get a physical copy by downloading it from the website of your broker. After that, you can duly fill and submit it along with the essential papers.

How to know the total IPO size for October 2021?

To know about the total IPO size for October, you can just multiply the price of every stock with the total number of remaining stocks and then add the value of a single share.

How to stay informed with the subscription news for IPOs in October 2021?

Clients of Angel One can visit our website or mobile app to check an IPO and its subscription details. They can also review issue size, price band, face value, lot size, company financials, and SWOT analysis. Visit our IPO calendar for a swift outline of the same.

How to apply for IPOs using UPI?

According to the current regulations, retail investors can take the help of UPI ID for their IPO applications. But, to initiate payments through this ID, you need to connect your bank account with your UPI handle, such as BHIM, Google Pay, PhonePe, etc. After this, your broker or bank will send a payment mandate to confirm this transaction. You can start trading after you confirm this mandate.

How to apply for an upcoming IPO in October 2021?

Current customers of Angel One can use their AO accounts via our mobile application or website to apply for any public issue. They can use a UPI ID to block their allotted amount once they link their respective IDs with the Angel One account. On the other hand, investors can also take the help of the ASBA process to freeze the required amount for any upcoming IPOs.