Check Out These Upcoming IPOs in October 2024

An IPO is when a private company first offers its shares to the public, allowing people to become part owners of the business. These offerings provide a unique chance to invest in emerging companies with great growth potential. Investors must do thorough research before investing in an IPO. By buying shares at this early stage, they can benefit from the company’s growth, which may lead to significant returns as the company develops and gains market share. In this article, we will look at the upcoming IPO, which will be listed on exchanges in October 2024.

Upcoming IPOs in October 2024

Mainboard IPO

• Garuda Construction and Engineering IPO

The Garuda Construction and Engineering IPO is a book-built issue worth ₹264.10 crore. This IPO consists of a fresh issue of 1.83 crore shares, raising ₹173.85 crore, and an offer for sale of 0.95 crore shares, totalling ₹90.25 crore.

The IPO will be open for subscription from October 8, 2024, to October 10, 2024. Allotments are expected to be finalised on Friday, October 11, 2024. The shares will be listed on the BSE and NSE, with a tentative listing date set for Tuesday, October 15, 2024.

The price band for the Garuda Construction and Engineering IPO is set at ₹92 to ₹95 per share. The minimum lot size for applications is 157 shares. Retail investors need to invest at least ₹14,915. For small and non-institutional investors, the minimum investment is for 14 lots (2,198 shares), amounting to ₹208,810. For big non-institutional investors, the minimum is 68 lots (10,676 shares), totalling ₹1,014,220.

SME IPO

• Khyati Global Ventures IPO

Khyati Global Ventures IPO is a fixed price issue worth ₹26.22 crore. It includes a fresh issue of 18.48 lakh shares totalling ₹18.30 crore and an offer for sale of 8 lakh shares worth ₹7.92 crore.

The IPO will be open for subscription from October 4, 2024, to October 8, 2024. The allotment of shares is expected to be finalised on Wednesday, October 9, 2024, and the shares will be listed on the BSE SME on Friday, October 11, 2024.

The IPO price is set at ₹99 per share. Investors need to apply for a minimum of 1,200 shares, with a minimum investment of ₹1,18,800 for retail investors. High Net Worth Individuals (HNIs) must apply for at least 2 lots (2,400 shares), which requires an investment of ₹2,37,600.

Advantages of Investing in IPO

• Early Investment Opportunity: IPOs let investors buy shares early in a company’s growth, offering the chance to invest in businesses with strong future potential.
• Quick Profits from Listing Gains: IPOs can offer short-term profits when shares are in high demand, often leading to higher listing prices and quick returns.
• Shareholder Rights: Investors who receive shares through an IPO become part-owners, gaining voting rights and the possibility of receiving dividends.

Points to Remember Before Investing in an IPO

• Read the Red Herring Prospectus: This document outlines how the company plans to use the funds and highlights potential risks, helping investors make informed decisions.
• Avoid Market Hype: Don’t be swayed by advertisements or media promotions. Be cautious of promises of unrealistic gains.
• Align with Financial Goals: Consider your investment goals and risk tolerance before investing.
• Avoid Borrowing to Invest: Never use borrowed money for IPO investments, as losses can be worse if you’re repaying a loan.
• Caution Advised: Not all IPOs perform well post-listing, so thorough research into the company and its business is important before investing.

Conclusion

Investing in an IPO can be risky, but it can also be rewarding. If a company grows fast and has a good product, it might be a good investment. But if it has problems or risks, it might not be successful. Before investing, research the company and understand the risks. 

India’s biggest automobile IPO of 2024! Hyundai’s IPO will open from October 15 to 17, 2024. Don’t miss your chance to be part of the automobile industry!

Disclaimer: This blog 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.