The Indian IPO market is going through a golden phase with many companies across different market capitalisations coming out with public issues. With the stock markets touching record heights, the market sentiment seems buoyant, making it the perfect time to invest in some Initial Public Offers of companies. Here are some upcoming IPOs in 2023 you can consider investing in.
Upcoming IPOs in 2023
Public issues in India can be categorised into two types – mainboard IPO and SME IPO. Mainboard IPO comprises public issues from large companies with paid-up capitals of more than ₹10 Crores. SME IPO, on the other hand, comprises public issues from companies from the Small and Medium Enterprise (SME) segment with paid-up capital of less than ₹10 crores. Check out some of the upcoming IPOs from both the Mainboard and SME segments.
Upcoming Mainboard IPOs in 2023
● Tata Technologies Limited
A part of the prestigious Tata Group of Companies, Tata Technologies Limited was incorporated in 1994. The company is involved in the business of providing global engineering services, product development and digital solutions to its clientele. The company’s primary domain expertise is in the automotive industry. However, it has also developed products and provided services for the aerospace, transportation and heavy construction machinery industries.
The public issue of Tata Technologies Limited comprises an Offer for Sale component with no new issue of shares. This means that the proceeds from the public issue would go to the selling investors and not the company. The company’s investors are planning to sell around 9.57 crores of equity shares via this IPO. Both the pricing of the issue as well as the issue opening and closing dates have not been made public as of yet.
● National Securities Depository Limited
The National Securities Depository Limited (NSDL) is one of only two depositories issuing demat accounts in India. As of March 2023, NSDL is the largest depository in the country in terms of number of issuers and the value of assets held in custody. In addition to demat accounts, the entity provides multiple other products and services related to the financial securities market.
The entire IPO of NSDL features only an Offer for Sale (OFS) from the company’s investors. The company will not be issuing any new shares to the public. As per the Draft Red Herring Prospectus (DRHP) filed by the company, around 5.72 crore equity shares will be issued as part of the OFS. As of now, NSDL hasn’t revealed the opening date or the issue price band.
● SBFC Finance Limited
A Non-Banking Finance Company (NBFC), SBFC Finance was incorporated in 2008. The company is involved in the business of providing a wide range of loan products such as gold loans and secured MSME loans. The clientele of SBFC Finance primarily includes individuals and entities from the unserved and underserved segment.
The upcoming IPO of SBFC Finance Limited is a ₹1,200-crore public issue consisting of an Offer for Sale from its promoters as well as a fresh issue of shares. The fresh issue component is likely to fetch the company around ₹750 crores. The OFS component, meanwhile, is likely to fetch around ₹450 crores for the company’s selling shareholders. The company plans to use the funds from the fresh share issue to further augment its capital base.
Upcoming SME IPOs in 2023
● Oriana Power Limited
Established in 2013, Oriana Power Limited is involved in the business of providing solar energy solutions to individual, industrial and commercial clientele. The company provides on-site solar project installation services, rooftop solar products, ground-mounted systems and off-site open-access solar farms.
The upcoming public issue of Oriana Power Limited is a book-built IPO with a total issue size of ₹59.66 crores. The issue is slated to open for subscription on August 01, 2023, and will stay open until August 03, 2023. The price band of the issue is ₹115 to ₹118 per share. The company plans to issue around 50.55 lakh equity shares through this Initial Public Offer.
● Vinsys IT Services Limited
Founded in 2008, Vinsys IT Services Limited is an IT development services provider and part of the Vinsys Group of Companies. The company also provides IT skill development, training and certification to individuals. Some of the trusted partners of Vinsys IT Services include industry leaders like CompTIA, Oracle, Red Hat, Citrix, Microsoft and AWS, among others.
The IPO of Vinsys IT Services Limited opens to the public on August 01, 2023. The total issue comprises a fresh issue of around 38.94 lakh equity shares aggregating up to ₹49.84 crores. The price band of the issue has been notified as ₹121 to ₹128 per share. The company plans to use the funds raised through the public issue for its working capital needs and to repay its loans.
Conclusion
Since the companies in the mainboard IPO list have just filed their DRHP, a lot of information about the issue opening and closing dates and the price band are not available. However, more information may come to light once the company files the final Red Herring Prospectus.
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