If you’re in search of the most recent IPOs in India for 2024, here is a compilation of upcoming IPOs expected to enter the market soon. This list comprises companies that have filed DRHP and RHP and are anticipated to debut in the primary market in the upcoming months of 2024. Don’t forget to stay updated and subscribe to this week’s latest IPOs in BlinkX online trading app.
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What is an IPO?
An IPO, short for Initial Public Offering, occurs when companies offer their privately held shares to the public for sale. To initiate this process, companies must submit a DRHP (Draft Red Herring Prospectus) to SEBI, aiming to transition from a Private Limited to a Limited identity. Following SEBI’s approval of the Initial Public Offer, companies proceed with filing a DRHP and a final RHP (Red Herring Prospectus) for the IPO. Subsequently, the company determines the price band and the investment date for the IPO, allowing investors to participate through UPI or ASBA formats.
List of Recent IPOs in India
An IPO, or initial public offering, is the mechanism by which a private limited company offers its shares to the public for sale. Through IPOs, companies secure funds from the public to address various financial needs, including debt repayment, working capital, acquisitions, and other corporate objectives. To participate in the latest IPO investors can apply online through UPI-based applications or through their bank using the ASBA format.
Jyoti CNC Automation
Jyoti CNC Automation, a prominent player in CNC machine manufacturing globally, aims to raise around ₹1000 crores through IPO. This comprises a fresh issue of ₹1000 crores and an offer for the sale of equity shares priced at ₹2 each. The allocation is 10% for retail investors, 75% for qualified institutional buyers (QIB), and 15% for high-net-worth individuals (HNI).
Medi Assist Healthcare
Medi Assist Healthcare, India’s largest health benefits administrator, targets ₹1,172 crores via its IPO, and an offer for sale of up to 28,028,168 equity shares at ₹5 each. HNI is 15%, QIB is 50%, and the retail quota is 35%.
EPACK Durable
EPACK Durable, a rapidly growing original design manufacturer of room air conditioners, aims to raise around 640 crores in its IPO. This includes a fresh issue of ₹400 crores and an offer for sale of up to 13,067,890 equity shares at ₹10 each. The allocation is 35% for retail investors, 50% for QIB, and 15% for HNI.
Nova Agri Tech
The Nova AgriTech IPO is a main-board IPO, offering 35,075,693 equity shares with a face value of ₹2, aiming to raise up to ₹143.81 Crores. The price range for the issue is set at ₹39 to ₹41 per share, and the minimum order quantity is 365 shares.
Allied Blenders and Distillers
Allied Blenders and Distillers, the largest Indian-owned IMFL company, plans to raise ₹2000 crores via its IPO. This includes a fresh issue of ₹1000 crores and an offer for sale of up to ₹1000 crores at ₹2 each. The allocation is 35% for retail investors, 50% for QIB, and 15% for HNI.
Balaji Speciality Chemicals
Balaji Speciality Chemicals, a niche chemicals manufacturer in India. It aims for ₹425 crores through its IPO, consisting of a fresh issue of ₹250 crores and an offer for sale of up to 2,60,00,000 equity shares at ₹2 each.
How to Participate in an IPO?
There are three methods to apply for an IPO which are as follows:
UPI – Online: Utilize your Demat Account App such as BlinkX Demat account, and various other stock broking platforms. Choose the IPO and apply with your UPI ID. Approval will be sent to your bank or Google Pay account, and you must authorize the mandate to complete your application.
ASBA – Online: Log in to your bank account to apply for the IPO using ASBA. Provide details like Demat Account Number, PAN Number, and Bidding Details, and then submit your application.
Broker – Offline: Contact your broker to apply for the latest IPO. They will assist you in filling out the form and submitting it.
Conclusion
As you know about the latest IPOs in India for 2024, outlining the process from DRHP submission to determining the price band and investment date. You can also know how investors can participate in an IPO through various methods, including UPI online applications, ASBA online applications, and offline applications through brokers. The article emphasizes the importance of staying updated and subscribing to the latest IPOs, acknowledging occasional date variations.
