Upcoming IPOs in March 2024

Enjoying the buzz around IPOs in February? Well, hold onto your hats because March is shaping up to be just as dynamic. After a month of successful debuts, investors are eagerly eyeing the next batch of companies preparing to go public.

These IPOs offer a unique chance to be part of promising businesses embarking on their public journey. Staying informed is key to making smart investment choices and building a robust portfolio. So, what are you waiting for? Let’s dive into the upcoming IPOs of March 2024!

Upcoming IPOs in March 2024

1. Bharat Highways Infrastructure Investment Trust

Bharat Highways InvIT is an infrastructure investment trust focused on acquiring and managing a portfolio of road assets across India. It operates under the SEBI InvIT Regulations, allowing it to invest in infrastructure projects. Currently, the Trust’s portfolio comprises seven roads spread across five states. 

These roads operate under the Hybrid Annuity Model (HAM), with concession rights granted by the National Highways Authority of India (NHAI). Each project is owned and managed by a dedicated Special Purpose Vehicle (SPV) currently under the sole ownership of GRIL (GMR Infrastructure Limited).

Bharat Highways InvIT enjoys a Right of First Refusal (ROFR) agreement with GRIL. This agreement grants the Trust priority access to acquire certain other assets owned or under development by GRIL, expanding its potential investment opportunities.

2. M.V.K AgroFood Product

Established in 2018, MVK Agro Food Product Limited is a multi-faceted producer of sugar and related products. With a licensed crushing capacity of 2,500 tons per day (TCD), the company utilises its resources to generate both sugar and valuable by-products like molasses, bagasse, and press mud.

MVK Agro adopts an indirect sales model, primarily through brokers who act as intermediaries. These brokers connect the company’s products with major export houses like PepsiCo India, Parle Biscuits, and Britannia Industries. Additionally, the company caters to export-oriented traders, further expanding its reach beyond established brands.

3. Mukka Proteins

Established in 2003, Mukka Proteins Limited is a manufacturer of fish-based protein products. The company’s core products include fish meal, fish oil, and fish soluble paste, which are key ingredients in aqua feed (for fish and shrimp), poultry feed (for broilers and layers), and pet food (for dogs and cats). 

The company currently operates 6 production facilities, four of which are located in India and two in Oman, which its foreign subsidiary owns. Additionally, the company operates 3 blending plants and five storage facilities, all of which are located in India. All of the company’s facilities are strategically located near the coast.

4. R K Swamy Ltd (Issue size Rs 423.56 crore)

R K Swamy Ltd, a leading integrated marketing communications and data analytics company, is set to launch its IPO on March 4, 2024. The subscription window will close on March 6, 2024. Investors can expect the allotment of shares to be finalised on March 7, 2024, with the shares credited to their demat accounts by March 11, 2024. While the official listing date is yet to be announced, the tentative date for R K Swamy’s IPO listing is March 12, 2024.

5. JG Chemicals Ltd (Issue size Rs 251.19 crore)

JG Chemicals Ltd, a prominent zinc oxide manufacturer, is launching its IPO on March 5, 2024, and the subscription window will close on March 7, 2024. The allotment of shares is expected to be finalised on March 11, 2024, with the shares credited to demat accounts by March 12, 2024. While the official listing date remains undisclosed, the tentative date for JG Chemicals’ IPO listing is March 13, 2024.

6. Gopal Snacks Ltd (Issue size Rs 650 crore)

Gopal Snacks Ltd, a well-known FMCG company specializing in ethnic and western snacks, is scheduled to launch its IPO on March 6, 2024. The subscription window will close on March 11, 2024, with allotment finalisation expected on March 12, 2024, and shares credited to demat accounts by March 13, 2024. The official listing date is yet to be announced, but the tentative date for Gopal Snacks’ IPO listing is March 14, 2024.

How To Apply for an IPO?

Apply for an IPO with Angel One in 5 easy steps. To initiate the application for an IPO through Angel One, start by logging into the Angel One App or website. 

1. Navigate to the ‘IPO’ section on the Home page. 
2. Choose the specific IPO of interest and carefully review the details, such as maximum quantity, maximum investment, and information about the company.
3. Proceed by clicking on ‘Apply Now’ to begin the application process. 
4. Specify the number of lots you wish to apply for and set the bidding price, including your UPI ID. 
5. After inputting these details, confirm your bid and be prepared to accept the payment mandate that will be sent to your UPI App.

Once you successfully complete these steps, your IPO application will be submitted. To monitor the progress and status of your IPO, you can conveniently check the ‘Order Book’ section in the IPO portal. This straightforward process ensures a seamless application experience for participating in IPOs through Angel One.

Final Words

The Indian IPO market is witnessing a surge in activity, fueled by the positive performance of the stock market and the strong economic data. The upcoming Mainboard IPOs in March 2024 cover diverse sectors, including marketing communications, food products, chemicals, and consumer goods, offering a range of investment opportunities for investors with varying risk appetites. The mainboard IPOs in the month of March so far are going to raise around Rs 1,548.75 crore.

Potential investors must conduct thorough research and due diligence before making any investment decisions. This should involve carefully analysing the company’s financials, business model, future prospects, and overall market conditions. While the tentative listing dates are subject to change, this overview provides a roadmap for potential investors interested in these upcoming IPOs. Remember, any investment decision should be based on a comprehensive understanding of the associated risks and potential rewards.

For comprehensive information on the upcoming IPOs throughout 2024, explore the IPOs section within the Angel One App. If you haven’t downloaded the app yet, be sure to do so and open your free Demat account with Angel One now!