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Upcoming IPOs in September 2021

05 August 20226 mins read by Angel One
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After the devastating effects of the second wave of Covid-19 and subsequent lockdowns across the country, the economy is on the path to recovery. The market is also showing steady growth, which is evident by Sensex’s recent rally to its highest ever mark. In the midst of such a positive market scenario, companies are lining up to launch their IPOs. So, you can expect September to be a busy month as well.

IPOs in the Fiscal Year 2020 – 21

IPOs in FY 2020 – 21 55
Amount Raised Via Public Issue (Initial Public Offer + Follow-On Public Offers) in FY20-21 Rs 46,000 Crore
Amount Raised Only Through IPO in FY 2020-21 Rs 31,000 Crore

The names on the IPO list for FY2022 will keep investors on their toes as companies such as LIC, Paytm, Oyo, Ola, Nykaa, and Star Health are waiting in the pipeline. While the likes of Zomato and Devyani International have closed their IPOs with great success, others have filed their DRHPs or are preparing for them.

Following is a list of companies that can make their Dalal Street debuts between September and March of the ongoing fiscal year.

Companies  Tentative Size
LIC Ltd. Rs. 55,000 Crores
Paytm Rs. 16,600 Crores
PolicyBazaar Rs. 6,000 Crores
Nykaa  Rs. 4,000 crores
PharmEasy Rs. 3,700 Crores
Aditya Birla Sun Life AMC Rs. 3,000 crores
Star Health Insurance Rs. 2,000 Crores
MobiKwik Rs. 1,900 Crores
MedPlus Rs. 1,600 crores
Penna Cement Rs. 1,550 Crores
Supriya Lifesciences Rs. 1,200 Crores
Apeejay Surrendra Park Hotels Rs. 1,000 Crores
Medi Assist Healthcare Services Rs. 850 Crores
Seven Island Shipping Ltd. Rs. 600 crores
Ami Organics Rs. 300 crores
HP Adhesives To be announced
Delhivery To be announced
Oyo Hotels and Homes To be announced
Ola To be announced
Anand Rathi Financial Services Ltd. To be announced

IPOs to Look Forward to in September 2021

Following is a look at the organisations that are planning to launch their public issues in September 2021. Note that this is a tentative list and is subject to modifications as more updates become available.

Company Name IPO Size (Approx.) Tentative Date
Sansera Engineering Rs. 1282.98 crores 14 September 2021
Ruchi Soya  Rs. 4300 crores (FPO) September 2021
Aditya Birla Sun Life AMC Rs. 3000 crores September 2021
Star Health and Allied Insurance Co. Ltd. Rs. 3000 crores September 2021
Arohan Financials Rs. 1800 crores  September 2021
Penna Cement Rs. 1550 crores September 2021
Utkarsh Small Finance Bank Rs. 1350 crores September 2021
Fincare Small Finance Bank  Rs. 1330 crores September 2021
ESAF Small Finance Bank Ltd Rs. 998 crores September 2021
Shriram Properties Rs. 800 crores September 2021
Shri Bajrang Power & Ispat Limited Rs. 700 crores September 2021
Studds Accessories Limited Rs. 450 crores September 2021
Paras Defence Rs. 200 crores September 2021

Sansera Engineering

  • One of the leading auto component makers of India, Sansera Engineering, has received SEBI’s nod to go public.
  • This initial public offering will have a total issue size of Rs. 1282.98 crores, comprising only an offer for sale of 17,244,328 equity shares of existing stakeholders.
  • The face value of Sansera Engineering IPO is Rs. 2 per share. Its price band is Rs. 734 to Rs. 744 per share.
  • IIFL Securities Limited, Nomura Financial Advisory and Securities (India) Private Limited, and ICICI Securities Limited are the lead managers of this public offering. Link Intime India Private Limited has been appointed as the registrar of this IPO.
  • This is Sansera Engineering’s 2nd attempt to launch an IPO. Previously, they applied and received approval from SEBI in 2018, but did not see it through.

Aditya Birla Sun Life AMC

  • One of India’s leading non-banking AMCs, Aditya Birla Sun Life, has a consolidated portfolio of Rs. 2.75 lakh crore worth of assets under management (AUM) as of June 2021.
  • According to the DRHP, the IPO size will be around Rs. 3000 crores.
  • It will only conduct an offer for sale (OFS) of paid-up equity shares of 28.8 crores at face value of Rs. 5 per share.
  • Through this initial public offering, company promoters will divest a 13.6% stake. Among which Aditya Birla Capital will offload 3.6 crores, and Sun Life (India) will liquidate 28.51 lakh shares.
  • The company has employed more than lead managers for this IPO. This list includes prominent names like Axis Capital, Kotak Mahindra Capital, Citigroup Global Markets, ICICI Securities, SBI Capital Markets Limited, and more.
  • Also, KFin Technologies Private Limited is the registrar of this IPO.

Star Health and Allied Insurance Co. Ltd.

  • Star Health is a market leader among India’s private insurance providers, holding a market share of 15.8%.
  • They have filed a Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India for a public offer of Rs. 3000 crores.
  • This public offer will contain a fresh issue of Rs. 2000 crores, and an offer for sale of about 6 crore shares.
  • The objectives of this IPO are to maintain solvency levels and expand the capital base.
  • In the fiscal year of 2021, Star Health has accumulated a total gross written premium of Rs. 9348.95 crores.

Arohan Financial Services

  • The focus area of business for Arohan Financial Services depends on extending credit to the economically backward sections. Primarily in areas that lack ready access to financial services.
  • According to the DRHP, Arohan Financial Services is planning to launch an IPO of about Rs. 1800 crores.
  • It is likely to include an OFS of 27,055,893 shares and fresh issue equity shares of Rs. 850 crores.
  • As mentioned in their DRHP, Arohan Financial plans to reserve 50% of its allotted shares for Qualified Institutional Buyers, 15% for Non-Institutional Investors, and 35% for Retail Investors. Also, they will set aside 5% for their employees.
  • The company also has plans to host a pre-IPO allotment of Rs. 150 crores.

Penna Cement

  • One of the largest cement manufacturers in India, Penna Cement, has an annual production capacity of 10 million tonnes. The company has a strong presence in Southern India and in parts of Eastern India.
  • Penna Cement is launching an IPO of Rs. 1550 crores. This public offering will comprise fresh issue equity shares of Rs. 1300 crores and an offer for sale of Rs. 250 crores.
  • The face value of Penna Cement shares will be Rs. 10 per share. Its price band, however, is not announced yet.
  • Penna Cement has registered revenue of Rs. 2476 crores in FY 2020-21, and an operating profit of Rs. 480 crores. Also, the net profit for the same financial year was Rs. 152 crores.
  • Other details of this public offering, such as IPO opening, closing date and listing date, are not available yet.
  • KFin Technologies Private Limited is the registrar appointed for this IPO. Edelweiss Financial Services Limited, JM Financial Limited, ICICI Securities Limited, YES Securities (India) Limited, and Axis Capital Limited are the lead managers for this public offering.

Ruchi Soya

  • In the midst of these IPOs, Ruchi Soya is coming ahead with its FPO of Rs. 4300 crores. This follow-on offer primarily aimed to reduce Ruchi Soya’s stake in the company below 75%.
  • Patanjali bought Ruchi Soya in 2019 and relisted on stock exchanges in January 2020. Within a few months, its stocks have amplified by about 8000%.
  • Ruchi Soya is a leading FMCG company that includes 4 brands, Sunrich, Ruchi Gold, Mahakosh and Nutrela.

Utkarsh Small Finance Bank

  • Utkarsh Small Finance Bank received the green light from market regulator SEBI in June to go ahead with their IPO.
  • The tentative size of this IPO will be Rs. 1350 crores, comprising fresh issue of Rs. 750 crores, and an offer for sale of Rs. 600 crores. Current stakeholders of Utkarsh Coreinvest Ltd will divest their stake via this public offering.
  • The financial institution plans to use these funds to boost its tier-I business expansion capital.
  • They will be the 6th small finance bank to have a presence in Dalal Street.

Fincare Small Finance Bank 

  • Fincare Small Finance Bank, another prominent SFB in India, is planning to launch its IPO tentatively in September.
  • The financial institution has filed its DRHP in May with SEBI.
  • This public offering is likely to have a size of Rs. 1330 crores with an OFS of Rs. 1000 crores by the company’s promoters, and fresh issue equity shares of Rs. 330 crores.
  • The Bengaluru-based financier has a network of 528 banking outlets, 108 ATMs and 219 business correspondent outlets, providing services to customers in 16 states and 3 UTs.

ESAF Small Finance Bank Ltd

  • The Kerala-based small finance bank initially planned to go public earlier in 2021 but postponed its plans owing to the second wave of Covid-19.
  • They refiled their DRHP to go public as soon as possible. Since RBI’s mandate suggests banks that cross the Rs. 500 crore-mark needs to list their share in the local exchange within 3 years of achieving this feat.
  • As mentioned in its DRHP, the IPO size is predicted to be about Rs. 998 crores, with fresh issue equity of Rs. 800 crores, and the rest from the offer for sale by its existing stakeholders.
  • ESAF Small Finance Bank has not made available any details associated with this public offer.

Shriram Properties

  • Bengaluru-based real estate company Shriram Properties has filed a draft red herring prospectus with SEBI for its IPO.
  • This IPO is likely to be worth about Rs. 800 crores, which will include Rs. 250 crores fresh equity shares, and Rs. 550 crores in OFS.
  • The face value of Shriram Properties share is expected to be Rs. 10 per share.
  • Particulars of this IPO are yet to be available, and according to the company sources, IPO dates have not been finalised yet.
  • Axis Capital, Nomura Financial Advisory and Securities, and ICICI Securities have been appointed as lead managers of this initial public offering.

Shri Bajrang Power & Ispat Limited

  • A renowned integrated steel company, Shri Bajrang Power & Ispat Limited, has received the go-ahead from SEBI to launch an IPO of Rs. 700 crores.
  • This IPO will comprise 41,18,000 fresh issue equity shares, and their face value will be Rs. 10 per share.
  • Shri Bajrang Power & Ispat Limited will use the proceeds from this public issue to meet working capital needs and payment of existing debts.
  • Lead managers for this public offering are SBI Capital Markets Limited, IDBI Capital Markets & Securities Limited, and Equirus Capital Private Limited. Link Intime India Private Limited is the registrar of this public offering.

Studds Accessories Limited

  • A leader in the helmet and motorcycle accessories segment Studds Accessories Limited is planning an IPO in FY2022.
  • In 2018, Studds Accessories Limited sold the maximum number of two-wheeler helmets across the world.
  • The Haryana-based two-wheeler helmet and accessory manufacturer is operating on a robust financial base. According to the reports, Studds has doubled its invertor’s wealth in the grey market since March 2020. Irrespective of the economic downturn, Studds has recorded Rs. 436.94 crores in revenue.
  • According to different sources, this IPO is likely to have an issue size of Rs. 98 crores. Current stakeholders may sell about 3,939,000 equity shares.

Paras Defence

  • A segment leader in India’s defence and space research space, Paras Defence is coming with a public issue of Rs. 200 crores.
  • This offer will include fresh issue equity shares worth Rs. 120 crores, and an offer for sale of 17,24,490 shares from current stakeholders. Paras Defence is also considering a pre-IPO equity share offering of up to Rs. 35 crores.
  • The face value of Paras Defence IPO will be Rs. 10 per equity share, but the price band of this public issue has not been announced yet.
  • Proceeds from this public issue will be used to meet capital expenditure requirements.
  • Anand Rathi Advisors will be the lead managers of this IPO, and Link Intime India Private Limited will be the registrar of this public issue.

Upcoming IPOs in 2021

With a host of companies planning to make their entry in Dalal Street, this fiscal year, i.e. 2021-22, is estimated to be a year of a hassle for companies and investors. Here is a synopsis of the prominent IPOs to look forward this year –

LIC India Ltd.

  • India’s most prominent insurance company is setting up to make its Dalal Street entry before the end of this fiscal year.
  • This IPO is a part of the Indian Government’s plans to raise Rs. 1.75 lakh crores through disinvestment, which they have targeted to achieve in this financial year.
  • This IPO is likely to be the largest in the Indian market, with an estimated size of Rs. 45,000-Rs. 55,000 crores.
  • The price band of this public offering is likely to be between Rs. 400 and Rs. 600.
  • According to a report, LIC has around 69% share in India’s overall insurance sector. Additionally, about Rs. 290 crores fund base is the basis of this company’s operations.

Paytm 

  • India’s digital payment behemoth Paytm’s parent company, One97 Communications, is pondering a public issue of Rs. 16,600 crores. This public offering will aid Paytm to reach a valuation of around $25 billion.
  • This initial public offering will include an OFS and fresh issue equity shares of Rs. 8300 crores each.
  • If the issue size of Paytm IPO remains unchanged, Paytm’s IPO will be the largest public offering to date in this country, eclipsing Coal India’s Rs. 15,475 crores public issue in 2010.
  • Paytm’s share price in the grey market has a valuation of about Rs. 2500, pushing this company’s accumulated market valuation at $19 billion.

PharmEasy

  • India’s first billion-dollar online and retail medicine startup, PharmEasy, is weighing up the possibility of an IPO. It is likely to have an issue size of Rs. 3000-3700 crores.
  • PharmEasy created history last June this year by acquiring Thyrocare. They became the first startup and non-listed company to purchase a majority stake in a listed company. Thyrocare has been a leading diagnostics chain operating across the country for 25 years.
  • According to various sources, API Holding, PharmEasy’s parent company, is planning an indirect listing in the US to improve its valuation.

MedPlus

  • Another prominent pharmacy retailer of India, MedPlus Health Services, has filed its DRHP.
  • Its IPO is likely to have a valuation of about Rs. 1600 crores. It will include fresh issue equity shares worth Rs. 600 crores and an offer for sale of about Rs. 1,000 crores.
  • Funds from this public offering will be used to meet the working capital needs of its subsidiary, Optival.
  • Besides medicines, this Hyderabad-based company also deals in FMCG products.

MobiKwik

  • MobiKwik is a prominent mobile wallet service provider in India.
  • The company offers a peer-to-peer payment facility using UPI. Using this platform, one can facilitate its digital gold investment and pay bills and complete recharge.
  • With this public offering, they are planning to reach a valuation of $1 billion.
  • As mentioned in its DRHP, MobiKwik has plans to gather about Rs. 1900 crores via this public offering. It will comprise fresh issue equity shares of Rs. 1500 crores and an offer for sale of Rs. 400 crores.

Seven Islands Shipping Ltd.

  • India’s third-largest seaborne logistic company and predominantly a crude oil carrier, Seven Island Shipping Ltd., got a nod from the market regulator Securities and Exchange Board of India to move forward with its public issue.
  • They target to accumulate Rs. 600 crores through this IPO. Moreover, this public offer will include an offer for sale of Rs. 200 crores and freshly issued equity shares of Rs. 400 crores.
  • The company will utilise these funds to purchase new vessels for crude oil transportation.

Nykaa 

  • One of India’s leading beauty and wellness product retailers is planning to go public in this financial year.
  • This public offering is estimated to have a valuation of Rs. 4000 crores.
  • As of November 2020, Nykaa has reported a valuation of $1.8 billion. Following this IPO, Nykaa eyes a market valuation of $4 to 5 billion.
  • Nykaa has around 1.5 million users, generating roughly 1.7 million orders each month. The company has an excess of 1200 brands on its website and register nearly 50 million website visitors monthly.
  • Among India’s leading unicorn startups, Nykaa is the only one reporting profit.

Delhivery

  • India’s biggest supply chain and logistics company as per revenue, Delhivery. In the previous financial year, it has generated a total income of Rs. 3700 crores, eclipsing its closest competitor BlueDart by an excess of Rs. 400 crores.
  • The company is currently working on its DRHP and plans to initiate IPO proceedings by the end of this financial year.
  • This IPO is estimated to have an issue size of $400 to 500 million, pushing the company’s valuation to cross the $4 billion mark.

Medi Assist Insurance TPA Pvt. Ltd.

  • Medi Assist works as an insurance administrator, which helps insurance providers in claim settlement and documents processing.
  • As a health insurance TPA, Medi Assists will be the one of its kind to file a DRHP and enter the share market in India.
  • As per different reports, this IPO is likely to be an exclusive offer for sale issue consisting of an expected 2.8 crore shares from existing stakeholders and promoters of the company.

Anand Rathi Financial Services Ltd

  • Anand Rathi Financial Services Ltd is a leading non-banking financial service provider in India. The company operates across different segments, which includes portfolio management services, research advisory, and stocks. They also provide options to invest in insurance plans and mutual funds.
  • Anand Rathi Financial Services Ltd has filed its DRHP with SEBI, but its details are not available yet.
  • As per sources close to the organisation, around 1.2 crore shares will be available under this public issue.

 

Closed IPOs in September 2021

Vijaya Diagnostics

  • Vijaya Diagnostics IPO opened on 1 September 2021 and closed on 3 September 2021.
  • In these 3 days this public offering amassed a total subscription of 4.54 times.
  • Shares of Vijaya Diagnostics are getting listed on 14 September 2021.

Ami Organics

  • Ami Organics IPO commenced subscription on 1 September 2021 and closed on 3 September 2021.
  • It received a total subscription of 64.53 times during this period.
  • Ami Organics shares are debuting on the bourses on 14 September 2021.

Upcoming IPO in September 2021 FAQs

  1. How to stay updated with the subscription news for September 2021 IPOs?

Customers of Angel One can visit our website or mobile app to check the necessary IPOs, including subscription dates and details. They can also review issue size, price band, company financials, face value, lot size, and SWOT analysis. Visit our IPO calendar for a swift overview of the same.

  1. What is the process to apply for a forthcoming IPO in September 2021?

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

  1. How can I avail the application forms for IPOs going live in September 2021?

Application forms for public issues going live in September are available on the NSE/BSE website along with the broker’s website as well. You can also get a physical copy of it by downloading it from the website of your broker. Afterwards, you can fill it properly and submit it along with the necessary papers.

  1. What is the process of applying for IPOs via UPI?

According to the existing regulations, retail investors can take the assistance of UPI ID for their applications. However, to initiate payments using this ID, you need to connect your bank account with a UPI handle of your choice, such as Google Pay, PhonePe, and BHIM. After this, your broker or bank will send a payment mandate to confirm this transaction. You can trade once you confirm this mandate.

  1. How to understand the accumulated IPO size for September 2021?

To learn about the total IPO size for September, you can multiply the price of each stock with the total number of outstanding stocks and then add the value of an individual share.

 

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