Upcoming IPOs in India 2021

Twenty eight companies have already made their maiden offers till July 2021, including Zomato, Barbeque Nation Hospitality Limited, PowerGrid InVit, Comstar, PSU NBFC, IRFC and Brookfield India REIT.

After a strong performance by the IPO segment in 2020, experts and analysts are hopeful that the buoyancy will continue in the new year.

If we look at the list of upcoming IPOs in 2021, it includes nearly 31 companies from different industries, including some Indian tech-startup giants.

Upcoming IPOs in 2021

The market trends are expected to remain strong about the forthcoming IPOs. See the upcoming IPO list below:

IPO Tentative Issue Size (in Rs. Crores) Tentative Issue Date
Sansera Engineering 1282.98 14 September 2021
Ruchi Soya 4,300 September 2021
Aditya Birla Sun Life AMC  3,000 September 2021
Star Health and Allied Insurance Co. Ltd. 3,000 September 2021
Arohan Financial 1,800 September 2021
Penna Cement 1,550 September 2021
Utkarsh Small Finance Bank 1,350 September 2021
Fincare Small Finance Bank 1,330 September 2021
ESAF Small Finance Bank 998 September 2021
Shriram Properties 800 September 2021
Shri Bajrang Power and Ispat Ltd. 700 September 2021
Studds Accessories  450 September 2021
Paras Defence 200 September 2021
LIC 70,000 2022
Paytm 16,600  2021
PolicyBazaar 6,500  2021
Bajaj Energy 5,450 2021
Adani Wilmar 4,500 2021
Go Airlines 3,600 2021
Nykaa 3,500 - 4,000 2021-22
PharmEasy  3,000 - 3,700 2021
Gemini Edibles and Fats 2,500  2021
CMS Info Systems 2,000 2021
SAMHI Hotels 1,800 - 2,000 2021
MobiKwik 1,900 2021
MedPlus Health Services 1,639 2021
Ixigo  1,600 2021
Fino Payments Bank 1,330 2021
Sterlite Power 1,250 2021
Paradeep Phosphates 1,225 + OFS 2021
Supriya LIfescience Ltd.  1,200 2021
RateGain 1,200 2021
Srei Equipment Finance 1,100 2021
Apeejay Surrendra Park Hotel 1,000 2021
Inspira Enterprise India Ltd. 800 2021
Medi Assist Insurance TPA Pvt. Ltd. 850 2021
SJS Enterprises 800 2021
Keventer Agro 800  2021
Chemspec Chemicals 700 2021
Muthoot Microfin 700 2021
Fusion Micro Finance 600 + OFS 2021
Seven Islands Shipping 600 2021
Latent View Analytics 600 2021
Hinduja Leyland Finance 500 2021
VLCC Health Care 300 + OFS 2021
Harsha Engineering 370 2021
Annai Infra Developers 200-250 2021
Go Colors 125 + OFS 2021
Narmada Biochem 90 2021
Popular Vehicles and Services 150 + OFS 2021
Tarsons Products 150 + OFS 2021
Prudent Corporate Advisory Services ₹ To Be Updated 2021
Tracxn Tech ₹ To Be Updated 2021
Sapphire Foods ₹ To Be Updated 2021
Urban Company  ₹ To Be Updated 2021
Aakash Educations ₹ To Be Updated 2021
Century Metal Recycling ₹ To Be Updated 2021 
HDB Financial ₹ To Be Updated 2021
HP Adhesives ₹ To Be Updated 2021
*Both, the issue size and date, is tentative and might vary once the issue goes live in the markets.

The upcoming IPO list looks long. Here is a glimpse of all the companies that are planning to debut in the public market.

Sansera Engineering

Sansera Engineering is a leading auto-component maker in India, which is in line to go public next. This public issue will have a total valuation of Rs. 1282,98 crores, and it will contain 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. 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.

Ruchi Soya

Ruchi Soya is gearing up for a follow-on offer of Rs. 4300 crores to lower Patanjali’s share to 75% or below. Patanjali acquired the manufacturer of Nutrela soya chunks in 2019 via the insolvency court and listed on the bourses again in January 2020. Its shares climbed approximately 8000% in six months of being listed. Patanjali will dilute at least 9% of its stake in the company to comply with SEBI’s norms since it’s planning to launch its IPO by this year’s end.

Aditya Birla Sun Life

Aditya Birla Sun Life IPO, which was kept in abeyance before, received the go ahead from SEBI on 7 August 2021. The company is gearing up to float its Rs. 3,000 crore IPO and hopes to get its shares listed soon. The IPO comprises a total 3.88 crore shares, out of which there will be an OFS of 28.51 lakh shares from Aditya Birla Capital, alongside Sun Life AMC’s 3.6 crore equity shares. The IPO will likely launch in September.

Star Health

Star Health is India’s first standalone insurance provider, with an impressive roster of overseas travel, personal accident, and health policies as well as Bancassurance. In FY20, the company has underwritten premiums worth Rs.6865 crores, clocking Rs.1889 crores in net worth. Star Health filed the DRHP with market regulator, SEBI on 22 July 2021 for an IPO comprising Rs. 2000 crores in fresh issuance and 60 million offer-for-sale shares.

Arohan Financial

Arohan Financial has filed with SEBI for Rs. 1800 crore IPO. The small finance lender plans to collect Rs. 850 crores from fresh shares. The remaining comprises secondary components of 2,70,55,893 equity shares. The IPO is likely to open in August 2021. Arohan Financial specialises in offering microfinancing to the unbanked population. According to a 2020 report, they had 2.21 million active borrowers in 17 states, including twelve of India’s fourteen low-income states.

Penna Cement

Penna Cement is one of the well-known cement manufacturers of India, with an annual production capacity of 10 million tonnes. It has a strong presence in Southern and Eastern India. The company has received a get-go from SEBI to launch an IPO. This public offering will be worth Rs. 1550 crores, comprising fresh issue equity shares of Rs. 1300 crores and an OFS of Rs. 250 crores. The dates and price band of this public offering are not announced yet.

Shri Bajrang Power & Ispat Limited

Shri Bajrang Power & Ispat Limited is planning to launch a public offering of Rs. 700 crores as per the DRHP filed by the company with SEBI. This IPO will comprise 41,18,000 fresh issue equity shares at face value of Rs. 10 each share. The company will use its proceeds from this public offering to fund working capital requirements and paying current debts.

Fincare Small Finance Bank

The Bengaluru based small finance bank is eyeing an IPO size of Rs 330 crore. Starting in 2017, the bank achieved the highest growth rate between FY18 and FY20. It offers a hoard of banking products, including savings account, current account, FD, recurring deposits, NRI's FD, microloans, gold loans, loan against property, two-wheeler loan, and institutional finance.

ESAF Small Finance Bank

ESAF Small Finance Bank has filed DRHP to raise nearly Rs. 998 crores from their public offer. The offer contains Rs 800 crores of primary issues. The rest is an offer for sale from stakeholders such as Bajaj Allianz and PNB MetLife. ESAF Small Finance Bank is relatively new to the small finance segment, starting in 2016. They have grown fast in the last four years, and currently, have 400 branches and over 4000 employees. On 31st March 2019, their after-tax profit stood at Rs 111.11 crores.

Shri Bajrang Power & Ispat Limited

Shri Bajrang Power & Ispat Limited is planning to launch a public offering of Rs. 700 crores as per the DRHP filed by the company with SEBI. This IPO will comprise 41,18,000 fresh issue equity shares at face value of Rs. 10 each share. The company will use its proceeds from this public offering to fund working capital requirements and paying current debts.

MobiKwik

MobiKwik on 12 July 2021 filed a DRHP with plans to raise Rs. 1900 crores through its IPO. The offer will contain fresh share issues worth Rs. 1500 crores. It will further comprise an offer for sale worth Rs. 400 crores by promoters and select shareholders. Founded in 2009, MobiKwik is one of India’s leading digital payment companies. As per its Annual Report 2020, the company currently serves 3 million retailers and around 120 million users across India.

Paras Defence

One of the leaders in India's defence and space research segment, Paras Defence, is going public with an IPO of Rs. 200 crores. It will include equity shares of Rs. 120 crores and OFS of 17,24,490 shares from present investors. The company is also considering a pre-IPO allotment of Rs. 35 crores. The face value of Paras Defence IPO will be Rs. 10 per equity share, but its price band is not available yet. Proceeds from this public issue will be used to meet capital expenditure requirements.

Aditya Birla Sun Life AMC

Aditya Birla Sun Life AMC is ready to hit the IPO route with a Rs 1500 - 2000 crore valuation. The company is involved in offering portfolio management, offshore fund management, and alternative investment services.

Life Insurance Corporation India (LIC) Ltd.

Finance Minister, Nirmala Sitharaman cleared the roadblocks of LIC divestment, and now the largest state-owned life insurance company is set to issue initial public offering shares in 2021. Once launched, it will be the largest IPO launch in India close to a value of Rs 7,000-8,000 crores. The Union government plans to raise Rs 2.1 lakh crores from the divestment of LIC and IDBI Bank will offload around 90,000 shares of LIC.

Paytm

The Indian e-commerce payment and Fintech company plans to roll out a Rs 160 billion IPO and will file draft papers with SEBI in July. They will raise money by selling primary and secondary shares, offering an exit to its investors. The company is aiming at a post-IPO valuation of USD 24-25 billion.

PolicyBazaar

PolicyBazaar is the fifth Indian start-up that has plans to roll out its IPO in 2021. The PolicyBazaar IPO is expected to be of around Rs. 6,500 crore in size and will comprise a mix of OFS and fresh share issue. As per regulatory filings, existing investors will be able to sell their shares directly via exchanges. Founded in 2008, PolicyBazaar is a leading online life and general insurance aggregator. PolicyBazaar’s parent company PB Fintech converted itself into a public limited company to move forward with the company’s IPO.

Bajaj Energy

The IPO size of Bajaj Energy is expected to be around Rs 5,450 crores, including Rs 5,150 crores fresh shares. The company is one of the major private limited thermal power generation companies with a gross installed capacity of 2,4330 MW. The company is looking to acquire Lalitpur Power's 1980 MW plant from the funds from the proceeds. The remaining fund will be used to meet other general expenses.

Adani Wilmar

Adani Wilmar, one of the major FMCG players in the Indian market filed its DRHP with SEBI on 2 August 2021 to float its IPO. The initial public offer will comprise an issue of fresh equity shares, without any secondary issue. The company is hoping to raise Rs. 4,500 crores via its IPO. Adani Wilmar, by the year 2027, is hoping to become the largest food company in the country. It is hoping to achieve its feat by listing its shares in the public market.

Nykaa

Nykaa is one of the tech-startups eyeing the public investment route in 2021-22. Founder Falguni Nayar said to a newspaper source that Nykaa might hit the market with a Rs. 3500 - Rs. 4000 crore IPO offer. It initially planned to launch a public offer during 2020 but delayed it due to COVID-19 pandemic. The IPO will put Nykaa's valuation at $4.5 billion. Currently, the company is looking to achieve overall profitability before it hits the IPO route. It has recently raised an undisclosed amount which valued the company at USD 1.8 billion.

PharmEasy

They are an online marketplace where buyers can buy medicines from local pharmacies and book diagnostic tests. Pharm Easy has applied for an IPO size of Rs 3,000- 3,700 crore to take the company's value to USD 3 billion.

Go Airlines

The economic passenger airline plans to raise Rs 3,600 crore through a maiden public offer. They have filed necessary documents in this regard with the market regulator, SEBI.

Aditya Birla Sun Life

Aditya Birla Sun Life IPO, which was kept in abeyance before, received the go ahead from SEBI on 7 August 2021. The company is gearing up to float its Rs. 2,000 crore IPO and hopes to get its shares listed soon. The IPO comprises a total 3.88 crore shares, out of which there will be an OFS of 28.51 lakh shares from Aditya Birla Capital, alongside Sun Life AMC’s 3.6 crore equity shares. The IPO will likely launch in September.

Gemini Edibles and Fats

The manufacturer of ‘Freedom’ sunflower edible oil is all set to launch its Rs. 2500 crore IPO. The company is the second one in this particular sector that is gearing up to go public, after Adani Wilmar. The entire issue will be an offer for sale and the company will not receive any proceeds from the divestment. One of its investors, Golden Agri International Enterprises, is diluting stakes worth Rs. 750 crore in this IPO.

CMS Info Systems

One of India’s leading finance companies. CMS Info Systems Ltd. has filed an IPO comprising an offer for sale worth Rs. 2000 crore. The promoter, Sion Investment Holdings is divesting its shares. The promoter had acquired CMS Info Systems in 2015. CMS is a company involved in cash and ATM management, ATM maintenance and installation services, and more.

SAMHI Hotels

SAMHI is an asset manager and hotel owner that operates in the institutional ownership model. Courtyard and Fairfield by Marriott in Bengaluru and Four Points by Sheraton Visakhapatnam are among the 27 hotels across 12 Indian cities that the company is currently managing. The approximate IPO size of Rs 1,800-2,000 crores will contain fresh issues of Rs 1,100 crores.

MedPlus Health Services

One of the leaders in the pharma retail chain industry - MedPlus, filed its IPO with SEBI on 18 August 2021. The company is all set to raise Rs. 1639 crores via an initial share sale. The initial public offer will comprise an issue of fresh equity shares worth Rs. 600 crores, alongside an offer for sale of Rs. 1038.71 crore by its shareholders and promoters.

Ixigo

Ixigo, one of India’s leading travel booking app is planning to go public with an initial public offer of Rs. 1600 crore. Existing investors like Micromax, Elevation Capital are looking to exit partially from the company with this IPO, while one of its previous investors, MakeMyTrip has already exited. The company is aiming to raise Rs. 750 crore via an initial fundraise and Rs. 850 crore via an offer for sale as a part of this IPO.

Utkarsh Small Finance Bank

Utkarsh Small Finance Bank is a fast-growing small finance bank in the nation. They have filed with SEBI seeking approval for Rs 1,350 crore IPO, consisting of up to Rs 750 crores in primary issues and Rs 600 crores in an offer for sale.

Fincare Small Finance Bank

Another small finance bank, Fincare Small Finance Bank, had filed draft papers with SEBI in May. They are planning to mobilise Rs 1,330 crores, including Rs 330 crores in fresh shares and Rs 1000 crores in OFS. Thanks to its digital-first approach, Fincare Small Finance Bank achieved the highest growth rate between FY18 and 20 amongst the small finance banks in the country.

Fino Payments Bank

Fino Payments Bank filed its draft red herring prospectus with SEBI to float an initial public offer. The bank is looking to raise Rs. 300 crore via an initial sale of fresh equity issues, alongside an offer for sale of 15.60 million shares. The proceeds from the initial share sale will be utilised to boost its Tier 1 capital base and meet requirements in the future.

Sterlite Power

Sterlite Power Transmission, backed by billionaire Anil Agarwal has filed its DRHP with SEBI for a Rs. 1250 crore IPO. The company, founded in 2009 has 25 sold and current projects under its portfolio, spanning 13,700 circuit kilometres. The company is also considering a pre-IPO fundraising round for shares worth up to Rs. 200 crores.

Paradeep Phosphates

Paradeep Phosphates, one of India’s leading fertiliser companies has filed its draft red herring prospectus. The company’s initial public offering will comprise a fresh issue of equity shares worth Rs. 1255 crores. Zuari Agro and the Government of India are divesting their shares in the company. The offer for sale is for 120,035,800 shares, having a face value of Rs. 10 each.

Supriya LIfescience Ltd.

The company proposed to raise Rs 1200 crore in an IPO offering that will combine Rs 200 crore in primary issues and Rs 1000 crore in an offer for sale. The IPO is scheduled for FY22.

RateGain

RateGain, a SaaS based travel and hospitality services provider, filed its DRHP with SEBI to float its IPO. The tentative size of RateGain’s IPO is going to be Rs. 1200 crores, of which Rs. 400 crores will be fresh issue of equity shares and the rest will comprise and offer for sale of 2.26 crore shares. The proceeds from this IPO will be utilised to foster organic growth via integration of artificial intelligence, technology innovation and more.

Srei Equipment Finance

Kolkata-based Srei Equipment Finance offers loans for buying equipment that are used in construction and infrastructure development projects. They are looking to raise Rs 2000 crores from the IPO market.

Apeejay Surrendra Park Hotels

The hotel chain may raise Rs 1,000 crores from the market in IPO. The issue will contain fresh scrips worth Rs 400 crores and offer for sale of up to Rs 600 crores worth of shares.

Inspira Enterprise Pvt. Ltd.

Inspira Enterprise Pvt. Ltd. is looking to raise Rs. 800 crores via an IPO. This IPO will comprise an OFS of Rs. 500 crore from its existing promoters and shareholders and a Rs. 300 crore fresh issue of equity shares. The proceeds from this share will be used to fund working capital and the rest will be utilised for debt repayment.

Shriram Properties

Bengaluru-based Shriram Properties will soon join others in the public market. They have submitted papers to raise Rs 800 crores from the market, containing both fresh equities and offer for sale shares. The company dominates the south-Indian market with a presence in several cities, although Bengaluru and Chennai are its two major markets. Among other cities, they have a presence in Kolkata. The realtor builds mixed-used properties and specialises in mid-market affordable houses.

Medi Assist Insurance TPA Pvt. Ltd.

They have received approval from SEBI to float an IPO that consists of an offer for sale of 2. 80 million equity shares. It is the first time a third party insurance administrator company is issuing an initial public offering in the Indian market.

SJS Enterprises

SJS Enterprises is looking to raise Rs. 800 crores via its IPO. The company filed its DRHP with SEBI on 29 July 2021 for an initial public offer comprising an offer for sale of Rs. 688 crores. The company will not be receiving any proceeds from this offer.

Keventer Agro

Keventer Agro, a flagship of the Keventer Group, is looking to float its initial public offer. The company wants to raise about Rs. 800 crores via its IPO. After the IPO, the company’s total valuation might reach Rs. 2500 crores. Keventer Agro is one of the largest food and beverage companies in Eastern India. Its turnover is about Rs. 1000 crores.

Chemspec Chemicals

Chemspec Chemicals announced a Rs. 700 crore IPO on 15 July 2021 in an effort to boost its brand image and enhance its visibility in the market. Its IPO will consist of a pure sale offer by its existing promoters and shareholders. The company is one of the country’s most renowned manufacturers of critical additives in FMCG products. It generated a revenue of Rs. 505.91 crores in the FY2021, while its net profits stood at Rs. 81.08 crores.

Muthoot Microfin IPO

The company is one of the fastest-growing NBFC-MFI and the fifth largest in the nation. They focus on providing micro, sustainability loans to women in the rural sectors. According to a CRISIL report, they had 1.2 million active borrowers in FY18. Their IPO will contain both fresh issues and offered shares from promoters.

Fusion Microfinance

Fusion Microfinance, one of India’s banks in the microlending sector is looking to raise more than Rs. 600 crores via an initial public offer. The Warburg Pincus backed financial lender has filed its IPO papers with SEBI to raise Rs. 600 crores through fresh equity shares, alongside an OFS from its existing promoters and shareholders.

Seven Islands Shipping

Seven Islands Shipping, operational since 2003 in the segment of cargo shipping for crude oil, is the third-largest seaborne logistic company in India in terms of deadweight tonnage. They manage a fleet of twenty vessels with a total deadweight capacity of 1,105,682 metric ton.

Latent View Analytics

Latent View Analytics, a start up engaged in providing data analytics related services is gearing up to launch its IPO late in 2021. The company has filed its DRHP with SEBI, with its initial share sale comprising fresh equity shares worth Rs. 474 crores, alongside an offer for sale. Proceeds from this IPO will be utilised to fund working capital of its subsidiaries, bolster inorganic growth and increase its capital base.

Hinduja Leyland Finance

It is the financing arm of the commercial vehicle market Ashok Leyland. HLF is looking to raise around Rs 500-700 crores from the IPO market. The offer containing both primary and secondary components will find its way to the market in the near to mid-term.

Studds Accessories

The company manufactures helmets, motorcycle accessories and riding gears. In 2020 the company had approximately 30 percent market share. It aims to increase its portion to 40 percent in the next three years.

VLCC Health Care

One of India’s largest homegrown beauty and wellness brands, VLCC Health Care is all set to launch its IPO. The company filed its DRHP with SEBI in August 2021 and is looking to raise Rs. 300 crores via fresh equity shares, alongside an OFS from its existing shareholders and promoters. Proceeds from this IPO will be utilised to set up wellness centres across India and in the Gulf Cooperation Council region.

Harsha Engineering

Harsha Engineering is the most significant player in its domain in making bearing cages occupying 50 percent of the market share in India. Harsha Engineering enjoys a 5-6 percent share in the global market in the segment of organised brass, steel, and polyamide cages. They are looking to raise Rs 370 crores in fresh issues and will also release 1,325,000 shares in secondary components.

Annai Infra Development

The company operates in areas of engineering, procurement and construction of water management and irrigation segments. The approximate IPO size is Rs 200-250 crores.

Go Colors

Go Colors, one of the subsidiaries of Go Fashion (India) has filed a draft red herring prospectus with SEBI to raise funds via an IPO. The company’s IPO will comprise a fresh issue share worth Rs. 125 crores alongside an offer for sale of 12.88 million shares by its existing promoters and shareholders. The proceeds from this IPO will primarily be utilised to establish 120 new brand outlets by FY2023.

Narmada Biochem

They are producers of a wide variety of chemical and organic fertilisers. Over the years, the company has expanded its operation and product base and enjoys leadership positions in several product segments. Their IPO will be a combination of both primary and offer for sale shares.

Popular Vehicles and Services

One of the leading companies engaged in automotive dealerships, Popular Vehicles and Services, is looking to raise funds via its IPO. The initial public offer will comprise issuance of equity shares worth Rs. 150 crores and an Offer for Sale of 4,266,666 shares. The company will utilise the proceeds from this IPO to repay its existing debts.

Tarsons Products Ltd.

Tarsons Products Ltd. one of the leading life sciences companies in India is looking to raise funds via an IPO. Its DRHP says that the IPO will comprise sale of fresh equity shares worth Rs. 150 crores and an offer for sale of 13.20 million shares. The firm is engaged in the production of a range of laboratory equipment.

Sansera Engineering

Sansera Engineering’s IPO will comprise only an offer for sale of 17,244,328 shares by existing promoters and shareholders. This is the company’s second attempt to get listed. Sansera had earlier filed a DRHP with SEBI in 2018. The issue size of the IPO is unknown.

Prudent Corporate Advisory Services

One of India’s renowned mutual fund distributors, Prudent Corporate Advisory Services, is looking to launch its IPO in the latter half of 2021. The IPO will comprise an offer for sale of 8,549,340 shares, at a face value of Rs. 5 each. The offer will also include a reservation for purchase by Prudent Corporate’s eligible employees.

Tracxn Tech

Tracxn Technologies has filed a DRHP with SEBI to float its IPO. While the date for the IPO is still unknown, it will most likely take place in the latter half of 2021. The IPO will comprise an OFS of 38,672,208 shares by existing shareholders and promoters. The company is a SaaS based market intelligence provider.

Sapphire Foods

After Devyani International, Sapphire Foods, an operator of Pizza Hut and KFC outlets, is all set to launch its IPO. The IPO will be entirely an offer for sale of 17,569,741 shares. The company is one of the largest franchisees of Yum! Brands and is backed by several renowned marquee investors.

Urban Company

Urban Company is a gig marketplace organising blue-collar jobs helping customers find a wide range of services from beauty and salon, home improvement, home cleaning, and more. The company's Co-founder, Abhiraj Singh Bhal, recently said that an IPO is a near possibility for their company.

Aakash Educations IPO

Aakash Educational Services provides comprehensive test preparatory services to students appearing for the 12th board exam and other competitive exams. They also offer foundation courses to students between class 8 and 10. The first centre was formed in 1988, and in 2018 Aakash Education was operating in 103 cities through 170 classroom centres.

Century Metal Recycling IPO

CMR commenced its business in 2006, and from the beginning, it maintained high paced growth by leveraging the latest technology. It is the largest in the nation producing aluminium and zinc die-cast alloys with a combined capacity of 218,000 metric tonnes.

HDB Financial IPO

The non-banking financial arm of HDFC Bank enjoys a robust market valuation due to the strong backing of HDFC Group, which owns a 95.1 percent stake in the business. They have decided to watch the market amid rising cases of COVID-19 before floating the IPO.

HP Adhesives

HP Adhesives is the leading producer of solvent cement in Asia. Overall, it offers nearly 25 products, primarily catering to the real estate sector. The company filed its DRHP with SEBI recently for an IPO comprising approximately 41.40 lakh fresh shares and 457200 offer-on-sale shares.

Recent IPOs in 2021

IPO Issue Size (in Rs. Crores) Price Band Issue Date Lot Size
Vijaya Diagnostic ₹1895.04 Cr ₹522 - 531 1-Sept-2021 28
Ami Organics ₹569.64 ₹603 - 610 1-Sept-2021 24
Devyani International ₹1,838 Cr ₹86 - 90 4-Aug-2021 165
Krsnaa Diagnostics ₹1,213.33 Cr ₹933 - 954 4-Aug-2021 15
Windlas Biotech Pvt. Ltd. ₹401.54 Cr ₹448 - 460 4-Aug-2021 30
Exxaro Tiles ₹161.09 Cr ₹118 - 120 4-Aug-2021 125
Rolex Rings ₹731.00 Cr ₹880 - 900 28-July-2021 16
Glenmark Lifescience ₹1,200 Cr ₹695 - 720 27-July-2021 20
Tatva Chintan ₹500 Cr ₹1073 - ₹1083 16- July- 21 13
Zomato ₹9,375 Cr ₹72 - ₹76 14- July- 21 195
Clean Science and Technology Ltd. ₹ 1,546 Cr ₹ 800-900  7- July-21 16
G R Infraprojects Ltd. ₹ 963.28 Cr ₹828-837  7- July-21 17
India Pesticides ₹800 Cr ₹296 23-June-21 59
KIMS Hospitals Ltd. ₹2,413 Cr ₹825 16-June-21 18
Dodla Dairy Ltd. ₹520.18 ₹428 16-June-21 35
Sona Comstar ₹5,550 Cr ₹285-291 14-June-21 51
Shyam Metallics ₹909 Cr ₹303-306 14-June-21 45
Power Grid InvIT ₹7,734.99 Cr ₹99 - ₹100 29-April-21 1100
Macrotech Developers Limited ₹ 2,500 Cr ₹483 - ₹486 07-Apr-21 30
Barbeque Nation Hospitality Limited ₹ 452 Cr - ₹ 453 Cr ₹498 - ₹500 24-Mar-21 30
Nazara Technologies Limited ₹ 582 Cr - ₹ 583 Cr ₹1100  -₹1101 17-Mar-21 13
Suryoday Small Finance Bank Ltd ₹577 Cr - ₹581 Cr ₹303 - ₹305 17-Mar-21 49
Kalyan Jewellers ₹ 1,175 Cr ₹86 -  ₹87 16-Mar-21 172
Craftsman Automation Limited ₹823 Cr - ₹824 Cr ₹1488 - ₹1490 15-Mar-21 10
Laxmi Organics ₹600 Cr ₹129 - ₹130 15-Mar-21 115
Anupam Rasayan ₹760 Cr ₹553 - ₹555 12-Mar-21 27
Easy Trip Planners Limited ₹510 Cr ₹186 - ₹187 08-Mar-21 80
MTAR Technologies ₹595 Cr - ₹596 Cr ₹574 - ₹575 03-Mar-21 26
Heranba Industries ₹625.24 Cr ₹626 - ₹627 23-Feb-21 23
RailTel Corporation Of India Limited ₹ 811 Cr - ₹ 819 Cr ₹93 - ₹94 16-Feb-21 155
Nureca Limited ₹ 100 Cr ₹396 - ₹400 15-Feb-21 35
Brookfield India REIT ₹3,800.00 Cr ₹274 - ₹275 03-Feb-21 200
Stove Kraft Limited ₹ 411.80 Cr - ₹ 412.63 Cr ₹ 384 - ₹385 25-Jan-21 38
Home First Finance Company India ₹1,153.72 Crore ₹517 - ₹518 21-Jan-21 28
Indigo Paints Limited ₹1,168 Cr - ₹1,169 Cr ₹1488 - ₹1490 20-Jan-21 10
Indian Railway Finance Corporation ₹ 4,455 Cr - ₹ 4,633 Cr ₹25 - ₹26 18-Jan-21 575

Vijaya Diagnostic

Vijaya Diagnostic IPO opened on 1 September 2021 and was subscribed 4.54x on its closing day. The company had filed initial preliminary papers with SEBI on 7 June 2021 to raise funds via an initial public offering. Even though early forecasts for this IPO looked promising, Vijaya Diagnostic made a tepid debut on Dalal Street. Vijaya is a healthcare service centre based out of Hyderabad. The company runs 80 diagnostic centres in 13 cities across India, alongside 11 reference laboratories.

Ami Organics

Ami Organics develops over 250 intermediates for active pharmaceutical ingredients (APIs). The company’s IPO opened on 1 September 2021 and closed on 3 September 2021. During these 3 days, Ami Organics IPO was oversubscribed by 64.54 times.

Devyani International

Devyani International IPO opened on 4 August and closed on 6 August 2021. During this time it received total bids for 13,13,79,21,555 shares, as compared to 11,25,69,719 shares on offer. Devyani International Ltd. is the largest franchisee of Pizza Hut, KFC, and Costa Coffee and also the biggest Indian quick-service restaurant company to register on the Swiggy platform. The company was looking to raise up to Rs. 1838 crores via its IPO.

Krsnaa Diagnostics

Pune-based Krsnaa Diagnostics is the largest diagnostic service provider in India, leading in Pathology and Radiology. It presently operates across 14 Indian states such as Maharashtra, Rajasthan, Madhya Pradesh, Andhra Pradesh, and Tamil Nadu. The company’s IPO opened on 4 August and closed on 6 August 2021. During this time, the IPO received bids for 69,83,95,230 shares over the 71,12,099 shares that were on offer. On the last day of its bidding, Krsnaa Diagnostics IPo was subscribed 98.2 times on the last day of its IPO.

Windlas Biotech Pvt. Ltd.

The Windlas Biotech IPO which opened on 4 August 2021 was fully subscribed on the very first day it opened for offer. The company received 22.47x bids for its shares on offer. The company had also received Rs. 120.46 crores from its anchor investors before its issue opened. Windlas Biotech is among the top five operatives in the pharmaceutical formulations contract development and manufacturing organisations (CSMO) segment.

Exxaro Tiles

The Exxaro Tiles IPO, which opened on 4 August 2021 received tremendous response on the very first day and was fully subscribed within a few hours. As per data available on the exchanges, the company received bids for 25.96 crore shares, against its 1.14 crores shares on offer. Exxaro’s IPO marked the first public offer in the ceramics industry in a span of 10 years.

Rolex Rings

Rolex Rings’ Rs. 731 crore IPO opened on 28 July 2021 and received bids amounting to 74,16,00,096 shares against 56,85,556 shares that were on offer. The company is expected to get listed on 11 August 2021. Rolex RIngs is regarded as one of the top 5 foreign companies operating in India. It’s engaged in automotive component manufacturing, offering an assorted roster of products. It serves the commercial vehicle, passenger car, two-wheeler, industrial machinery, and railway segments, among others.

Glenmark Lifesciences IPO

The IPO contained primary issues of Rs 1,160 crores and another part of 7.31 million OFS shares from parent Glenmark.  The IPO opened on 27 July 2021 and closed on 29 July 2021. The IPO was subscribed nearly 45 times. They are a leader in producing active pharmaceutical ingredients (API). In 2019 and 2020, revenue from API production was 84.16 and 89.87 percent, respectively.

Tatva Chintan Pharma IPO

Tatva Chintan Pharma Chem Limited closed its initial public offering on 20 July 2021, after being subscribed 180.36 times. The offer comprised issue of fresh equity shares amounting to Rs. 225 crores and an offer for sale worth Rs. 275 crores. This chemical manufacturing company is one of the largest Indian manufacturers of SDAs for zeolites. It exports to more than 25 countries globally, including China, the USA, South Africa, the UK, and Germany. In FY2020, exports accounted for 76% of its total revenue.

Zomato IPO

Zomato floated its Rs 9,375 crore IPO on 14 July 2021. The subscription window remained open until July 16, 2021. During this period, Zomato IPO was subscribed 38.25 times. Zomato operates in India and 24 other countries, including Sri Lanka, Slovakia, and South Africa, reaching nearly 10,000 cities. Along with Swiggy, Zomato owns a significant share in India's online food delivery segment.

Clean Science and Technology Ltd. IPO

Clean Science is involved in producing specialty chemical products using in-house technology that is eco-friendly and cost-effective. Their IPO, which opened on 7 July  for three days, received 93.41 times subscription on the final day.

G R Infraprojects Ltd. IPO

G R Infraprojects Ltd. IPO opened on 7 July 2021. It was a pure offer for sale issue of 1,15,08,704 equity shares to offer exit to current promoters and shareholders. The offer was oversubscribed in all categories and received 102.58 times subscription in total.

Indian Pesticides IPO

The agro-chemical technical company launched its IPO on 23 June 2021, closing two days later on 25 June. Indian Pesticides IPO was subscribed 29.04 times during this window. Indian Pesticides is one of the fastest growing companies in its sector in India in terms of volume in FY 20. Indian Pesticide is the sole producer of formulations like folpet and thiocarbamate herbicide in India (among the top five globally).

KIMS Hospitals IPO

KIMS Hospitals IPO, with an issue size of Rs. 825 crores, was open for subscription between 16 June 16 and 18 June. It was subscribed 3.86 times during this period. KIMS is a multi-specialty, multi-disciplinary corporate healthcare group operating in Telangana. It offers specialty and super-specialty treatment in 25 branches of healthcare with a focus on tier- 1, 2, and 3 cities with nine hospitals under its brand.

Dodla Dairy IPO

Dodla Dairy, a leading player in the dairy segment, made an impressive debut with its IPO on 16 June 2021. Its shares started trading at Rs. 550 on the NSE, which was 28.50% higher than Rs. 428, its initial issue price. The company’s Rs. 520 crore IPO was subscribed 45.61 times. According to a CRISIL report, Dodla Dairy was the second-largest private player in the industry in December 2020 regarding daily raw milk procurement.

Sona Comstar IPO

Sona Comstar’s Rs. 5,500 crore IPO was subscribed 2.28 times after bidding started on 14 June 2021. Following this, the company got listed under both BSE and NSE on 24 June 2021 and managed to make a lukewarm debut. Sona Constar’s scrip noted a 3.92% and 3.44% increase over its issue price on BSE and NSE, respectively. The company is a leader in auto component manufacturing, catering to the global EV market. It produces highly engineered, mission-critical components and supplies to OEM manufacturers in the US, Europe, China, and India.

Shyam Metalics and Energy IPO

Shyam Metallics rolled out an IPO issue of Rs. 909 crore on 14 June 2021, and was subscribed 121 times, during the 2-day bidding period. It then proceeded to make a decent debut on both NSE and BSE, with the scrip getting listed at 24.28% and 19.93% over the issue price, respectively. The company proposes to use the proceeds from the offer to repay debt and meet general corporate expenses.

PowerGrid Infrastructure Investment Trust InvIT IPO

Powergrid Corporation of India, belonging to the 'Maharatna' category, is a PSU responsible for constructing, managing, and distributing power supply across the nation. They are the largest power transmission company in India. Powergrid launched Invit IPO to raise capital funding to finance its infrastructure projects. The offer was subscribed 4.83 times in the retail segment in April 2021.

Macrotech Developers (Lodha Developers) Limited IPO

The Rs 2,500 crore IPO from Lodha received 1.4 times subscription on the last day. Macrotech released its issues in the price band of Rs 483-486.

Barbeque Nation Hospitality Limited IPO

Barbeque Nation IPO is backed by the heavyweight Rakesh Jhunjhunwala. The Rs. 453 crore IPO had equity shares priced at Rs.498-Rs.500 with a market lot of 30 shares. It received 5.98 times subscription on the last day.

Nazara Technologies IPO

Nazara Technologies IPO received 175.46 times subscription, making it the second most successful IPO launch in 2021 after MTAR Technologies IPO. Investors oversubscribed in all three segments of qualified institutional buyers, non-institutional investors, and retail.

Suryoday Small Finance Bank IPO

Suryoday Small Finance Bank is operative in Maharashtra, Gujarat, Madhya Pradesh, Tamil Nadu, Delhi, Karnataka and some union territories. It plans to launch an IPO  worth Rs 400 crores containing two crores equity shares (1.6 crores in fresh equities and rest in OFS shares).

Kalyan Jewellers IPO

Known jewellery brand Kalyan Jewellers said it is planning to raise Rs 1,750 crores from the market through IPO. The offer will contain both fresh shares and offer for sales scrips from the current promoters. Founded in 1993, the brand has 137 showrooms spread in India and Gulf countries.

Craftsman Automation IPO

The auto component manufacturer's IPO offer will contain fresh issues worth Rs 150 crores and 45.21 lakh shares in OFS.

Laxmi Organic Industries IPO

The IPO size is Rs 800 crores, containing Rs 500 crores of fresh issues and remaining OFS shares. Laxmi Organics is a specialty chemicals company. Its peers Rossari Biotech and Chemcon Specialty made stock exchange debut in 2020, and both were oversubscribed 80 and 149 times respectively.

Anupam Rasayan IPO

The Indian IPO market saw another successful launch with Anupam Rasayan IPO that hit the market in March and was subscribed 31 times. The company is engaged in cotton synthesis and specialty chemicals production with two business verticals - life science-related specialty chemicals and other specialty chemicals.

Easy Trip Planners IPO

Easy Trip Planners' IPO received a whopping 159 times subscription in its three day subscription period. Easy Trip Planners is the second largest online travel agent in the nation regarding gross revenue earning. The agency offers a host of services related to ticket booking, hotel booking, holiday planning, packages, bus tickets, cab booking, and value-added services like travel insurance.

MTAR Technologies IPO

MTAR Technologies is a leader in the precision engineering industry, involved in producing mission-critical precision components. The public market debutant made a solid listing with a healthy oversubscription of 200.79x.

Heranba Industries IPO

Heranba Industries launched a Rs 625 crores IPO in the price range of Rs 626-627 to increase its post-issue implied market capital to Rs 2,505-2,509 crore. Gujarat based Heranba Technologies produces crop protection chemicals with clear market leadership in developing synthetic pyrethroids, like cypermethrin, deltamethrin, and lambda-cyhalothrin.

Railtel Ltd. IPO

RailTel plans to raise Rs 700 crores from the market by divesting 8.66 crores offer for sale shares. The company is one of the Mini Ratna companies involved in providing network and infrastructure services to railways.

Nureca Limited IPO

Operating in the space of wellness and healthcare, Nureca is one of the fastest-growing business in the domain. The IPO was subscribed 39.93 times and received 166.65 times subscription in the retail segment.

Brookfield India REIT IPO

Brookfield REIT, backed by Canadian alternative investment company Brookfield Asset Management, gained 2.4 percent listing gain against its issue price of Rs 275. The offer received 7.94x subscriptions on debut.

Stove Kraft Limited IPO

Kitchen appliance manufacturer and supplier Stove Kraft's IPO gained 21 percent on the listing. The IPOs were launched in the price band of Rs 385 and debuted in BSE at Rs 467, pegging the company's market capitalisation value to Rs 1,429 crore.

Home First Finance Company IPO

Mortgage financier Home First Finance raised Rs 1,153.72 crores in IPO by launching its shares in the price band of Rs 517 and Rs 518. The company targets first time home buyers in the middle and low-income group sections in the urban areas. It has a strong presence in Maharashtra, Gujarat, Karnataka and some other states of India.

Indigo Paints IPO

Sequoia Capital backed Indigo Paints IPO opened  on January 20, containing fresh scrips and OFS shares from promoters and investors. The issue size was Rs 1,176 crores with fresh issues worth Rs 300 crores.

Indian Railway Finance Corporation (IRFC) IPO

The fifth of the railway companies launched IPO offers as the first company in 2021. The Union government decided to divest five of the railway companies in 2017. The proceeds from the IPO, comprising fresh issues worth 118.8 crores and OFS, will help bolster the capital base to meet the railways' borrowing requirements in the future.

IPO Performance

IPO in 2020: At a Glance

Over the last few years, the Indian IPO segment has gained prominence as a robust, emerging marketplace. 2020 particularly proved to be a good year for companies launching IPOs despite being a pandemic hit year.

Several IPOs launched during 2020 received massive oversubscription. Mrs Bectors IPO, the last IPO of 2020, received a whopping 198 times subscription and around 15 companies hauled south of Rs 25,000 crores during the year.

Company Issue Size (in Rs. Crores) Price Band IPO Date Lot Size
Antony Waste Handling Cell Limited ₹ 300 Crore  ₹ 313 - ₹ 315 21-Dec-20 50 
Mrs. Bectors Food Specialities Limited ₹ 540.54 Cr  ₹ 286 - ₹ 288 15-Dec-20 50 
Burger King India Limited ₹ 804 Cr - ₹ 810 Cr ₹ 59 - ₹ 60  02-Dec-20  250
Gland Pharma ₹ 6,445 Cr To ₹ 6,480 Cr  ₹ 1490 - ₹ 1500 09-Nov-20 10 
Equitas Small Finance Bank ₹ 510 Crore To ₹ 518 Crore  ₹ 32 - ₹ 33 20-Oct-20 450 
UTI AMC ₹ 2152 Crore To 2160 Crore   ₹ 552 - ₹ 554 29-Sep-20 27
Mazagaon Dock ₹ 413 Crore To 444 Crore  ₹ 135 -  ₹ 145 29-Sep-20 103 
Computer Age Management Services (CAMS) ₹ 2,244.33 Crore  ₹ 1229 -  ₹ 1230 21-Sep-20  12
Chemcon Speciality Chemicals Ltd. ₹ 317 Crore To 318 Crore ₹ 338 -  ₹ 340  21-Sep-20 44 
Route Mobile Limited ₹ 600 Crore ₹ 345 - ₹ 350  09-Sep-20 40 
Happiest Minds Technologies ₹ 698 - 702 Cr  ₹ 165 - ₹ 166 07-Sep-20  90
Mindspace Business Parks REIT ₹ 4,500 Cr. ₹ 274 - ₹ 275  27-Jul-20 200 
Rossari Biotech Limited ₹ 494 - 496cr ₹ 423 - ₹ 425  13-Jul-20 35 
SBI Cards And Payment Services Ltd. ₹ 10,340.79 Cr  ₹ 750 - ₹ 755 02-Mar-20 19 

It won't be wrong to mention that COVID-19 outbreak put a temporary damper in Indian IPO performance. There was four months-long dry spell between April and June when there were no IPO launches. Several companies during this time also delayed their plans to enter the market. However, once lockdown restrictions were lifted, the market picked up fast. The strong turnaround gave hope to companies and investors, which resulted in heavy participation in some of the offers.

The Conclusion

The market is showing strong trends of recovery as COVID-19 vaccine has hit the market. More companies will try to catch the tide when investor sentiment is up, and the market is buoyant with high liquidity.

Around 30 companies are expected to go public in 2021. The above list contains names of some of those. However, it is a list of tentative IPOs and possibly will change as new updates will come. We suggest you keep visiting the page from time to time for more information on upcoming IPOs.

However, before investing in any IPO, always read the prospectus carefully and run due diligence to weigh the pros and cons of the offer.

FAQs on upcoming IPOs

How can one apply in upcoming IPOs online?

The online process is a simplified one to apply for IPOs. Investors can apply from the website or mobile app of stockbrokers, using UPI as a payment option.
Log in to the console and enter required and UPI handle details before placing the bid. All IPO application is supported by ASBA or Application Supported by Blocked Amount, which allows the bank to block the amount for the bid value until the IPO.

Where do I get an application form for an Upcoming IPO?

You need to download the ASBA form to apply for the IPO. There are two ways to get ASBA form – a form provided by the broker you apply through. And secondly, downloading a blank form from the NSE or BSE website.

What do you mean by IPO funding?

IPO funding is a loan offered by NBFCs to retail investors, high net worth individuals, and corporate entities to apply for initial public offerings. The applicant pays only a small amount as margin; the lender funds the rest.

Can I revise or cancel my IPO application?

Investors can modify or cancel an application within the bidding period. Here is the process to follow.
  • The investor has to fill in a revision form to modify the application and give it to the syndicate member.
  • To withdraw IPO application, go to the order book and select the IPO to cancel. The bank will release the blocked amount within two working days.
  • What is IPO Issue Size?

    The IPO size refers to the total monetary value of the IPO, calculated by multiplying the total number of shares by the price per share.

    How to Subscribe to an IPO?

    To apply from Angel One page
  • Log in to the console and select IPO from the list
  • Select IPO you want to apply from the dropdown
  • Enter UPI id and click submit to place your bid
  • You will receive a payment mandate in your UPI id. Make the payment
  • To complete the process, click on the checkbox that suggests you have read and understood the RHP before applying
  • How to check an IPO Start Date?

    Investors can track upcoming IPO dates on the websites of BSE and NSE. The stock exchanges publish a list of IPO listing date vide notice which indicates the dates when an IPO becomes available for trading.

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