Upcoming IPOs in March 2024

Initial Public Offerings (IPOs) continue to be one of the most anticipated events in the financial market, offering investors an opportunity to participate in the growth stories of promising companies. As we step into March 2024, the IPO market is buzzing with excitement as several companies gear up to go public. These IPOs represent a diverse range of sectors, from telecommunications to food processing, promising ample opportunities for investors seeking to diversify their portfolios and capitalise on emerging trends.

List of upcoming IPOs in March 2024

Below is a comprehensive list of the upcoming IPOs scheduled for March 2024, along with essential details to help investors make informed decisions:

1. Exicom Tele-Systems
   Exicom Tele-Systems, a leading player in the telecommunications sector, is set to launch its IPO in March 2024. The company is known for its innovative solutions and robust infrastructure catering to the ever-evolving needs of the telecom industry.
2. Bharat Highways InvIT
   Bharat Highways InvIT is poised to enter the market with its IPO, offering investors an opportunity to participate in India's infrastructure growth story. As an Infrastructure Investment Trust (InvIT), Bharat Highways aims to unlock value from its portfolio of highway assets.
3. Mukka Proteins
   Mukka Proteins, a prominent player in the food processing industry, is gearing up for its IPO launch. With a focus on quality and innovation, Mukka Proteins is well positioned to capitalise on the growing demand for protein-rich food products.
4. R K SWAMY
   R K SWAMY, a renowned name in the advertising and marketing sector, is set to make its debut in the stock market with an IPO. The company's diverse portfolio of services and strong client base make it an attractive investment opportunity.
5. JG Chemicals
   JG Chemicals, a leading manufacturer of speciality chemicals, is all set to go public with its IPO. With a focus on research and development, JG Chemicals aims to leverage its technical expertise to drive growth and expansion.
6. Gopal Snacks
   Gopal Snacks, a well-known name in the snacks industry, is gearing up for its IPO launch in March 2024. The company's diverse product portfolio and extensive distribution network position it as a promising investment opportunity in the FMCG sector.
7. Krystal Integrated
   Krystal Integrated, a player in the logistics and supply chain management sector, is set to make its market debut with an IPO. With a focus on efficiency and reliability, Krystal Integrated aims to capitalise on the growing demand for logistics solutions.
8. Allied Blenders and Distillers
   Allied Blenders and Distillers, a major player in the alcoholic beverages industry, is ready to tap into the capital markets with its IPO. With a portfolio of popular brands and a strong distribution network, the company presents an enticing investment opportunity.

Forthcoming IPOs in 2024

Related terms of upcoming IPOs

Here are some key terms related to Initial Public Offerings (IPOs), along with explanations:

1. Abridged prospectus: A condensed version of the main IPO prospectus that includes basic features of the IPO issue. It is required for companies filing for an IPO to attach the abridged prospectus with the application form under relevant regulations.
2. Draft Red Herring Prospectus (DRHP): An offer document issued by the company with regulatory authorities before the IPO process begins. It provides comprehensive information about the company's objectives for the issue, as well as operational and financial details.
3. Anchor investors: Institutional buyers, such as banks, financial institutions, and mutual funds, who apply for shares worth a substantial amount (usually Rs 10 crores or more) within the Qualified Institutional Buyer (QIB) category. A portion of the IPO issue size is reserved for anchor investors.
4. Stockbroker: Entities that act as intermediaries allowing investors to buy and sell shares or apply for IPOs. They facilitate investment services and trading processes, including account opening.
5. Bid lot: The minimum number of shares an investor must apply for in an IPO, is determined by the company. Investors can apply for multiple lots.
6. Fixed price/book building: Methods through which a company can issue an IPO. Under the fixed price method, the company announces a specific price for its IPO beforehand. In the book building method, a price range is set, and the final price is determined based on investor demand.
7. Floor price: The minimum bid price that an investor can choose while applying for an IPO. It represents the lower limit of the price band set by the company.
8. Issue price: The price at which shares are finally allotted to applicants after the IPO issue closes. The issue price may vary for different investor categories.
9. Cut off price: The lowest price at which shares are allotted to investors, typically reserved for retail investors. If an investor bids higher than the cut-off price, the excess amount is refunded.
10. Oversubscribed/undersubscribed: If the number of applications received for an IPO exceeds the offered shares, the issue is oversubscribed. Conversely, if the number of applications is lower than the offered shares, the issue is undersubscribed.

Understanding these key terms is crucial for investors interested in participating in IPOs and navigating the complexities of the IPO process.

What are upcoming IPOs?

As we step into 2024, the Indian market continues its growth trajectory, particularly in the realm of initial public offerings (IPOs).

An Initial Public Offering (IPO) occurs when a private company offers its shares to the public for the first time on a stock exchange. This process enables companies to raise capital for various purposes such as acquisitions, expansion, or debt repayment. Upcoming IPOs refer to companies that have already filed their Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) and are preparing to launch their IPOs in the coming month or so.

Staying informed about these upcoming offerings is crucial for investors to plan their IPO investments effectively and make well-informed decisions. It is advisable for potential investors to thoroughly review the DRHP of any upcoming IPO they are interested in, as this official document contains comprehensive details about the company and its offering.

Who can invest in the upcoming IPO in March 2024?

The capital markets regulator, SEBI, has delineated four distinct categories of investors eligible to participate in IPOs:

• Retail Investors: Retail investors can invest up to Rs. 2 lakh in any new IPO. Companies are mandated to allocate a minimum of 35% of the shares for retail investors.
• Anchor Investors: These are qualified institutional investors (QIIs) with assets exceeding Rs. 10 crore, who can purchase up to 60% of the shares reserved for QIIs in upcoming IPOs.
• Qualified Institutional Investors (QIIs): Institutional investors, including mutual funds, public institutions, commercial banks, and registered foreign portfolio investors (FPIs) with SEBI, are eligible to invest in IPOs. They must sign contracts with a lock-in period of 90 days.
• Non-Institutional Investors (NIIs) or High Net Worth Individuals (HNIs): High-net-worth individuals can invest between Rs. 2 lakh and Rs. 5 lakh in an IPO. Non-institutional investors can invest more than Rs. 2 lakh in an IPO if they choose to do so.

How to invest in an upcoming IPO in March 2024?

Here is a step-by-step guide for investors looking to participate in upcoming IPOs in March 2024:

Step 1: Visit the IPO application page on mobile app and enter your client code.

Step 2: Validate the OTP (One-time password) sent to your registered mobile number.

Step 3: Select the desired IPO and enter all necessary information as prompted.

Step 4: Click on 'Submit' to finalise and submit your application.

Step 5: Ensure that there are sufficient funds available in your account. Open the UPI (Unified payments interface) app from your registered mobile number and approve the request.

Step 6: Upon approval, the requisite amount will be deducted from your account. If approval is not granted, the amount will remain unblocked in your bank account.

Conclusion

The upcoming IPOs in March 2024 present a diverse array of investment opportunities across various sectors. From telecommunications to food processing, these companies offer investors a chance to participate in India's growth story and capitalise on emerging trends. However, as with any investment decision, thorough research, and due diligence are imperative to make informed choices and maximise returns. As the IPO market heats up, investors should stay vigilant and seize the opportunities that align with their investment objectives and risk appetite.