2021 turned out to be quite an advantageous year for the primary markets. Last year, we saw 65 Initial Public Offerings (IPOs), raising more than Rs. 2 lakh crores. It has been estimated that more than a million investors took part in the IPO rally of 2021.
Talking about 2022, the wave of IPO doesn’t seem to cease or take a pause anytime soon. Several IPOs are coming up in the remaining months of 2022 and are expected to hit a bull’s eye.
If you are considering putting your money, here is a list of upcoming IPOs in India 2022 that you can consider.
Upcoming IPOs in 2022
Here is a comprehensive upcoming IPO list to look out for:
| Upcoming IPO in 2022 | Tentative Dates |
| Mobikwik | 2022 |
| Emcure Pharmaceuticals Limited | 2022 |
| Go First (Go Airlines) India | 2022 |
| Wellness Forever Medicare | 2022 |
| Navi Technologies | 2022 |
| Boat IPO | 2022 |
| Ebixcash | 2022 |
| Oyo | 2022 |
| FabIndia | 2022 |
| Bharat FIH Limited | 2022 |
| Bikaji Foods International Limited | 2022 |
| Snapdeal Limited | 2022 |
| Utkarsh Small Finance Bank | 2022 |
| Harsha Engineers | 2022 |
| Insolation Energy Limited | 2022 |
| Aadhar Housing Finance Ltd. | 2022 |
MobiKwiK
MobiKwiK is one of the largest Fintech companies in India and has established itself as a noteworthy mobile wallet player. This corporation filed its IPO back in July 2021. It will be an amalgamation of Offer for Sale (OFS) by chosen shareholders and promoters, which will be worth Rs. 400 crores, and equity share issues, worth Rs. 1500 crores. Thus, overall, the issue size will be Rs. 1900 crores. The company is aiming for a valuation of $1 billion (approximately). The qualified institutional buyers will be assigned 75% of the entire IPO shares. On the other hand, retail investors and non-institutional buyers will get 10% and 15%, respectively.
Objectives
Following are the objectives that this company is trying to accomplish:
- Repaying or prepaying the outstanding borrowings of the company; either partially or fully
- Addressing corporate objectives
- Meeting inorganic or organic initiatives of growth
Emcure Pharmaceuticals Limited
Emcure Pharmaceuticals was established in 1983 and produces and sells a wide range of pharmaceutical goods worldwide. To raise money through an IPO, it has submitted its drafts red herring prospectus (DRHP) to the Securities Exchange Board of India (SEBI) (initial public offering). Through this IPO, the company hopes to raise 4,000 crore.
Following are the objectives that this company is trying to accomplish:
Objectives:
- Repaying, either whole or part of the borrowings, which stood at ₹ 1,712 crore as of 31 March 2021.
- General corporate purposes
Go First (Go Airlines) India
The well-known low-cost carrier Go Airlines wants to raise $3,600 billion through its first public offering. Each share will have a face value of 10 rupees.
For its first public offering, Go Airlines has submitted paperwork to SEBI.
Following are the objectives that this company is trying to accomplish:
Objectives:
- Fully or partially paying the fuel supply debt owed to Indian Oil Corporation
- Paying for general business purposes
Wellness Forever Medicare
After Hyderabad-based MedPlus filed its DRHP in August, wellness -Forever Medicare pharmacy chain with headquarters in Mumbai is the second pharmacy chain to do so. IIFL Securities Ltd, Ambit Private Ltd, DAM Capital Advisors Ltd, and HDFC Bank Limited are the book-running lead managers for this issuance.
Following are the objectives that this company is trying to accomplish:
Objectives:
- Need Funds to setup new outlets
- Some Money in crores set for Repayment and Paying debts
- Fund required to accomplish for working capital
Navi Technologies Limited
Navi Technologies business stated that it wants to raise money for general corporate reasons as well as investments in its subsidiaries Navi Finserv Pvt. Ltd. and Navi General Insurance Ltd. It is suggested that the net proceeds be used in 2023.
Following are the objectives that this company is trying to accomplish:
Objectives:
- Fund required to accomplish for working capital
- For General and corporate purposes
Boat Electronics
Boat electronics comopany offer for sale of Rs. 1,100 crore and a fresh issue of Rs. 900 crore would both be included in the Rs. 2,000 crore IPO. The company's founder and promoter is well-known and takes part in Shark Tank and other well-linked in other areas.
Following are the objectives that this company is trying to accomplish:
- New issue of 9,000 million, of which 7,000 million will be utilised for the company's general corporate purposes.
- Remaining 3,000 million for the repayment and payback of certain debts.
Ebixcash
A leader in several of the primary industries it operates in, EBIXCASH Limited is a technology-enabled provider of digital goods and services in the B2C, B2B, and financial technology sectors.
Following are the objectives that this company is trying to accomplish:
- Funding the working capital requirements
- The remaining funds would be utilised for general corporate activities, including strategic initiatives.
Oyo
Oravel Stays Ltd, often known as OYO, was established in 2013 and has submitted a DRHP to SEBI on September 30, 2020, for an IPO valued Rs. 8,430 crore.
Following are the objectives that this company is trying to accomplish:
- Funding the working capital requirements
- Prepaying or repaying debt incurred by subsidiaries
FabIndia
With an emphasis on the fundamental values of "Celebrating India" and "Healthy Conscious Living," the company's brands "Fabindia" and "Organic India" are well known in India.
Following are the objectives that this company is trying to accomplish:
- Up to 25,050,543 equity shares are being offered for sale, and the selling shareholder would receive all of the proceeds.
- Funding the working capital requirements
- Prepaying or repaying debt incurred by subsidiaries
Bharat FIH Limited
With a market revenue share of almost 15% and more than double the revenue of the second-biggest EMS provider in the nation in 2021, Bharat FIH is the largest EMS provider in India.
Following are the objectives that this company is trying to accomplish:
- Funding the working capital requirements and activities
- The remaining funds would be utilised for general corporate activities, including strategic initiatives and acquisition.
Bikaji Foods International Limited
In the production and promotion of genuine Indian snacks and sweets, Bikaji has become a world leader. Bikaji sold goods to 35 nations in the six months that ended on September 30, 2021.
Following are the objectives that this company is trying to accomplish:
- Wants to take benefits from Listing gains and used for growth in Working capitals
Snapdeal Limited
A roughly Rs. 1,250 crore initial public offering has been filed by Snapdeal Ltd. A fresh issue for Rs. 1,250 crore and an offer to sell up to 30,769,600 equity shares are included in this transaction.
Following are the objectives that this company is trying to accomplish:
- Fund required to accomplish for working capital
- For General and corporate purposes
Utkarsh Small Finance Bank
Utkarsh Small Finance Bank offers microfinance options to unserved or underserved segments, specifically those in Uttar Pradesh and Bihar. The primary objective of this bank is to raise money for enhancements. The bank covers 179 districts in semi-urban and rural areas. Along with that, it is spread across 18 states. The bank has filed papers of Rs. 1350 crores IPO with the market regulator. The IPO will give a sale offer of Rs. 600 crores and will have a fresh issue of shares worth Rs. 750 crores. This IPO will get listed on both NSE and BSE. Primarily, the bank is reserving 75% of the IPO shares of qualified institutional buyers, 10% for retail investors, and 15% for non-institutional investors.
Objectives
Following are the objectives that this company is trying to accomplish:
- Augmenting tier 1 capital base to accomplish future capital needs and requirements
Harsha Engineers
Harsha Engineers is one of the largest bearing cages manufacturers and holds approximately 50% of the market share in India. Moreover, it accounts for nearly 5-6% of the market share in the segment of polyamide, brass, and steel-bearing cages. The company supplies products to more than 25 countries, covering up to five continents as well, such as Africa, South America, Asia, Europe, and North America. The Harsha Engineers IPO will combine OFS of 13,25,000 shares and freshly issued shares of Rs. 370 crores.
Objectives
Following are the objectives that this company is trying to accomplish:
- Scheduled repayment or pre-payment of a part of the existing borrowing that the company has availed
- Funding the requirements of capital expenditure toward the machinery purchase
- Infrastructure renovation and repairs of the existing production facilities, including the office space
- General corporate objectives
Insolation Energy Limited
Insolation Energy Limited was established in 2015 and is engaged in manufacturing solar panels and modules of various sizes with high efficiency. Along with manufacturing solar PV modules, Insolation Energy Ltd. Also trades in Solar Power Conditioning Unit (PCU) that uses power and solar energy from the grid. The IPO of this company is fixed and will be opening on September 26. It will close by September 29. This one is a BSE SME IPO looking forward to raising Rs. 22.16 crores. The entire amount will be dedicated to the fresh issue of shares. Also, 50% of the entire IPO will be allocated to retail investors.
Objectives
Following are the objectives that this company is trying to accomplish:
- Raising funds for the working capital requirements
- General corporate objectives
Aadhar Housing Finance Ltd.
Another upcoming IPO in India is Aadhar Housing Finance Ltd. This company was founded in 1990 in Karnataka. As per the CRISIL report, the company was the largest affordable Housing Finance Company (HFC) as of FY20 pertaining to Assets Under Management (AUM). Aadhar Housing features an extensive range of products, including loans to buy and construct commercial property, home extension loans, home improvement loans, and more. As far as the Aadhar Housing IPO is concerned, the entire issue size aggregates up to Rs. 7300 crores, making it one of India’s biggest IPOs. The fresh issue of shares will be approximately Rs. 1500 crores, and the left-out Rs. 5800 crores will go to the company’s promoter – BCP TOPCO VII PTE. LTD., in the form of OFS.
Objectives
Following are the objectives that this company is trying to accomplish:
- Meeting future capital needs and requirements
What are the documents required to apply for an IPO?
Now that you think you are ready to apply for an IPO, you must keep a few things in mind. Here is the list of documents required to apply for IPO in India that you must have:
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Permanent Account Number (PAN)
A permanent Account Number (PAN) is mandatory, irrespective of how you are investing your money in the share market. However, keep in mind that having a PAN card is not enough. You must have it linked with your bank account as well.
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Demat Account
This is a necessity to invest in IPOs. A Demat account is where all your purchased shares will get stored after they have been allotted to you.
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Trading Account
It is compulsory to have a trading account before you apply for an upcoming IPO. You can easily open this account with any of the SEBI-certified depository participants.
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Bank Account
If you don’t have a bank account yet, you must get it opened as it is required to pay for the applied shares. Once you have been allotted the shares, the specific amount gets debited from your account automatically.
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UPI ID
If you have an existing UPI ID that is linked to your bank account, you can use it effortlessly. If not, you will have to create a new UPI ID and connect it with your account.
How to subscribe for an upcoming IPO?
There are two different but straightforward ways to complete an IPO subscription, which are as follows:
Applying for an IPO Through a Broker
If you are registered with a broker, you can easily apply for the IPO through their site or mobile app. However, if you are not registered with any broker, you can choose one and sign up on their platform. Follow these steps to do so:
- Log into your account
- Look for the IPO option and visit the current IPO section
- Choose the IPO that you wish to subscribe to from the list
- Type in the number of stocks or the lot size that you wish to bid for
- Choose the bid price
- Enter your UPI ID and submit the request
- Approve the transaction on the UPI app, and the bid will get approved
- Wait until you get the mandate notification in your UPI app
Keep in mind that the money will stay blocked until the allotment date of the IPO.
Applying for an IPO Through Internet Banking
Another method to take the upcoming IPO subscription is through internet banking. Follow these steps to complete the process:
- Log into your bank account through internet banking username and password
- Search for the Application Supported by Blocked Amount (ASBA) option and click it
- Choose Apply IPO option and select the IPO you wish to subscribe
- Add your name as per the PAN, bid quantity, and price. Click submit
If you subscribe before 2 PM on a working day, your bid will get accepted the same day. But, if you do so after 2 PM, the request will get scheduled for the next working day.
Applying for an IPO Offline
If you are dubious about subscribing to IPO online, you can also choose the offline method. You will have to visit the nearest bank or broking firm’s branch to apply.
- There, you will have to fill out an ASBA application form and give important KYC details.
- Then, the amount will get blocked from your account and will be debited after the allotment of shares is complete.
How to apply for an upcoming IPO through Upstox?
If you wish to apply for an upcoming IPO through Upstox, here is a step-by-step guide to doing so.
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If you are using the old Upstox app
These steps are for those who are using an older version of the Upstox app:
- Log into the Upstox app with your user ID and password
- To verify the account, enter your birth year
- From the navigation bar at the bottom, visit the ‘Invest’ tab, and from the IPO section, click the ‘View ongoing IPOs’
- Choose the IPO you wish to subscribe to and click the ‘Details’ option
- Navigate through the company’s information before subscribing to the IPO
- At the bottom of the screen, you will find a ‘Place Bid’ option; click there
- Add your UPI ID and click ‘Continue’
- Put the bid amount and lot size and click ‘Continue’
- Confirm your order
- You will get a UPI mandate from the bank, accept it, and you are done
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If you are using the updated Upstox app
These steps are for those who are using the updated version of the Upstox app:
- Log into the Upstox app through your biometrics or the 6-digit PIN
- From the navigation bar available at the bottom, visit the ‘Discover’ tab and click ‘Invest in IPO’
- You will now see the entire list of ongoing IPOs
- Click the IPO you wish to subscribe to
- If you wish to get more information about the company, either click ‘Timeline’ or ‘Overview’
- Click ‘Apply’ to subscribe to the chosen IPO
- An IPO application page will open where you will have to fill in the required details
- Once done, click ‘Continue’ to proceed
- Put in your UPI ID and click ‘Confirm’
- If you wish to see the status of your application, click the ‘Status’ option on the same screen, and a message stating UPI mandate payment pending will appear
- Accept the mandate, and you are done
Frequently Asked Questions (FAQS)
What is the best upcoming IPO to buy?
The list of best upcoming IPO is undoubtedly not a short one. You can refer to the options mentioned above. However, suppose you are still looking for something more. In that case, you have a list that includes Go Airlines, Arohan Financial, MobiKwiK, Utkarsh Small Finance Bank, Ixigo, Penna Cement, Keventer Agro, Sterlite Power, Fincare Small Finance Bank, and many more.
What are currently Listed IPOs?
Now that you have the list of upcoming IPO, you must also look at currently listed IPO to track the trend and understand how they are performing. So, this list includes a gamut of names, such as Maks Energy Solutions India Ltd., Kandarp Digi Smart BPO Ltd., Annapurna Swadisht Ltd., Varanium Cloud Ltd., Tamilnad Mercantile Bank Ltd., Dreamfolks Services Ltd., Syrma SGS Technology Ltd., Aether Industries, eMudhra Ltd., and ETHOS.
What are the upcoming IPOs in September month?
The list of upcoming IPO in September month includes Virtuoso Optoelectronics Ltd., Infurnia Holdings Ltd., Tamilnad Mercantile Bank Ltd., Mega Flex Plastics Ltd., and Viviana Power Tech Ltd.
What are the upcoming IPOs in October month?
If you are looking forward to investing your money in the upcoming IPO in October month, you will have options like OYO Ltd., and MobikWik .
What are the upcoming IPOs in November month?
As far as upcoming IPOs in November are concerned, you get options like Droom, ESAF Small Finance Bank, Arohan Financials, FabIndia, and Studds Accessories.
What are the upcoming IPOs in December month?
The upcoming IPO in December month are Go Airlines, OYO, Emcure Pharmaceuticals, PharmEasy, and boAt Electronics.
What to watch out for before investing in an IPO?
A few things that should be on your IPO watch list are reading the red herring prospectus, finding out the reasons that the company has mentioned to raise funds, understanding the company’s business model, analysing the backgrounds of the management and the promoter, evaluating the strengths and weaknesses of the company, discovering the valuation of the company, looking at the health of the company, and comparing the company with its competitors.
How much time will it take to get IPO refund?
Once the IPO registrar has completed the allotments, it takes between 3-10 business days to get the IPO refund.
Can we revise the IPO application?
You get to cancel or modify your IPO application within the given bidding period. If you wish to make revisions, you will have to fill out a form and submit it to the syndicate member. If you wish to withdraw the application, you can do so from the app where you subscribed earlier .