Upcoming IPOs in April 2024: Public issues to watch out for next month

After a hectic month of March, the IPO lane will again be busy in the first month of the new financial year 2024-25. Several mainboard and SME IPOs are up for subscription by investors.

Let’s take a look into public issues already launched last week or set to be launched next month.

Bharti Hexacom Ltd IPO

Bharti Hexacom Ltd, a subsidiary of telecom giant Bharti Airtel Ltd offering services in Rajasthan and North Eastern states, will launch its public offer on April 3. Bharti Hexacom Ltd IPO subscription window will close on April 5.

The ₹4,275-crore public offer is entirely an offer for sale (OFS) of 7.5 crore shares.

Bharti Hexacom Ltd IPO price band has been fixed at ₹542 to ₹570 per share, with a minimum lot size for an application at 26 shares. The basis of the allotment of shares is likely to be finalised on April 8. Bharti Hexacom shares will be listed on BSE and NSE with the tentative listing date fixed as April 12.

Under the IPO, not more than 75% of the net issue is reserved for qualified institutional buyers and not more than 10% for retail buyers. The company has allocated not more than 15% of the net issue for non-institutional investors.

Bharti Airtel Ltd, which is the promoter of Bharti Hexacom Ltd, holds 70% stake in the company.

SRM Contractors IPO likely to list on April 3

SRM Contractors IPO which received strong demand from investors is likely to list on Wednesday 3 April. ₹130 crore IPO was subscribed over 86 times.

Besides this, several SME IPOs are lined up for listing in April first week. Vishwas Agri Seeds, Naman In-Store (India), GConnect Logitech and Supply Chain and others.

SME IPOs closing for subscription in April first week

There are many other public offers that will close for subscription in the first week of April, including SME IPOs. These IPOs provide investment opportunities across a diverse range of sectors, like telecom, cybersecurity, in-store radio services, and engineering and construction.

SME public issues Tac Infosec Ltd, Yash Optics and Lens Ltd, and Radiowalla Network Ltd opened their IPO bidding window on March 27 and will conclude the subscription phase on April 3, 2024.

K2 Infragen Ltd, another NSE SME IPO, was launched on March 28 and is scheduled to close for subscription on April 3. Creative Graphics Solutions India Ltd and Aluwind Architectural Ltd IPOs opened on March 28 and will end on April 4. Jay Kailash Namkeen Ltd IPO opened for subscription on March 28 and will close on April 3.

Most awaited IPOs of 2024

Ola Electric IPO: The IPO will comprise a fresh issue of up to ₹5,500 crore and an offer for sale (OFS) of over 95 crore equity shares at a face value of ₹10 each. Ola Electric founder Bhavish Aggarwal is expected to sell 47.4 million shares, as per draft papers submitted last year.

Tata Play IPO: Last year, the Tata Play public issue was postponed. However, reports suggest that the Tata Group may revive its IPO plans once market conditions become favourable.

Allied Blenders and Distillers: Mumbai-based liquor making company plans to raise ₹1,500 crore from its public issue. The IPO will be a mix of fresh issue and an offer for sale. The company mainly generates its revenue from whisky segment.

Conclusion

These upcoming public offers span a wide range of sectors and both mainboard, and small and medium enterprises (SMEs). However, investors need to exercise caution and conduct thorough research before making any investment decisions.

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