Upcoming IPOs in September 2024: Gala Precision Engg, Bajaj Housing Finance IPO expected next month; check full list

Primary markets continue to generate a lot of buzz, with multiple companies lined up to launch initial public offerings (IPOs). On the other hand, investors' demand for new IPOs continues to remain robust, along with strong listing gains for new shares.

More than 30 companies made their market debuts in August 2024. These included 10 mainboard IPOs, such as FirstCry.Com, Ola Electric Mobility, and Unicommerce and 23 SME IPOs.

As the month of August concludes, investors are now gearing up for the upcoming public issues in September. Gala Precision Engineering is opening on September 2, the much anticipated Bajaj Housing Finance IPO is also expected early next month.

Here’s a look at all the upcoming IPOs in September

Gala Precision Engg IPO (Opening date: September 2)

Gala Precision Engineering is a leading manufacturer of precision components used in automobiles. The company’s public offer will open for subscription on September 2 and close on September 4.

The mainboard IPO is a book built issue of ₹167.93 crore. It is a combination of fresh issue of 26 lakh shares aggregating to ₹135.34 crore and an offer-for-sale (OFS) of 6 lakh shares aggregating to ₹32.59 crore.

The price band is fixed at ₹503 to ₹529 per share, with the minimum bidding quantity or lot size of 28 shares.

The allotment of shares is expected to be finalised on September 5. The stock will be listed on both Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) on September 9.

Bajaj Housing Finance IPO (Opening date: September 9)

The Bajaj Housing Finance IPO, worth ₹7,000 crore, is reported to hit the markets in early September. As per reports, the IPO could be open for subscription between September 9-11, 2024.

According to the draft red herring prospectus (DRHP) filed by the company, the IPO will consist of a fresh issue of equity shares worth ₹4,000 crore. Bajaj Finance Limited, the parent company, plans to sell shares worth ₹3,000 crore through an OFS.

Other big-ticket IPOs to watch out for

Some mega corporations are also planning to launch their IPOs soon. These companies have not made formal announcements, but markets are expecting some action in the coming weeks. These include names like LG Electronics, Hyundai, Swiggy, National Infra Trust, and the NSE.

Hyundai Motor India Ltd has filed its DRHP for a ₹25,000 crore IPO, according to reports. The public issue comprises an offer for sale (OFS) of 14.22 crore shares.

LG Electronics' global chief executive officer has also confirmed that the company is evaluating the sale of shares by its wholly-owned subsidiary in India.

Swiggy, on the other hand, had received approval by its shareholders in April to launch the IPO. The company reportedly aims to raise $1.25 billion through the issue.

The National Stock Exchange of India (NSE), too, filed a no-objection certificate (NOC) with the Securities and Exchange Board of India (SEBI) this week to seek approval of its initial public offering (IPO).

Also, the National Infrastructure Trust, which is an infrastructure investment trust sponsored by Gawar Construction Ltd, has filed its draft offer documents with the market regulator. The trust aims to raise a total of ₹1,600 crore through a public issue of units.

Jeyyam Global Foods IPO (Opening date: September 2)

Jeyyam Global Foods Ltd, formerly known as Kichoni Online Services Pvt. Ltd, is a small and medium enterprise (SME) that produces and supplies Bengali chickpeas (popularly known as ‘chana’), fried gram and besan flour.

The Jeyyam Global Foods IPO will open for subscription from September 2 to September 4. The NSE SME IPO is a book built issue worth ₹81.94 crore.

It consists of a fresh issue of 1.2 crore shares aggregating ₹73.74 crore and an OFS of 13.43 lakh shares aggregating ₹ 8.19 crores. The price band has been set at ₹59 to ₹61 per share, with a lot size of 2,000 shares.

The allotment for the Jeyyam Global Foods IPO is expected to be finalized on September 5. The stock is likely to list on the NSE Emerge platform on September 9.

IPO listings in first week of September

Baazar Style Retail Ltd

The Baazar Style Retail IPO will open for subscription on August 30 and close on September 3. The allotment of shares is expected to be finalised on September 4. Baazar Style Retail shares will be listed on BSE and NSE on September 6.

Boss Packaging Ltd

The Boss Packaging Solutions IPO opens for subscription on August 30 and closes on September 3. The allotment of shares is expected to be finalised on September 4. The stock will list on the NSE Emerge on September 6.

Archit Nuwood Industries Ltd

The Archit Nuwood Industries IPO opens for subscription on August 30 and closes on September 3. The IPO share allotment status is likely to be finalised on September 4, with listing expected on September 6 on the BSE SME platform.

Travels and Rentals Ltd

The Travels and Rentals IPO opens for subscription on August 29 and closes on September 2. Share allotment is expected to be finalised on September 3, while the listing is likely on September 5 on the BSE SME platform.