Upcoming IPOs in December 2024: Vishal Mega Mart, Gemological Institute among 10 companies aim to raise ₹20,000 crore; check list

Upcoming IPOs in December 2024: The last month of 2024, December, is expected to be vibrant for the primary market as at least ten companies, including Blackstone-owned diamond grading firm International Gemological Institute (India) and supermart chain Vishal Mega Mart, are anticipated to raise ₹20,000 crore collectively.

Packaging equipment maker Mamata Machinery and infrastructure turnkey solutions provider Transrail Lighting will also come up with their IPOs next month.

The companies are expected to raise ₹20,000 crore combined, including fresh issues and offers for sale.

Upcoming IPOs in December 2024 (Expected): Check list

• International Gemological Institute IPO
• Vishal Mega Mart IPO
• Sai Life Sciences IPO
• Avanse Financial Services IPO
• DAM Capital Advisors IPO
• Paras Healthcare IPO
• Mamata Machinery IPO
• Transrail Lighting IPO

While the IPOs raised record funds in 2024, some recent offers have struggled in the secondary market due to a bearish run amid weak Q2 results and geopolitical conditions.

The firms are taking the primary market route to offer an exit opportunity to existing shareholders, generate funds for expansion plans, clear debt, and meet working capital requirements.

Vishal Mega Mart IPO

The ₹8,000 crore IPO of Vishal Mega Mart will be completely an offer-for-sale (OFS) of equity shares by promoter Samayat Services LLP. As per the updated draft red herring prospectus (DRHP), there will be no fresh issue component.

International Gemological Institute IPO

DRHP showed that Gemmological Institute intends to raise ₹4,000 crore through the fresh issuance of shares worth ₹1,250 crore and an OFS of 2,750 crore.

Avanse Financial Services IPO

Avanse Financial Services's ₹3,500 crore issue is a mix of fresh issue and OFS. The funds generated will increase the company's capital base for future needs.