Last Updated on January 30, 2024 by BFSLTeam BFSLTeam
When a company opens a portion of its shares for retail investors to invest in, it goes public with a process called Initial Public Offering or IPO. To launch an IPO, a company first hires a team of underwriters to prepare a Draft Red Herring Prospectus or DRHP. This document is then sent to SEBI for approval to issue an IPO. The companies that have just filed their DRHP with SEBI or are still awaiting its approval are referred to as upcoming IPO. As an interested investor, you must conduct a thorough research and comparative study on IPOs before investing in one.
To help with your research, this blog will take you through some sector-wise upcoming IPOs in 2024.
Table of Content
List of Sector-wise Upcoming IPOs in 2024
The tables below will take you through the upcoming IPOs for the year 2024.
Financial Sector
| Company | IPO Open Date | IPO Closing Date | Price Band |
| Go Digit General Insurance Limited | Yet to be announced | Yet to be announced | – |
| Arohan Financial Services | – | – | – |
| Fincare Small Finance Bank | – | – | – |
| Navi Technologies | – | – | – |
| MobiKwik | – | – | – |
| PayU India | – | – | – |
| PhonePe | – | – | – |
Healthcare
| Company | IPO Open Date | IPO Closing Date | Price Band |
| PharmEasy | – | – | – |
| Medi Assist Healthcare Services Limited | 15th Jan 2024 | 17th Jan 2024 | ₹397 to ₹418 per share |
Garments and Apparel
| Company | IPO Open Date | IPO Closing Date | Price Band |
| FirstCRY | Yet to be announced | Yet to be announced | Yet to be announced |
| Shoora Designs Limited | – | – | – |
| FabIndia | – | – | – |
| Brainbees Solutions Limited | – | – | – |
| Saraswati Saree Depot Limited | – | – | – |
Iron and Steel
| Company | IPO Open Date | IPO Closing Date | Price Band |
| Vraj Iron and Steel Limited | Yet to be announced | Yet to be announced | Yet to be announced |
| Vibhor Steel Tubes Limited | – | – | – |
Engineering and Construction
| Company | IPO Open Date | IPO Closing Date | Price Band |
| Dee Development Engineers Limited | Yet to be announced | Yet to be announced | Yet to be announced |
| SRM Contractors Limited | – | – | – |
| Diffusion Engineers Limited | – | – | – |
| Denta Water and Infra Solutions Limited | – | – | – |
Power and Renewables
| Company | IPO Open Date | IPO Closing Date | Price Band |
| Rays Power Infra Limited | Yet to be announced | Yet to be announced | Yet to be announced |
| Waaree Energies Limited | – | – | – |
| Exicom Tele-Systems Limited | – | – | – |
| Ola Electric Mobility Limited | – | – | – |
Agriculture
| Company | IPO Open Date | IPO Closing Date | Price Band |
| Indo Farm Equipment Limited | Yet to be announced | Yet to be announced | Yet to be announced |
| Sanstar Limited | – | – | – |
Hospitality and Real Estate
| Company | IPO Open Date | IPO Closing Date | Price Band |
| Arkade Developers Limited | Yet to be announced | Yet to be announced | Yet to be announced |
| Apeejay Surrendra Park Hotels Limited | – | – | – |
| Juniper Hotels Limited | – | – | – |
Logistics
| Company | IPO Open Date | IPO Closing Date | Price Band |
| CJ Darcl Logistics Limited | Yet to be announced | Yet to be announced | Yet to be announced |
| Western Carriers (India) Limited | – | – | – |
Chemicals
| Company | IPO Open Date | IPO Closing Date | Price Band |
| Shiva Pharmachem Limited | Yet to be announced | Yet to be announced | Yet to be announced |
| Stallion India Fluorochemicals Limited | – | – | – |
| Kronox Lab Sciences Limited | – | – | – |
Who Can Invest in Upcoming IPO 2024?
As per mandate by SEBI, investors belonging to the following categories can invest in upcoming IPOs in India.
Retail Investors
Individuals who can invest up to Rs. 2 lakh are retail investors. IPO issuing companies must allot 35% of their public issues to retail investors. SEBI also requires companies to issue at least 1 share to retail investors in case of oversubscription of shares.
Qualified Institutional Investors
Mutual funds, commercial banks, foreign portfolio investors and public institutions are categorised under Qualified Institutional Investors or QII. According to SEBI, companies must sign an agreement with these institutional investors that locks their funds for 90 days.
Anchor Investors
QIIs applying for IPO who hold assets worth Rs. 10 crore and more are anchor investors. These investors can buy 60% of the shares allotted for QII investors.
Non-Institutional Investors or High Net Worth Individuals
SEBI categorises an investor as High Net Worth investors who opt to invest between Rs. 2 lakh to Rs. 5 lakh in IPO. Whereas, Non-Institutional Investors are those who invest above Rs. 2 lakh.
How to Invest in Upcoming IPO?
You can follow the simple steps below to start your investment journey with the sector-wise upcoming IPO in 2024.
Step 1: Open our trading platform and navigate to our IPO section.
Step 2: You will notice a list of IPOs, click on ‘Apply Now’ next to the IPO of your choice.
Step 3: A form will appear; here, you must enter basic details along with your desired lot size and price for the shares.
Step 4: Click on ‘Submit’ to confirm your IPO investment.
List of Upcoming IPOs in 2024
The points below will take you through a brief knowledge of some of the sector-wise upcoming IPOs in 2024.
Financial sector
- PhonePe
Walmart-owned PhonePe is planning to go public this year. Owing to this company’s strategic diversification among customers as a popular digital payment system, this company expects a positive demand for its upcoming IPO in 2024.
- Go Digit General Insurance Limited
Go Digit aims to offer a transparent, simplified and innovative experience while buying insurance policies. The company is among the leading full-stack and technology-based insurance companies that provide non-life insurance policies. Go Digit is offering equity shares worth Rs. 12,500 million as a fresh issue and up to 109,445,561 shares as an Offer for Sale.
- MobiKwik
One MobiKwik is India’s one of the largest buy now and pay later (BNPL) platforms and mobile wallets today. As a technology-first company, it relies on machine learning and big data analytics to cater to customer needs.
Healthcare Sector
- PharmEasy
Under the parent company, API Holdings, PharmEasy is one of the India’s top digital healthcare platform. PharmEasy works as an end-to-end business platform that provides digital tools and information to customers on health and illnesses, and offers diagnosis and radiology tests, teleconsultations and treatment protocols.
Garments and Apparel Sector
- FabIndia
FabIndia is an established lifestyle platform that focuses on delivering an omnichannel experience to its customers across India with 309 outlets. This company offers varied lifestyle products of lifestyle, garment, apparel and accessories, home and personal care category. FabIndia will soon launch a fresh issue worth Rs. 5,000 million and 25,050,543 shares as an offer for sale.
- FirstCRY
FirstCRY, a subsidiary of BrainBees Solution Limited is a multi-channel retail platform for mothers, babies and kid’s products. Launched in 2010, this company is a one-stop solution for all kinds of parenting needs for soon-to-be moms and new parents. This company is soon going public with a fresh issue worth up to Rs. 18,160 million and 54,391,592 equity shares as OFS.
Things to Consider While Investing in an IPO
Consider keeping the following points in mind as you venture ahead to invest in the upcoming IPO in 2024.
Draft Red Herring Prospectus
Draft Red Herring Prospectus is a document that companies prepare with the help of underwriters. It consists of every detail about the company that you must know before investing in its IPO. You can rely on the authenticity of this document to get accurate details on the company’s business model, finances, liabilities, litigations and other stats.
Strengths, Risks and Opportunities
While studying the DRHP, consider paying special attention to the strengths, weaknesses, external threats and opportunities that can affect the company’s business for better or worse. These factors will let you know how much potential that company’s stocks might hold in the forthcoming days.
Reason for the IPO Launch
To invest in an IPO, you must first know for what purpose the company is planning to raise capital. This gives a rough idea about the present financial conditions of the company and its plans that can boost its stock values. Also, if you find that the company’s objective to launch an IPO aligns with that of yours, you can go ahead with the investment.
Your Investment Horizon
This is one of the most important points you must consider while investing in an upcoming IPO in 2024. As all equity and equity-related instruments are subject to market risks, IPO investments are also not free from the same. Therefore, as an investor, you must have a high-risk appetite and a long-term investment horizon before investing.
Company Background
Before you choose an IPO, you must also have a clear idea about the company. This includes knowing its products and services, business model, global presence, management, etc. These points will provide an outline of how this company is thriving in present market conditions and its scope for a better future.
Summing up
To conclude, consider keeping the following points in mind while devising an investment strategy for sector-wise upcoming IPO in 2024. If you are a novice investor, consider seeking assistance from financial experts to know which upcoming IPO will be suitable for your finances.
Moreover, you can also open a demat and trading account with us to start your investment journey with an IPO.
Frequently Asked Question
You can subscribe to an IPO online using ASBA or UPI.
To increase your chances for IPO allotment, you can apply through multiple demat accounts, consider applying before the IPO closes and place a bid close to the upper price band. If the company has a parent company, you can first buy shares for the parent company and then apply for ‘shareholders’ allocation to increase your chances.
You can find the opening and closing dates on the websites of BSE and NSE for upcoming IPOs of 2024. We also update the details of upcoming IPOs on our portal, therefore, you can also keep checking our trading platform as well.
As per SEBI’s guidelines, you must have a demat account to invest in any IPO.
