Last Updated on February 29, 2024 by BFSLTeam BFSLTeam
Investing in Initial Public Offerings (IPOs) provides investors with exciting financial prospects. Many people wait eagerly to participate in new IPOs as they get to be early investors. Launching an IPO is also an important milestone for a private company. They get to raise capital from the public by offering their shares all the while generating publicity.
Continue reading this blog to gain detailed insights about the upcoming IPOs in March 2024. Also, learn about the most anticipated IPO launches of this year that could happen.
Table of Content
List of Upcoming IPOs in March 2024
Here is the list of upcoming IPOs for this month as shown in the table below:
| Company Name | Issue Date | Price Band | DRHP Link |
| Vraj Iron and Steel Limited | Yet to be announced | Yet to be announced | https://www.sebi.gov.in/filings/public-issues/jan-2024/vraj-iron-and-steel-limited-drhp_80348.html |
| Diffusion Engineers Limited | Yet to be announced | Yet to be announced | https://www.sebi.gov.in/filings/public-issues/jan-2024/diffusion-engineers-limited-drhp_80291.html |
| Awfis Space Solutions Limited | Yet to be announced | Yet to be announced | https://www.sebi.gov.in/filings/public-issues/dec-2023/awfis-space-solutions-limited-drhp_80277.html |
| RK Swamy Limited | Yet to be announced | Yet to be announced | https://www.sebi.gov.in/filings/public-issues/nov-2023/rk-swamy-limited-addendum-to-drhp_79086.html |
| Stallion India Fluorochemicals Limited | Yet to be announced | Yet to be announced | https://www.sebi.gov.in/filings/public-issues/dec-2023/stallion-india-fluorochemicals-limited-drhp_80009.html |
| Gretex Share Broking Limited | Yet to be announced | Yet to be announced | https://www.sebi.gov.in/filings/public-issues/dec-2023/gretex-share-broking-limited-drhp_80178.html |
| Denta Water and Infra Solutions Limited | Yet to be announced | Yet to be announced | https://www.sebi.gov.in/filings/public-issues/dec-2023/denta-water-and-infra-solutions-limited-drhp_79817.html |
| Gopal Snacks Limited | Yet to be announced | Yet to be announced | https://www.sebi.gov.in/filings/public-issues/nov-2023/gopal-snacks-limited-drhp_79319.html |
| TBO Tek Limited | Yet to be announced | Yet to be announced | https://www.sebi.gov.in/filings/public-issues/nov-2023/tbo-tek-limited-drhp_79211.html |
| Shree Tirupati Balajee Agro Trading Company Limited | Yet to be announced | Yet to be announced | https://www.sebi.gov.in/filings/public-issues/jan-2024/shree-tirupati-balajee-agro-trading-company-limited-drhp_80347.html |
What Are Upcoming IPOs?
The year 2024 promises the Indian stock market to launch a list of much-awaited Initial Public Offerings. This presents a great investment opportunity for institutions and individuals. Starting from tech start-ups to established organisations, a wide range of companies have filed their Draft Red Herring Prospectus and are waiting to go public. The upcoming IPOs of 2024 include household names like Ola Electric, Swiggy, Mobikwik and more.
When any private company sells its shares for the very first time to retail investors on a stock exchange, it is Initial Public Offering (IPO). Through an IPO, the companies aim to raise capital and utilise the shares for various purposes including reducing debt, expanding business, and so on.
Thus, upcoming IPOs are those private companies planning to go public making their shares available to public investors. The launching dates of IPO may vary but the companies raise capital majorly for repayment of debts, research, and development. More importantly, early investors can avail the opportunity to liquidate their holdings through an IPO and make listing gains.
You can find the latest information on all upcoming IPOs here. Read through the DRHP of each public issue to get the important details of the companies about to go public.
Who Can Invest in the Upcoming IPOs in March 2024?
By investing in an Initial Public Offering (IPO), investors can be a part of the company’s growth from the very beginning. Alongside, they can enjoy endless opportunities in the stock market. While understanding the several opportunities IPO provides, it is necessary to understand who can invest in the IPOs.
Here is an overview of the categories of investors for IPOs, according to SEBI:
- Qualified Institutional Buyers(QIBs)
Qualified Institutional Buyers include mutual funds, public institutions, commercial banks, and foreign portfolio investors registered with SEBI. As per the SEBI regulations, institutional investors must sign a contract with a lock-in period of 90 days. This will enable investors to experience less risk throughout the IPO process.
- High Net Worth Individuals (HNIs) or Non-Institutional Investors (NIIs)
An investor willing to invest between Rs. 2 lakh to Rs. 5 lakh in an IPO is classified as an HNI. On the other hand, institutions opting to invest more than Rs. 2 lakh fall under the NII category.
- Retail Investors
Retail investors are those who invest up to Rs. 2 lakh. Companies must allocate 35% of any public issue to retail investors.
- Anchor Investors
Qualified institutional investors having assets of value more than Rs. 10 crore are classified as anchor investors. They are eligible to purchase a minimum of 60% of the shares kept reserved for QIBs.
How to Invest in Upcoming IPOs in March 2024?
Open a demat account with Bajaj Broking to make your IPO application process easier than ever. Here is a detailed guide to follow to invest in the upcoming IPOs in March 2024:
Step 1: Go to the IPO Application page and provide the mobile number.
Step 2: You will receive an OTP on your registered mobile number. Make sure to validate it.
Step 3: Choose the IPO to invest in and provide all the necessary information.
Step 4: To submit the application form, click on ‘Submit’.
Step 5: Ensure sufficient balance in your account. Open the UPI app from your registered mobile number and approve the request.
Step 6: Once you have sent approval, your amount will get blocked in your account. Otherwise, you will be refunded if you do not get the IPO shares.
List of Popular Soon-to-Launch IPOs in March 2024
The below-mentioned companies are expected to launch in the upcoming month. Some of them have already filed their DRHP while some are waiting for approval from SEBI to float an IPO.
Here is a list of the most anticipated upcoming IPOs in March 2024 in the Indian stock market:
- Ola Electric
The EV scooter maker, Ola Electric is expected to launch an IPO worth Rs. 5,500 crore this March. Backed by the SoftBank Group and Temasek, the company is set to launch one of the most eagerly awaited IPOs of 2024. Funds raised from the IPO will be used mostly for the Ola Gigafactory project along with R&D and various prepayments.
- MobiKwik
With the collaboration of SBI Capital Markets and DAM Capital Advisors, the company is planning to launch its IPO soon. It is well known as a pay-later service provider. MobiKwiK targets to raise Rs. 84 crore by 2024. The company has even helped many small and medium-sized companies to go public in India.
- First Cry
Postponing its public offerings in the previous year because of market volatility, FirstCry is planning to go public in March. The company aims to raise capital amounting to Rs. 50 crore for the public offering. This is an estimated valuation but by the time of IPO launch, the amount will be approximately Rs. 400 crore.
- Aakash
Byju’s, a prominent ed-tech firm, acquired Aakash during the period 2021 for a substantial Rs. 95 crore. Aakash is gearing up to launch its IPO soon. Since its acquisition, Aakash has experienced a threefold rise in revenue. It targeted to achieve revenue of Rs. 4,000 crore and Rs. 900 crore by the fiscal year 2023-24.
Aakash holds a prominent position in India’s test-preparation market and expects to achieve growth through its IPO.
- PhonePe
PhonePe, the groundbreaker in India’s digital payment era, is planning to launch its IPO in March. The company aims to raise capital of Rs. 1,200 crore. However, at present, PhonePe targets to raise a fund amounting to Rs. 200 crore. This expansion, coupled with growth, makes the launching of the company’s IPO an important event in 2024.
- Oyo
Oyo has delayed launching its IPO in the previous quarter. Thus, it has again submitted its Draft Red Herring Prospectus to the Securities and Exchange Board of India (SEBI). It aims to raise capital to use a significant portion for repaying debts. The company aims to raise its funds through the issuance of primary shares.
- Swiggy
Swiggy, an important player in the food delivery sector, plans to sell its shares to public investors by next month in 2024. The company holds a significant position in the food delivery market with a valuation of Rs. 107 crore. It is the biggest competitor of its rival Zomato, which showcases its position and growth in the sector. After Zomato, Swiggy will be the second-largest IPO in the food delivery segment of India.
- PharmEasy
PharmEasy is aiming to launch its IPO and is waiting for its DRHP approval from SEBI. The company has shown strong financial records over the past few years. Rajan Pai expects to acquire about 15% of the company. Upon launching its IPO, the company aims to reduce its debt repayment and enhance growth in the future.
Summing Up
By now, you must have a clear understanding of all the upcoming IPOs in March 2024. Conducting proper research and risk assessment is necessary before investing in any IPO. Every IPO can be highly volatile and their prices can fluctuate significantly.
Till these IPOs launch, make sure to go through the official websites of the above-listed companies that interest you and check their DRHPs. Opening a demat and trading account with us will make your IPO journey easier. You can also stay updated on the latest IPO-related news on this website.
Frequently Asked Questions
It is mandatory to have a demat account to hold shares of an IPO. Hence, you must open a demat account to start investing in an IPO.
You can get updates on upcoming IPOs from numerous sources such as websites of official stock exchanges, brokerage platforms or new channels. We also ensure to keep updated information.
To cancel your IPO application, you must do it within the bidding time. The process is as follows:
– Fill in the revised IPO application form and hand it over to the syndicate member
– Go to the order book for withdrawing the IPO application and then click on ‘IPO’ to cancel.
– Within two working days, your blocked amount will be released
To apply for an upcoming IPO, you must download the ASBA form. Firstly, you can procure the ASBA form in two ways. Secondly, you can download a blank form from the website of NSE or BSE and fill it out.
Before investing in an IPO, check the following factors:
– Background of the company
– Its financial performance over the last few years
– Competitive analysis of the company and industry overview
– The company’s future prospects
– Strengths, risks and threats
– Records of its management team
