Are you looking for upcoming IPO in India in 2024? By investing in IPO, you can avail the opportunity to become an early bird investor that benefits from the company’s listing gains. Over the years, the demand for investing in IPOs has increased considerably in India. As a result, companies are able to raise huge amounts of capital and invest in their growth. This, in turn, raises shareholders’ returns.
Continue reading to gain detailed insights into the upcoming IPO in February 2024 and delve into the exciting landscape of IPOs. 2024 doesn’t only mark a new year but rather a gateway for unlocking future possibilities.
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List of Upcoming IPO in February 2024
Here is the list of upcoming IPO in February 2024 as shown in the table below:
Additional Read: IPO Investment Strategy
What Are Upcoming IPO?
The Indian market continues with its journey of growth focusing on public offerings as we enter into 2024. The previous year, 2023, has played an important role in the IPO sector as 57 mainboard IPO were launched, the second-highest in a decade. This has set the stage ahead for investors in 2024.
When any private company sells its shares for the first time to the public on a stock exchange, the process is known as Initial Public Offering (IPO). This way, companies can raise capital for acquisitions, growth or repaying of debts. Upcoming IPO are the companies that have already filed their draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) and are waiting to launch their IPOs in the coming month or so.
You can find detailed information on upcoming IPOs on related websites, news channels, investment platforms and others. Stay informed about the latest upcoming IPOs on our site. This will help you in planning your IPO investments properly and make a more informed decision.
If an upcoming IPO interests you, be sure to check its DRHP (draft red herring prospectus). This official document filed with SEBI contains all relevant details of the company you want to invest in.
Who Can Invest in the Upcoming IPO in February 2024?
The capital markets regulator, SEBI allows four different categories of investors for IPO:
Retail Investors
Retail investors are eligible to invest up to Rs. 2 lakh in any new IPO. The companies must allocate a minimum of 35% for retail investors.
Anchor Investors
Anchor investors who are qualified institutional investors with assets over Rs. 10 crore to invest in upcoming IPOs. They can buy up to 60% of the shares reserved for QIIs.
Qualified Institutional Investors (QIIs)
To invest in an IPO, institutional investors must sign a contract with a lock-in period of 90 days. The qualified institutional investors include mutual funds, public institutions, commercial banks and foreign portfolio investors registered with SEBI.
Non-Institutional Investors (NIIs) or High Net Worth Individuals (HNIs)
A high-net-worth individual can invest between Rs. 2 lakh and Rs. 5 lakh in an IPO. On the other hand, non-institutional investors can invest more than Rs. 2 lakh in the IPO if they are willing to invest.
Additional Read: IPO Guide For Beginners
How to Invest in Upcoming IPO in February 2024?
Here is a detailed step-by-step procedure that allows investors to invest in the upcoming IPO in February 2024:
Step 1: Visit the IPO Application page and enter the client code.
Step 2: You will receive an OTP on your registered mobile number; validate it.
Step 3: Select the IPO you want to invest in and enter all the necessary information.
Step 4: Click on ‘Submit’ and your application will be submitted.
Step 5: There must be an adequate amount in your account. Open the UPI app from your registered mobile number and approve the request.
Step 6: Upon approval, your amount will be deducted. Otherwise, the amount will stay unblocked in your respective bank account.
Additional Read: How does an IPO work?
List of Popular Soon-to-Launch IPO in February 2024
The following is the list of companies aiming to go public in February 2024. This list entails all the companies that have submitted their DRHP. Do not miss out on checking these IPO websites and stay informed:
Snapdeal Limited IPO
Snapdeal Limited is one of the leading e-commerce platforms in India, incorporated in 2007. It offers a wide range of products including fashion, home, beauty, personal care and other lifestyle products.
Thus, Snapdeal aims to cater to the needs of middle-income customers availing majorly from non-metro Indian cities. It is planning to raise Rs. 1250 crore through an IPO comprising a fresh issue and an offer for sale.
First Cry IPO
First Cry expects to launch its IPO in February 2024, soon after the Lok Sabha elections of 2024. This is one of the leading online platforms for childcare, based in Pune. Not only this, we know that the company is aiming to raise about Rs. 500 crore through an IPO launch.
OYO IPO
OYO has already filed its DRHP to the SEBI and the company expects to go public in the mid-2024. The OYO IPO expects to raise around Rs. 400 crore through its IPO.
Mobikwik Limited IPO
Incorporated in 2009, Mobikwik Limited is a well-known fintech company. It holds the leading position among the largest mobile wallet players in India. The total issue size of its upcoming IPO company is Rs. 1900 crore including a fresh issue size of Rs. 1500 crore and an offer for sale of Rs. 400 crore.
Ola Electric IPO
India’s largest EV two-wheeler manufacturer, Ola Electric, is all geared to float its IPO this February. The EV maker will launch a fresh issue worth Rs. 5,500 crore to expand its cell production capacity, spend on production research and development and debt repayment. Alongside this fresh issue, it will launch an OFS of 95 million equity shares.
Portea Medical IPO
Portea Medical, a health start-up company, has received approval from SEBI for launching its IPO during the early period of 2023. The company has a plan to raise around Rs. 1000 crore through the launch of its public issue. Moreover, it is expected the company will go live during the first quarter of 2024.
FabIndia Limited IPO
FabIndia Limited has a strong foundation towards the empowerment of rural craftsmen. Incorporated in 1960, the company has successfully linked more than 55,000 rural artists and handicraftsmen in India. FabIndia products are natural and affordable for customers. This year, the company is expected to launch an IPO and is likely going to refile its DRHP for this purpose.
Asirvad Micro Finance Limited IPO
The Manappuram Finance-owned Asirvad Micro Finance is a prominent microfinance institution focused on providing loans to women in India. It plans to launch its IPO this month with a fresh issue worth Rs. 15,000 million. Alongside, the face value of the IPO is Rs. 10. However, it is yet to announce some other important information such as IPO opening and closing dates, total issue size and more.
Summing Up on Upcoming IPO
The year 2024 will likely be another IPO record-making year. Indian investors are keen on investing in upcoming IPOs to benefit from the company’s growth potential. We have listed the most likely candidates for upcoming IPOs in India that are expected to launch this February.
Till these IPOs launch, take the time to visit the official websites of companies you are interested in and check their DRHPs. It is also recommended to open a demat and trading account to make your IPO investment easy and hassle-free once the IPO goes live.
Frequently Asked Questions on Upcoming IPO
You need to open a demat account to start investing in any upcoming IPO. Fill out the KYC form, and provide the residential proof and PAN card details to open a demat account.
No, it is not a good idea to purchase every IPO. Every investor must go through each company’s website and find out their strengths and weaknesses. Accordingly, decide whether it will be beneficial to invest or not.
Before investing in an IPO, examine the industry trends and financial health of the company. Alongside, you need a proper understanding of the allotment process, IPO pricing and the risks associated to make an informed investment decision.
Visit the official website of the company issuing the IPO to check its start date. Alternatively, revisit this page as we will keep you updated.
To apply for an upcoming IPO, you need to download the ASBA form. You can download the form from the broker or by downloading a blank form from the BSE or NSE website.
Additional Read: How to Apply for an IPO
