Upcoming IPOs in June 2022

14 Jun 2022 , 01:27 PM

May 2022 was a pivotal month for the markets in a variety of ways. It was the month in which the LIC IPO was ultimately completed. Of course, the final size and valuations were far lower than expected. However, with a market capitalization of Rs21,008 crore, LIC remains the largest IPO by a significant margin.

The other major IPO was Delhivery Ltd’s Rs5,235 crore offering. Like LIC, the digital logistics startup had a lukewarm response to its IPO. However, although the LIC stock continues to trade at a discount to the issue price, the Delhivery stock has managed to trade above the IPO price.

With the LIC IPO completed, the attention is now on the global macro and geopolitical scenario, which has a lengthy list of approved IPOs waiting in the wings. This is still fluid, and it could be a stumbling block to the smooth flow of IPOs. Here are the IPOs completed so far in June 2022:

1. eMudhra:

The total size of the IPO was Rs412.79 crore. The fresh issuance is worth up to Rs161 crore, while the offer for sale is worth Rs251.79 crore. In the qualified institutional buyer (QIB) category, the IPO was subscribed over four times, in the noninstitutional investor (NII) category, 1.28 times, and in the retail category, 2.61 times. The IPO was subscribed 2.72 times in total.

1. Aether Industries :

The IPO lot size for Aether Industries was 23 shares. An individual retail investor can apply for up to 13 lots, totalling 299 shares valued at Rs1,91,958. The total size of the offering is Rs808 crore. A fresh issue of Rs627 crore was made out of the total amount. An offer for sale has a maximum value of Rs181 crore.

Here are the upcoming IPOs for June 2022:

1. Hexagon Nutrition:

Hexagon Nutrition is a fully integrated firm situated in Mumbai that specializes in product development and marketing, as well as nutrition production and R&D. Hexagon Nutrition is planning a Rs600 crore initial public offering in June. The Hexagon Nutrition IPO is expected to include a fresh issue of equity shares worth up to Rs100 crore and an offer for sale (OFS) of up to 30,113,918 equity shares, according to the DRHP.

1. Bharat FIH:

Bharat FIH Ltd is India’s largest electronic manufacturing services (EMS) supplier, with around a 15% market revenue share in FY21. Aside from mobile phones, the company has expanded into high-growth industries including mechanics, electric vehicles, televisions, and headphones, and is slated to go public in June 2022. The Bharat FIH IPO will include a fresh issue of up to Rs2,502 crore worth of shares and an offer for sale of up to Rs2,502 crore worth of shares by the promoter group and Foxconn affiliate Wonderful Stars, according to the DRHP.

1. MobiKwik IPO:

MobiKwik is a digital payment startup that offers a mobile phone-based payment system and a digital wallet. It was founded in 2009. It is one of India’s most popular mobile wallet services.  The public offering of MobiKwik is expected to be around Rs1,900 crore, with a fresh issue of up to Rs1,500 crore of shares and a Rs400 crore offer for sale by the promoters and present shareholders. The company is anticipated to go public in mid-June.

1. FabIndia IPO:

FabIndia, India’s most popular ethnic clothing brand, is an Indian retailer that sells clothing, furniture, textiles, and ethnic artefacts made by rural Indian artisans. It’s a family-owned business that specialised in handcrafted, indigenous goods. With over 50,000 rural craftspeople, Fabindia has created a platform for skilled, long-term rural employment. According to media reports, the company plans to generate approximately Rs4,000 crore through an initial public offering. SEBI has given its approval to the IPO, which involves a fresh sale of over Rs500 crore and an OFS of 2.5 crore equity shares by promoters and investors.

1. Aadhar Housing Finance:

By 2022, the firm will have the largest client base for affordable housing and the highest disbursement rate. Residential property loans, home repair loans, home extension loans, and commercial property loans are among the company’s offerings. BCP TOPCO VII PTE. LTD, a Blackstone Group company, is looking to raise Rs7,300 crore through an IPO that combines a fresh issue of shares worth Rs1,500 crore and OFS worth up to Rs5,800 crore.

Please note that the list of IPOs is indicative and there may be changes that take place due to unforeseen reasons.