This week is bustling with IPO activity, featuring 10 upcoming listings. Of these, 7 are mainboard IPOs, including notable names like Transrail Lighting Limited and DAM Capital Advisors, while 3 SME IPOs aim to raise a total of ₹71.72 crore.
The mainboard IPOs collectively target a much larger sum, with a combined goal of ₹4630 crore. With such a packed schedule, let’s look at each IPO’s key highlights and what they offer.
Transrail Lighting IPO
Transrail Lighting IPO is a book-built issue aiming to raise ₹838.91 crores. The issue consists of a fresh issue of 0.93 crore shares amounting to ₹400.00 crores and an offer for sale of 1.02 crore shares aggregating ₹438.91 crores.
The company will be listed on the BSE and NSE with a tentative date of December 27, 2024. Retail investors can apply for a minimum lot size of 34 shares, amounting to ₹14,688. The minimum lot size for Small and Medium Investors (sNII) is 14 lots (476 shares), totaling ₹2,05,632, while for Bulk Investors (bNII), it is 69 lots (2,346 shares), amounting to ₹10,13,472.
Transrail Lighting IPO Details
| Offer Price | ₹410 – ₹432 per share |
| Face Value | ₹2 per share |
| Opening Date | 19 December 2024 |
| Closing Date | 23 December 2024 |
| Total Issue Size (in Shares) | 1,94,19,259 |
| Total Issue Size (in ₹) | ₹838.91 Cr |
| Issue Type | Book Built Issue IPO |
| Lot Size | 34 Shares |
| Listing at | BSE, NSE |
Objectives of the Transrail Lighting IPO
The company plans to utilize the net proceeds of the IPO for the following purposes:
- To meet incremental working capital requirements.
- To fund capital expenditure needs.
- For general corporate purposes.
GMP of Transrail Lighting IPO
As of December 17, 2024, the Transrail Lighting IPO has a Grey Market Premium (GMP) of ₹120. With the price band of ₹432 per share, the estimated listing price is ₹552. This indicates a potential gain of 27.78% per share, reflecting positive market sentiment.
Company Overview
Transrail Lighting Limited, established in February 2008, is an engineering and construction company specializing in power transmission, distribution, and infrastructure projects. The company provides services in transmission line construction, civil engineering (including bridges and elevated roads), and railway electrification. It also manufactures and installs lattice structures, conductors, and poles for lighting. Transrail has completed over 200 projects globally, with a presence in 58 countries, including Bangladesh, Kenya, and Finland.
Financials
Transrail Lighting Limited has shown impressive financial growth. For the financial year ending March 31, 2024, the company’s revenue grew by 30.2%, and its profit after tax (PAT) surged by 116.8% compared to the previous year.
SWOT Analysis of Transrail Lighting Limited
| STRENGTHS | WEAKNESSES |
| Extensive presence across 58 countries, offering a broad market reach. Strong track record of over 200 completed projects in power transmission and distribution. Diversified portfolio covering transmission, civil construction, lighting, and railway services. | Increasing dependence on large infrastructure projects can be subject to delays and cost overruns. Limited market share in some regions compared to larger competitors. |
| OPPORTUNITIES | THREATS |
| Growing demand for infrastructure development globally, particularly in emerging markets. Expansion of railway electrification and renewable energy projects. | Fierce competition from both local and international players. Fluctuations in raw material costs affect project margins. Regulatory changes in key markets impacting operations. |
DAM Capital Advisors Limited IPO
It is a book-built issue aiming to raise ₹840.25 crores. The entire issue is an offer for sale, consisting of 2.97 crore shares. The allotment is expected to be finalized on December 24, 2024. The shares will be listed on BSE and NSE, with the tentative date set for December 27, 2024.
Retail investors can apply for a minimum lot size of 53 shares, which requires an investment of ₹14,999. For Small and Medium Investors (sNII), the minimum lot size is 14 lots (742 shares), totaling ₹2,09,986, and for Bulk Investors (bNII), it is 67 lots (3,551 shares), amounting to ₹10,04,933.
| Offer Price | ₹269 – ₹283 per share |
| Face Value | ₹2 per share |
| Opening Date | 19 December 2024 |
| Closing Date | 23 December 2024 |
| Total Issue Size (in Shares) | 2,96,90,900 |
| Total Issue Size (in ₹) | ₹840.25 Cr |
| Issue Type | Book Built Issue IPO |
| Lot Size | 53 Shares |
| Listing at | BSE, NSE |
Objectives of the DAM Capital Advisors Limited IPO
The company will not receive any proceeds from the offer for sale by the selling shareholders.
GMP of the DAM Capital Advisors Limited IPO
As of December 17, 2024, the DAM Capital Advisors IPO has a Grey Market Premium (GMP) of ₹108. With the price band set at ₹283 per share, the estimated listing price is ₹391. This suggests an expected percentage gain of 38.16% per share.
Company Overview
DAM Capital Advisors Limited is an Indian investment bank offering various financial solutions. Its services include investment banking (equity capital markets, mergers and acquisitions, private equity, and structured finance advisory) and institutional equities (broking and research).
Since its acquisition on November 7, 2019, the company has executed 72 equity capital market transactions and advised on 23 M&A, private equity, and structured finance deals. It has a diverse client base, including 263 active clients, and operates in global markets such as India, the USA, the UK, Europe, and Asia.
Financials
DAM Capital Advisors Limited’s revenue grew by 114%, and its profit after tax (PAT) surged by 713% for the financial year ending March 31, 2024, compared to the previous year.
SWOT Analysis of DAM Capital Advisors Limited
| STRENGTHS | WEAKNESSES |
| Strong track record in executing major equity capital market transactions. Established presence in international markets, with a broad client base across geographies. A diverse range of financial services is offered, including high-demand areas like M&A and private equity. | Strong dependency on advisory and capital market services is subject to market volatility. Limited brand recognition compared to larger investment banks in India. |
| OPPORTUNITIES | THREATS |
Increasing demand for financial advisory services in India and emerging markets. Expansion of institutional equities and research services to new clients. | Intense competition from larger investment banks and financial institutions. Regulatory changes that could impact business operations in key markets. |
Mamata Machinery Limited IPO
Mamata Machinery IPO is a book-built issue aiming to raise ₹179.39 crores. The issue consists entirely of an offer for sale of 0.74 crore shares. The allotment will be finalized on December 24, 2024. The shares will be listed on BSE and NSE, with the tentative listing date set for December 27, 2024.
Retail investors can apply for a minimum lot size of 61 shares, with an investment of ₹14,823. For Small and Medium Investors (sNII), the minimum lot size is 14 lots (854 shares), totaling ₹2,07,522, and for Bulk Investors (bNII), it is 68 lots (4,148 shares), amounting to ₹10,07,964.
| Offer Price | ₹230 – ₹243 per share |
| Face Value | ₹10 per share |
| Opening Date | 19 December 2024 |
| Closing Date | 23 December 2024 |
| Total Issue Size (in Shares) | 73,82,340 |
| Total Issue Size (in ₹) | ₹179.39 Cr |
| Issue Type | Book Built Issue IPO |
| Lot Size | 61 Shares |
| Listing at | BSE, NSE |
Objectives of the Mamata Machinery Limited IPO
Mamata Machinery will not receive any proceeds from the offer. The offer proceeds will go to the selling shareholders after deducting offer-related expenses.
GMP of the Mamata Machinery Limited IPO
As of December 17, 2024, the Mamata Machinery IPO has a Grey Market Premium (GMP) of ₹111. With the price band set at ₹243 per share, the estimated listing price is ₹354. This implies a potential gain of 45.68% per share, which suggests strong market demand for the stock.
Company Overview
Mamata Machinery Limited, founded in April 1979, manufactures machines for producing plastic bags, pouches, packaging, and extrusion equipment. The company serves the packaging industry, catering primarily to the FMCG, food, and beverage sectors.
Its notable clients include Balaji Wafers, Chitale Foods, Om Flex India, and Gits Food Products. The company exports to over 75 countries and has international offices in Bradenton, Florida, Montgomery, Illinois, and sales agents in Europe, South Africa, and Asia.
Financials
Mamata Machinery Limited has shown solid financial performance. The company’s revenue increased by 14.84% compared to the previous year, and its profit after tax (PAT) grew by 60.52% for the financial year ending March 31, 2024.
SWOT Analysis of Mamata Machinery Limited
| STRENGTHS | WEAKNESSES |
| Long-established presence in the packaging machinery market. A wide international reach, exporting to over 75 countries. Strong client base across various industries, including FMCG and food & beverage sectors. | Heavy reliance on the packaging industry can be subject to market fluctuations. Dependence on the global export market exposes the company to currency risks and geopolitical instability. |
| OPPORTUNITIES | THREATS |
| Growing demand for packaging machinery in emerging markets. Expansion of product offerings and penetration in new regions. | Intense competition from both domestic and international players in the machinery manufacturing sector. Fluctuations in raw material prices affect profit margins. |
Sanathan Textiles Limited IPO
Sanathan Textiles IPO is a book-built issue worth ₹550.00 crores. The issue comprises a fresh issue of 1.25 crore shares, aggregating to ₹400.00 crores, and an offer for sale of 0.47 crore shares, totaling ₹150.00 crores. Retail investors can apply for a minimum lot size of 46 shares, requiring an investment of ₹14,766. For sNII, the minimum lot size is 14 lots (644 shares), amounting to ₹2,06,724; for bNII, it is 68 lots (3,128 shares), totaling ₹10,04,088.
| Offer Price | ₹305 – ₹321 per share |
| Face Value | ₹10 per share |
| Opening Date | 19 December 2024 |
| Closing Date | 23 December 2024 |
| Total Issue Size (in Shares) | 1,71,33,958 |
| Total Issue Size (in ₹) | ₹550.00 Cr |
| Issue Type | Book Built Issue IPO |
| Lot Size | 46 Shares |
| Listing at | BSE, NSE |
Objectives of the Sanathan Textiles Limited IPO
The company intends to utilize the proceeds for:
- Repayment or pre-payment of certain borrowings.
- Investment in its subsidiary, Sanathan Polycot Private Limited, for debt repayment.
- General corporate purposes.
GMP of Sanathan Textiles Limited IPO
As of December 17, 2024, the Grey Market Premium (GMP) for Sanathan Textiles IPO stands at ₹0. With a price band cap of ₹321, the estimated listing price is ₹321, reflecting no premium or discount (0.00%).
Company Overview
Sanathan Textiles Limited, incorporated in 2005, is a leading polyester yarn manufacturer and a global supplier of cotton yarn. The company operates in three key segments: polyester, cotton yarn, and technical textiles. These technical yarns cater to automotive, healthcare, construction, sports, and protective wear industries.
The company has over 3,200 active yarn varieties and over 45,000 stock-keeping units (SKUs). It can manufacture over 14,000 yarn varieties and 190,000 SKUs for diverse applications. As of June 30, 2024, the company had over 925 distributors across India and six other countries, including Canada, Germany, and Israel.
Financial Strength
Sanathan Textiles reported a decline in performance for the year ending March 31, 2024. Revenue fell by 11%, and the profit after tax (PAT) decreased by 12% compared to the previous year.
SWOT Analysis of Sanathan Textiles Limited
| STRENGTHS | WEAKNESSES |
| Wide product portfolio with extensive SKUs. Strong presence in domestic and international markets. Established relationships with distributors globally. | The recent decline in financial performance. Dependence on the textile industry is cyclical and sensitive to market demand. |
| OPPORTUNITIES | THREATS |
Growing demand for technical textiles in emerging sectors like healthcare and automotive. Expansion opportunities in untapped global markets. | Volatile raw material prices impact margins. Competition from domestic and international textile manufacturers. |
Concord Enviro Systems Limited IPO
Concord Enviro Systems IPO is a book-built issue totaling ₹500.33 crores. The issue consists of a fresh issue of 0.25 crore shares aggregating ₹175.00 crores and an offer for sale of 0.46 crore shares worth ₹325.33 crores. The price band is set between ₹665 and ₹701 per share.
The minimum lot size is 21 shares, requiring a retail investment of ₹14,721. The minimum investment for sNII is 14 lots (294 shares) at ₹2,06,094, and for bNII, it is 68 lots (1,428 shares) at ₹10,01,028.
| Offer Price | ₹665 – ₹701 per share |
| Face Value | ₹5 per share |
| Opening Date | 19 December 2024 |
| Closing Date | 23 December 2024 |
| Total Issue Size (in Shares) | 71,37,321 |
| Total Issue Size (in ₹) | ₹500.33 Cr |
| Issue Type | Book Built Issue IPO |
| Lot Size | 21 Shares |
| Listing at | BSE, NSE |
Objectives of the Concord Enviro Systems Limited IPO
The funds will be utilized for the following purposes:
- Capital expenditure for the greenfield project in the UAE (assembly unit).
- Expansion of manufacturing facilities for the Vasai project.
- Purchase of plant and machinery.
- Prepayment/repayment of borrowings by Concord Enviro FZE.
- Working capital requirements for Concord Enviro FZE.
- Investment in the joint venture Reserve Enviro Pvt. Ltd. for business growth.
- Investment in technology and new market initiatives.
- General corporate purposes.
GMP of Concord Enviro Systems Limited IPO
The Grey Market Premium (GMP) for Concord Enviro Systems IPO is ₹0 as of December 17, 2024. With a price band cap of ₹701, the estimated listing price remains ₹701, showing no premium or discount (0.00%).
Company Overview
Incorporated in July 1999, Concord Enviro Systems Limited specializes in global water and wastewater treatment and reuse solutions, including zero-liquid discharge (ZLD) technology. The company offers integrated services, including design, installation, operations and maintenance (O&M), and IoT-based digital solutions.
Concord Enviro’s operations are divided into four key areas:
- Manufacturing and sale of water treatment, reuse, and ZLD systems.
- Operations and maintenance services.
- Sale of consumables and spare parts, including membranes, plants, and chemicals.
- Installation of compressed biogas plants (CBG).
Financial Strength
The company has shown robust financial growth. Between FY 2023 and FY 2024, revenue grew by 46%, while profit after tax (PAT) surged by 655%, showcasing strong operational efficiency.
SWOT Analysis of Concord Enviro Systems Limited
| STRENGTHS | WEAKNESSES |
| Comprehensive solutions for water treatment and reuse. Strong financial performance with high-profit growth. Advanced ZLD technology catering to sustainability goals. | Greater influence of industrial demand for water treatment. Capital-intensive projects that may impact cash flow. |
| OPPORTUNITIES | THREATS |
Growing global demand for wastewater treatment and ZLD solutions. Expansion into international markets and IoT-based digital solutions. | Competition from domestic and global players in water treatment. Regulatory changes and delays in large-scale industrial projects. |
Ventive Hospitality Limited IPO (Ventive Hospitality IPO) Detail
Ventive Hospitality IPO is a book-built issue worth ₹1,600.00 crores. The issue consists entirely of a fresh issue of 2.49 crore shares. The IPO price band is between ₹610 and ₹643 per share. The IPO will list on BSE and NSE, with the tentative listing date scheduled for Monday, December 30, 2024.
The minimum lot size for retail investors is 23 shares, requiring an investment of ₹14,789. For sNII, the minimum lot size is 14 lots (322 shares) at ₹2,07,046; for bNII, it is 68 lots (1,564 shares) at ₹10,05,652.
| Offer Price | ₹610 – ₹643 per share |
| Face Value | ₹1 per share |
| Opening Date | 20 December 2024 |
| Closing Date | 24 December 2024 |
| Total Issue Size (in Shares) | 2,49,00,000 |
| Total Issue Size (in ₹) | ₹1,600.00 Cr |
| Issue Type | Book Built Issue IPO |
| Lot Size | 23 Shares |
| Listing at | BSE, NSE |
Objectives of the Ventive Hospitality Limited IPO
The company plans to use the funds for the following purposes:
- Repayment/prepayment, in part or full, of certain borrowings.
- Payment of interest accrued on borrowings for the company and its step-down subsidiaries.
- Investments in subsidiaries SS & L Beach Private Limited and Maldives Property Holdings Private Limited.
- General corporate purposes.
GMP
As of December 17, 2024, the Grey Market Premium (GMP) for Ventive Hospitality IPO is ₹0. Based on the cap price of ₹643, the estimated listing price remains ₹643, reflecting no premium or discount (0.00%).
Company Overview
Incorporated in February 2002, Ventive Hospitality Limited operates in the hospitality sector, focusing on the business and leisure segments. The company develops and manages luxury hotels and resorts in India and the Maldives.
As of September 30, 2024, Ventive Hospitality manages 11 operational assets comprising 2,036 keys across upscale segments. Global hospitality giants like Marriott, Hilton, Minor, and Atmosphere operate or franchise their properties. Key assets include JW Marriott Pune, The Ritz-Carlton Pune, Conrad Maldives, Anantara Maldives, and Raaya by Atmosphere Maldives.
Financial Strength
Between FY 2023 and FY 2024, the company’s revenue grew by 8%. However, profit after tax (PAT) significantly declined, dropping by -526%, indicating substantial financial pressure.
SWOT Analysis of Ventive Hospitality Limited
| STRENGTHS | WEAKNESSES |
| Strong presence in luxury hospitality with high-end assets in prime locations. Partnerships with global operators like Marriott and Hilton. Diversified geographical presence, including popular destinations like the Maldives. | Strong dependence on borrowings, leading to financial instability. Significant decline in PAT, raising profitability concerns. |
| OPPORTUNITIES | THREATS |
Growth in luxury travel and hospitality demand post-pandemic. Expansion opportunities in premium spiritual and cultural destinations. | Economic downturns affect leisure and business travel. Rising competition in the upscale hospitality segment. |
Senores Pharmaceuticals Limited IPO
Senores Pharmaceuticals IPO is a book-built issue comprising a fresh issue worth ₹50 crore and an offer for sale of 0.21 crore shares. The IPO will open for subscription on December 20, 2024, and close on December 24, 2024. The allotment is expected to be finalized on Thursday, December 26, 2024. The company’s shares will list on BSE and NSE, with a tentative listing date set for Monday, December 30, 2024.
| Offer Price | To be announced |
| Face Value | ₹10 per share |
| Opening Date | 20 December 2024 |
| Closing Date | 24 December 2024 |
| Total Issue Size (in Shares) | 21,00,000 |
| Total Issue Size (in ₹) | ₹ 50Cr |
| Issue Type | Book Built Issue IPO |
| Lot Size | Shares |
| Listing at | BSE, NSE |
Objectives of the Senores Pharmaceuticals Limited IPO
The company aims to use the funds for the following purposes:
- Investment in subsidiary Havix Group, Inc. to set up a sterile injection manufacturing facility in Atlanta.
- Repayment or prepayment of borrowings availed by the company.
- Repayment or prepayment of borrowings availed by Havix Group, Inc.
- Funding the company’s working capital requirements.
- Funding working capital requirements for subsidiaries Senores Pharmaceuticals Inc. and Ratnatris Pharmaceutical Private Limited.
- Supporting inorganic growth, acquisitions, and general corporate purposes.
GMP of Senores Pharmaceuticals Limited IPO
The Grey Market Premium (GMP) for Senores Pharmaceuticals IPO has not been announced yet.
Company Overview
Incorporated in December 2017, Senores Pharmaceuticals Limited develops and manufactures pharmaceutical products for regulated markets such as the US, Canada, and the UK and serves emerging markets.
The company’s portfolio includes a wide range of tablets and capsules like Amphetamine Sulfate, Hydroxychloroquine Sulfate, Ketoconazole, and more. As of September 30, 2024, Senores has launched 55 products in key therapeutic segments, particularly antibiotics and anti-fungal treatments. They have established partnerships with distributors and hospitals across various states in India.
Financial Strength
The company has demonstrated impressive financial growth. Between FY 2023 and FY 2024, revenue increased by 457%, while profit after tax (PAT) rose by 288%, showcasing strong performance and scalability.
SWOT Analysis of Senores Pharmaceuticals Limited
| STRENGTHS | WEAKNESSES |
| Rapid revenue and profit growth in regulated markets. Strong portfolio with 55 products across critical therapeutic segments. Established presence in key global markets like the US, Canada, and the UK. | Heavy reliance on subsidiaries for manufacturing and growth. Dependency on regulatory approvals to launch new products in international markets. |
| OPPORTUNITIES | THREATS |
Expansion in emerging markets and untapped geographies. New product launches and increased focus on sterile injection manufacturing. | Stringent regulatory requirements in the US and other regulated markets. Rising competition from global and domestic pharmaceutical players. |
SME IPOs launching this week
Having covered all the mainboard IPOs scheduled for this week, let’s now focus on the 3 SME IPOs set to hit the market. These offerings come from various sectors, including infrastructure, VFX, and steel, providing a diverse set of opportunities for investors.
These companies aim to raise ₹71.72 crore, catering to different investor preferences and goals. With such a varied lineup, there’s something for everyone looking to explore niche segments. Let’s dive into the key highlights of each SME IPO and see what they have to offer.
| IPO | Offer Price | Face Value | IPO Dates | Total Issue Size(in shares) | Total Issue Size (in ₹) | Lot Size |
| NACDAC Infrastructure | ₹33 to ₹35 per share | ₹10 per share | 17 to 19 December | 28,60,000 | ₹10.01 cr. | 4000 |
| Identical Brains Studios | ₹51 to ₹54 per share | ₹10 per share | 18 to 20 December | 36,94,000 | ₹19.95 Cr | 2000 |
| Newmalayalam Steel Limited | ₹85 to ₹90 per share | ₹10 per share | 19 to 23 December | 46,40,000 | ₹41.76 Cr | 1600 |
This week brings exciting IPO opportunities, ranging from established names like Transrail Lighting Limited and DAM Capital Advisors to promising SME offerings. Investors have various choices, whether they prefer large-scale investments or stocks with high-growth potential in niche markets.
As always, analyzing the details carefully and weighing the risks before making any investment decisions is crucial. As these IPOs debut in the market, look for more updates and insights.
OTHER IPO RESOURCES
IPO | Current IPO | Upcoming IPO | Listed IPO
Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & the certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.
