This week is packed with IPO activity, with 11 IPOs set to debut in the market. 5 mainboard IPOs are drawing attention, including well-known names like Vishal Mega Mart and One Mobikwik. On the other hand, 6 SME IPOs are targeting a collective sum of ₹145 crore.
The mainboard IPOs aim for a significantly larger amount, with a combined target of ₹18,337 crore. With such a busy lineup, let’s dive into the key details of each of these IPOs and see what they have to offer.
Vishal Mega Mart Limited
Vishal Mega Mart is set to launch its ₹8,000 crore IPO, entirely structured as an offer for sale (OFS) of 102.56 crore shares. The IPO will open for subscription on December 11, 2024, and close on December 13, 2024. Allotments are expected to be finalized by December 16, 2024, with shares slated to list on the BSE and NSE on December 18, 2024.
Investors can apply with a minimum lot size of 190 shares, requiring an investment of ₹14,820 for retail participants. Small non-institutional investors (sNII) need a minimum of 14 lots (2,660 shares), amounting to ₹207,480, while big non-institutional investors (bNII) need at least 68 lots (12,920 shares), requiring ₹1,007,760.
| Offer Price | ₹74 – ₹78 per share |
| Face Value | ₹10 per share |
| Opening Date | 11 December 2024 |
| Closing Date | 13 December 2024 |
| Total Issue Size (in Shares) | 1,025,641,025 |
| Total Issue Size (in ₹) | ₹8,000 Cr |
| Issue Type | Book Built Issue IPO |
| Lot Size | 190 Shares |
| Listing at | BSE, NSE |
Vishal Mega Mart Limited Grey Market Premium (GMP)
As of December 9, 2024, Vishal Mega Mart’s IPO has a Grey Market Premium (GMP) of ₹23, with a price band of ₹78 per share. This suggests an estimated listing price of ₹101 per share, representing a potential gain of 29.49% on the listing day. The strong GMP indicates positive investor sentiment and could hint at a good demand for the IPO.
Objectives of the Vishal Mega Mart Limited IPO
- This IPO is an Offer for Sale (OFS), and Vishal Mega Mart will not directly receive any proceeds from the issue.
- The proceeds will go to the promoter-selling shareholder after deducting taxes and IPO-related expenses.
Company Overview
Vishal Mega Mart, established in 2001, is a leading hypermarket chain in India, offering products like apparel, groceries, electronics, and home essentials. Catering to middle and lower-middle-income groups, it operates 645 stores across 414 cities in 28 states and two union territories (as of September 30, 2024). With a growing digital presence via its app and website, the company follows an asset-light model, leasing stores and sourcing products from third-party manufacturers to optimize costs and scalability.
Financial Strength
Vishal Mega Mart has demonstrated good financial performance in recent years. Between FY23 and FY24, the company’s revenue grew by 17.41%, reflecting its strong operational efficiency and market demand. Its profit after tax (PAT) surged by 43.78% during the same period
SWOT Analysis of Vishal Mega Mart Limited
| STRENGTHS | WEAKNESSES |
| Established presence with 645 stores across India and a strong digital platform. Asset-light model minimizes fixed costs and enhances operational flexibility. Diversified product portfolio catering to essential consumer needs. Consistent financial growth with a significant rise in revenue and profitability. | Heavy reliance on third-party vendors for product sourcing. IPO proceeds will not benefit the company directly, limiting immediate growth funding. |
| OPPORTUNITIES | THREATS |
Expansion potential in Tier-III and rural markets. Growing demand for affordable retail options among price-conscious consumers. Scope for strengthening its e-commerce presence to complement its physical stores. | Intense competition from retail giants and e-commerce platforms. Vulnerability to economic downturns affecting consumer spending in its target demographic. Dependency on leased infrastructure, which could pose operational challenges. |
Sai Life Sciences Limited
Sai Life Sciences is launching its ₹3,042.62 crore IPO, a combination of a fresh issue of ₹950 crores and an offer for sale (OFS) of ₹2,092.62 crores, comprising a total of 5.54 crore shares. The IPO will open for subscription on December 11, 2024, and close on December 13, 2024. Allotments are scheduled to be finalized on December 16, 2024, with the listing expected on December 18, 2024, on the BSE and NSE.
The price band is set at ₹522 to ₹549 per share, with a minimum lot size of 27 shares. For retail investors, the minimum investment required is ₹14,823. For small non-institutional investors (sNII), the minimum investment is ₹207,522 for 14 lots (378 shares), while for big non-institutional investors (bNII), it is ₹1,007,964 for 68 lots (1,836 shares).
| Offer Price | ₹522 – ₹549 per share |
| Face Value | ₹1 per share |
| Opening Date | 11 December 2024 |
| Closing Date | 13 December 2024 |
| Total Issue Size (in Shares) | 55,421,123 |
| Total Issue Size (in ₹) | ₹3,042.62 Cr |
| Issue Type | Book Built Issue IPO |
| Lot Size | 27 Shares |
| Listing at | BSE, NSE |
Grey Market Premium of Sai Life Sciences Limited (GMP)
Sai Life Sciences IPO has a Grey Market Premium (GMP) of ₹42, as of December 9, 2024, 09:00 AM. Based on the cap price of ₹549, the estimated listing price is ₹591 per share, indicating a potential gain of 7.65%. The GMP reflects moderate optimism among investors.
Objectives of the Premium IPO
- To repay or prepay certain outstanding company borrowings in full or in part.
- For general corporate purposes.
Company Overview
Incorporated in January 1999, Sai Life Sciences Limited specializes in researching, developing, and manufacturing new chemical entities for small molecules. The company provides customized services to biotech and global pharmaceutical companies, catering to the unique needs of over 280 pharmaceutical innovators in FY24, including 230 clients as of September 30, 2024. Impressively, Sai Life Sciences collaborates with 18 of the top 25 global pharmaceutical companies ranked by revenue in 2023.
The company serves clients across major markets, including the US, UK, Europe, and Japan, and a highly experienced business development team supports it. This team comprises 16 professionals, strategically positioned with six in the US, nine in the UK and Europe, and one in Japan.
Financial Strength
Sai Life Sciences has demonstrated good financial growth between FY23 and FY24. The company’s revenue grew by 20%, while its profit after tax (PAT) surged by 729%.
SWOT Analysis of Sai Life Sciences Limited
| STRENGTHS | WEAKNESSES |
| Long-term partnerships with leading global pharmaceutical companies. Established presence in key markets like the US, UK, Europe, and Japan. Diverse service offerings spanning drug discovery, development, and manufacturing. Outstanding financial performance with a 729% PAT growth in FY24. | Revenue concentration from a limited number of large clients. Exposure to shifts in global pharma sector demand. |
| OPPORTUNITIES | THREATS |
Increasing reliance on outsourcing by global biotech and pharma firms. Expansion potential in underserved and emerging markets. Ability to scale niche services in discovery and development. | Competitive pressure from global CRO and CDMO players. Complex regulatory landscapes in multiple jurisdictions.Risk of disruption from evolving pharmaceutical technologies. |
One Mobikwik Systems Limited
One Mobikwik Systems Limited is launching a ₹572 crore IPO, fully comprising a fresh issue of 2.05 crore shares. The allotment will be finalized on December 16, 2024, with shares expected to list on the BSE and NSE on December 18, 2024. Investors can apply for a minimum lot size of 53 shares, requiring an investment of ₹14,787. Small non-institutional investors (sNII) must invest ₹207,018 for 14 lots (742 shares), while big non-institutional investors (bNII) need ₹1,005,516 for 68 lots (3,604 shares).
| Offer Price | ₹265 to ₹279 per share |
| Face Value | ₹2 per share |
| Opening Date | 11 December 2024 |
| Closing Date | 13 December 2024 |
| Total Issue Size (in Shares) | 20,501,792 |
| Total Issue Size (in ₹) | ₹572 Cr |
| Issue Type | Book Built Issue IPO |
| Lot Size | 53 Shares |
| Listing at | BSE, NSE |
Grey Market Premium of One Mobikwik Systems Limited(GMP)
The IPO has a GMP of ₹95 as of December 9, 2024, with an estimated listing price of ₹374 per share, based on the cap price of ₹279. This reflects a potential gain of 34.05%, indicating strong demand in the market.
Objectives of One Mobikwik Systems Limited IPO
- Fund growth in financial services and payment services businesses.
- Invest in data, machine learning, AI, products, and technology.
- Capital expenditure for the payment devices business.
- General corporate purposes.
Company Overview
Incorporated in 2008, Mobikwik is a fintech company offering digital wallets and online payment services. It enables users to pay bills, recharge mobile phones, shop online and offline, transfer money, check bank balances, and make payments through QR codes or credit cards.
The company has introduced innovative solutions like MobiKwik ZIP, ZIP EMI, and Merchant Cash Advance. These leverage digital infrastructure like Aadhaar and NSDL to provide seamless, digital-first financial experiences.
Financial Strength
Between FY23 and FY24, Mobikwik achieved 59% revenue growth and saw its profit after tax (PAT) rise by an impressive 117%, reflecting its strong financial performance and operational scalability.
SWOT Analysis of One Mobikwik Systems Limited
| STRENGTHS | WEAKNESSES |
| Established presence in the digital payment ecosystem. Innovative products like MobiKwik ZIP and ZIP EMI. Significant revenue and profit growth in FY24. | High competition in the fintech sector. Reliance on partnerships for certain financial products. |
| OPPORTUNITIES | THREATS |
Increasing adoption of digital payments in India. Expansion in underserved markets.Potential to enhance offerings using AI and ML. | Regulatory risks in fintech operations. Market competition from established players like Paytm and PhonePe. Dependency on public digital infrastructure for operations. |
Inventurus Knowledge Solutions Limited
Inventurus Knowledge Solutions Limited is launching a ₹2,497.92 crore IPO, entirely an offer for sale of 1.88 crore shares. The IPO opens on December 12, 2024, and closes on December 16, 2024.
The allotment date is December 17, 2024, and shares are expected to list on the BSE and NSE on December 19, 2024. Investors can apply for a minimum lot size of 11 shares, requiring an investment of ₹14,619. Small non-institutional investors (sNII) must invest ₹204,666 for 14 lots (154 shares), while big non-institutional investors (bNII) need ₹1,008,711 for 69 lots (759 shares).
| Offer Price | ₹1265 to ₹1329 per share |
| Face Value | ₹1 per share |
| Opening Date | 12 December 2024 |
| Closing Date | 16 December 2024 |
| Total Issue Size (in Shares) | 18,795,510 |
| Total Issue Size (in ₹) | ₹2,497.92 Cr |
| Issue Type | Book Built Issue IPO |
| Lot Size | 11 Shares |
| Listing at | BSE, NSE |
Grey Market Premium of Inventurus Knowledge Solutions Limited (GMP)
The IPO has a GMP of ₹225 as of December 9, 2024, with an estimated listing price of ₹1,554 per share, based on the cap price of ₹1,329. This reflects a potential gain of 16.93%, suggesting moderate market interest.
Objectives of Inventurus Knowledge Solutions Limited IPO
Proceeds will be entirely allocated to the selling shareholders, with no funds going to the company.
Company Overview
Incorporated in 2006, Inventurus Knowledge Solutions (IKS Health) specializes in providing administrative support to healthcare enterprises. Its services include clinical support, virtual medical scribing, and medical documentation management, helping doctors and healthcare providers reduce paperwork burdens.
IKS Health’s platform supports outpatient care, such as observation, diagnosis, and treatment without hospital admission, and inpatient care, which involves medical services requiring hospital stays. The company focuses on enhancing patient care delivery and reducing administrative bottlenecks for healthcare providers.
Financial Strength
Inventurus Knowledge Solutions recorded a 75.25% revenue growth and a 21.38% increase in PAT in FY24 compared to FY23, demonstrating strong operational performance and profitability.
SWOT Analysis of Inventurus Knowledge Solutions Limited
| STRENGTHS | WEAKNESSES |
| Unique position in healthcare administrative support. Strong revenue growth with stable profitability. Established presence in both outpatient and inpatient care services. | Strong dependance on the healthcare sector for business. Limited diversification in revenue streams. |
| OPPORTUNITIES | THREATS |
Growing demand for healthcare outsourcing. Potential expansion into international healthcare markets. Increasing need for virtual healthcare solutions.. | Regulatory changes in the healthcare sector. Competition from other healthcare technology providers. Dependency on healthcare providers’ adoption of outsourcing. |
International Gemological Institute (India) Limited
The International Gemological Institute (IGI) IPO is a book-built issue worth ₹4,225 crores, comprising a fresh issue of ₹1,475 crore and an offer for sale of ₹2,750 crores. The IPO opens for subscription on December 13, 2024, and closes on December 17, 2024. The allotment for the IPO is expected to be finalized on December 18, 2024, and the shares are likely to list on BSE and NSE on December 20, 2024.
| Offer Price | ₹397 – ₹417 per share |
| Face Value | ₹2 per share |
| Opening Date | 13 December 2024 |
| Closing Date | 17 December 2024 |
| Total Issue Size (in Shares) | To be announced |
| Total Issue Size (in ₹) | ₹4,225.00 Cr |
| Issue Type | Book Built Issue IPO |
| Lot Size | To be announced |
| Listing at | BSE, NSE |
Grey Market Premium of International Gemological Institute (India) Limited (GMP)
As of December 9, 2024, the GMP for the IGI IPO stands at ₹107.50, indicating an expected listing price of ₹524.50 (cap price of ₹417 plus the GMP). This reflects a potential gain of 25.78%, suggesting strong market interest and positive sentiment for the IPO.
Objectives of International Gemological Institute (India) Limited IPO
The company plans to use the net proceeds from the IPO for the following purposes:
- Payment for acquiring the IGI Belgium Group and IGI Netherlands Group from the promoter.
- General corporate purposes.
Company Overview
Incorporated in February 1999, the International Gemmological Institute (IGI) India is a leading diamond, gemstone, and jewelry certification and grading organization. The company provides independent grading reports for diamonds and gemstones based on internationally accepted standards, assessing key characteristics like color, cut, clarity, and carat weight.
IGI operates 31 laboratories worldwide and provides grading services for natural diamonds, lab-grown diamonds, gemstones, and finished jewelry. The company also runs 18 gemology schools that graduate thousands of students annually. IGI is renowned for its expertise and is a trusted name in the global gem and jewelry industry.
Financial Strength
IGI has shown consistent growth in its financials. As of September 30, 2024, the company recorded a revenue of ₹619.49 crore, significantly rising from ₹374.29 crore in 2021. Similarly, PAT increased from ₹171.53 crore in 2021 to ₹326.06 crore in September 2024, reflecting profitability and operational efficiency.
SWOT Analysis of International Gemological Institute (India) Limited
| STRENGTHS | WEAKNESSES |
| Global recognition in gem and jewellery certification.Strong presence in 31 laboratories worldwide.Well-established reputation in the diamond and gemstone grading industry. | Dependence on the gem industry, which can be cyclical.Limited diversification outside grading and certification. |
| OPPORTUNITIES | THREATS |
Expansion of gemology schools and educational offerings.Growing demand for lab-grown diamonds and sustainable gemstones.Potential to expand market share in emerging markets. | Intense competition from other gem certification agencies.Changes in regulations or standards in the grading industry.Fluctuations in the global diamond market, impacting demand. |
SME IPOs launching this week
Now that we’ve discussed all the mainboard IPOs scheduled for this week, it’s time to shift our focus to the 6 SME IPOs set to debut. These IPOs span various sectors, offering opportunities in industries such as aggrotech, marketing consulting, fashion, and transformers.
Together, these companies are looking to raise a total of ₹145 crore from the market. With such a diverse mix of businesses, investors can find options across different sectors that align with their interests and investment goals. Let’s take a closer look at the key details of each of these SME IPOs and what they bring to the table.
| IPO | Offer Price | Face Value | IPO Dates | Total Issue Size(in shares) | Total Issue Size (in ₹) | Lot Size |
| Dhanlaxmi Crop Science | ₹52 to ₹55 per share | ₹10 per share | 9 to 11 December | 4,328,000 | ₹23.80 cr. | 2000 |
| Jungle Camps India | ₹68 to ₹72 per share | ₹10 per share | 10 to 12 December | 4,086,400 | ₹29.42 Cr | 1600 |
| Toss the Coin | ₹172 to ₹182 per share | ₹10 per share | 10 to 12 December | 504,000 | ₹9.17 Cr | 600 |
| Purple United | ₹121 to ₹126 per share | ₹10 per share | 9 to 11 December | 2,604,000 | ₹32.81 Cr | 1000 |
| Supreme Facility Management | ₹72 to ₹76 per share | ₹10 per share | 11 to 13 Decembe | 6,579,200 | ₹50.00 Cr | 1600 |
| Yash Highvoltage Limited | To be announced | ₹5 per share | 11 to 13 December | 7,535,000 | To be announced | To be announced |
Conclusion
With a diverse range of IPOs launching this week, from major players like Vishal Mega Mart and One Mobikwik to promising SME offerings, investors have plenty of opportunities to explore. Whether you’re looking at large-scale investments or smaller, high-growth potential stocks, this week’s IPOs offer something for everyone. As always, reviewing the details and assessing the risks before making any investment decisions is important. Stay tuned for further updates and insights on these IPOs as they begin their market journey.
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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.
