India has taken center stage, surpassing all others in the number of initial public offerings (IPOs) this year. The fervor to secure funds persists despite a downturn in the broader market, influenced by global uncertainties. We saw nearly 170 public offers by Indian firms, solidifying its role as the undisputed global leader in IPOs for the year-to-date in 2023.
What do the Market Analysts Say?
Many companies are eager to raise funds before or after the Indian general elections. The robust economic performance has garnered positive sentiments from local and foreign investors towards India. Market analysts are optimistic, projecting this momentum to persist strongly until 2024.
An eventful Quarter
According to the EY report, the third quarter of 2023 witnessed a remarkable surge with 21 IPOs, starkly contrasting the mere four observed in the corresponding quarter of 2022. The funds generated during Q3 2023 totaled an impressive US$ 1,770 million, reflecting a substantial growth of 376% compared to the US$ 372 million recorded in Q3 2022.
Particularly noteworthy is the remarkable success of Small and Medium Enterprises (SMEs). In Q3 2023 alone, these smaller businesses raised an impressive $165.76 million through 48 IPOs, signaling a positive trajectory for India’s business landscape.
Following a dynamic November, December is poised to introduce several new IPOs in the mainboard and SME segments.
Upcoming IPOs in December
| IPO Name | Offer Price | Opening Date | Closing Date | Issue Size |
| Accent Microcell Ltd. | 133-140 | 8-12-23 | 12-12-23 | 78.4 Crores |
| DOMS Industries Ltd. | Yet to announce | 13-12-23 | 15-12-23 | 1200 Crores |
| S J Logistics Limited IPO | 121-125 | 12-12-23 | 14-12-23 | 48 Crores |
| Muthoot Microfin Limited | Coming soon | 1350 Crores | ||
| Allied Blenders and Distillers | Coming Soon | 2000 Crores | ||
| Motisons Jewellers | Coming Soon | 33.4 Crores |
Accent Microcell Limited IPO
Established in 2012, Accent Microcell Ltd has been a reliable producer of cellulose-based excipients for 11 years. These excipients serve various industries, including pharmaceuticals, nutraceuticals, food, and cosmetics.
| IPO Date | December 8 to December 12, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹133 to ₹140 per share |
| Lot Size | 1000 Shares |
| Total Issue Size | Fresh Issue: ₹78.4 Cr |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
S J Logistics IPO
Founded in December 2003, S J Logistics (India) Limited specializes in delivering its clientele comprehensive logistics and supply chain solutions. The company offers various services, including freight forwarding, customs clearance, and adept transportation handling.
| IPO Date | December 12 to December 14, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹121 to ₹125 Per Share |
| Lot Size | 1000 Shares |
| Total Issue Size | 48 Cr |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
DOMS Industries Limited IPO
As a critical player in the Indian stationery and art material industry, DOMS Industries offers an extensive range of products. With a steady revenue growth at a CAGR of 43.8% over the last three years, the company attributes its success to a growing demand for quality stationery and strategic market expansions.
| IPO Date | December 13 to December 15, 2023 |
| Face Value | ₹10 per share |
| Price Band | Not Announced |
| Lot Size | Not Announced |
| Total Issue Size | 1200 Cr |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE NSE |
Muthoot Microfin Limited IPO
Muthoot Microfin Limited is a microfinance institution that provides microloans to female customers in rural India, primarily for income generation. Ranked as the fourth-largest NBFC-MFI in India by gross loan portfolio as of December 31, 2022, according to CRISIL Report, the company is committed to promoting financial inclusion in the grassroots communities.
| IPO Date | Coming Soon |
| Face Value | ₹10 per share |
| Price Band | Not Announced |
| Lot Size | Not Announced |
| Total Issue Size | 1350 Cr |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE/ BSE |
Motisons Jewellers
Established in October 1997, Motisons Jeweller Limited sells gold, diamond, and Kundan jewelry alongside various products, including pearl, silver, platinum, and other metals. The company boasts an extensive collection featuring traditional, contemporary, and fusion designs across various jewelry lines.
| IPO Date | Coming Soon |
| Face Value | ₹10 per share |
| Price Band | Not Announced |
| Lot Size | Not Announced |
| Total Issue Size | Not Announced |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE NSE |
Allied Blenders and Distillers
Established in 2008, Mumbai’s Allied Blenders & Distillers Ltd is the largest Indian-owned IMFL company. Renowned for Officer’s Choice, a top-selling whisky brand, the company has diversified its portfolio to include rum, whisky, brandy, and vodka.
Wrapping Up
India’s soaring IPO performance is a golden opportunity for investors. As the nation takes the lead, it promises a lucrative landscape for those seeking investment avenues. The thriving IPO market exemplifies India’s economic resilience and beckons investors to capitalize on its promising trajectory.
*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 recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the 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.