Diwali celebration is incomplete without some investments, and there is a lineup of IPOs next week, which can lighten up your post-Diwali celebrations. Four IPOs are coming next week between 21 November and 24 November, which you can consider for investing.
| Companies | Gandhar Oil Refinery India | IREDA | Fedbank Financial Services | Tata Technologies |
| IPO Opens on | 21 November | 21 November | 22 November | 22 November |
| IPO Closes on | 23 November | 23 November | 24 November | 24 November |
| Type of Issue | Fresh Issue and OFS | Fresh Issue and OFS | Fresh Issue and OFS | OFS |
| Face value (Rs.) | 2 | 10 | 10 | 2 |
| Listing at | NSE & BSE | NSE & BSE | NSE & BSE | NSE & BSE |
1. Gandhar Oil Refinery India IPO
- IPO Date: 21st to 23rd November, 2023
- Basis of Allotment: 29th November, 2023
- Listing Date: 4th December, 2023
- Face Value: Rs. 2 per share
- Issue Size: Rs. 500 cr
This industrial oil manufacturing company is coming up with its IPO on 21 November 2023, a mix of fresh issue and offer for sale (OFS).
It has been three decades since the company started its journey in 1992, and now it is one of the leading industrial oil manufacturers and suppliers worldwide. Gandhar does it, from industrial oils such as hydraulic, lube, and others to producing mineral oils such as light liquid paraffin oil and yellow petroleum jelly. It also offers a wide range of automotive oils, including 4-stroke/2-stroke motorcycle oil, three-wheeler grease, passenger car motor oil, and more.
Coming to the company’s financials, the total income has increased from Rs. 15187.76 million in FY20 to Rs. 33978.15 million in FY22, an increase of around 120%. Similarly, its PAT surged from Rs. 472.34 million in FY20 to Rs. 1841.47 million in FY22.
The capital that will be raised will be used for financing, repaying, or pre-payment of credit facilities availed by the Texol from Bank of Baroda. Then, the production capacity at the Silvassa plant will be expanded for automotive oil and other expansion projects.
2. Tata Technologies IPO
- IPO Date: 22nd to 24th November, 2023
- Basis of Allotment: 30th November, 2023
- Listing Date: 5th December, 2023
- Face Value: Rs. 2 per share
After ages, Tata Group is coming up with an IPO of Tata Technologies. It will open on 22 November 2023 and close on 25 November. The IPO is an offer for the sale of 60850278 shares.
The company offers engineering and R&D services, digital enterprise solutions, and more to aerospace, automotive, and industrial heavy machinery industries. The company’s total income was Rs. 28969.60 million in FY20, which went up to Rs. 35783.70 million in FY23.
The profit for the FY20 was Rs. 2515.67 million, which has increased to Rs. 4369.70 million. The object of the issue is to offload the equity shares by selling shareholders and avail the benefits of being listed on stock exchanges.
3. IREDA IPO
- IPO Date: 21st to 23rd November, 2023
- Basis of Allotment: 29th November, 2023
- Listing Date: 4th December, 2023
- Face Value: Rs. 10 per share
- Issue Size: Rs. 2,150.20 cr
Indian Renewable Energy Development Agency (IREDA), a Miniratna company, is also coming up with its IPO on 21 November. The IPO will raise Rs. 2150.20 crores, of which fresh issue will be Rs. 1290.13 crores and remaining will be OFS.
IREDA is a financial institution under the government that develops, promotes, and extends renewable projects by offering financial assistance. The organization’s total income has gone up from Rs. 26577.44 million in FY21 to Rs. 34830.44 million in FY23.
The profit and loss for FY21 was Rs. 3463.81 million, which went up to Rs. 8646.28 million in FY23. The institution has proposed using the proceeds from the IPO for capital requirements and on-ward lending in the future.
4. Fedbank Financial Services Limited IPO
- IPO Date: 22nd to 24th November, 2023
- Basis of Allotment: 30th November, 2023
- Listing Date: 5th December, 2023
- Face Value: Rs. 10 per share
- Issue Size: Rs. 1,100 cr
Another financial service company, Fedbank Financial Services, is coming up with its IPO on 22 November. This NBFC started its operations after getting its license in 2010. Currently operating in more than 573 locations and managing approximately Rs. 90696 crore of assets.
The issue will be a mix of Rs. 750 crore of fresh issue and OFS of 7.03 crore shares. The proceeds from the new issue will be primarily used to augment the Tier-I capital base for capital needs in the upcoming years.
The NBFC’s total income was Rs. 6957.66 million in FY21, which has gone up to Rs. 12146.70 in FY23. Similarly, the profit (PAT) has increased from Rs. 616 million in FY21 to Rs. 1801.30 million in FY23.
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I’m Archana R. Chettiar, an experienced content creator with
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