Are you eager to check out for IPOs in the coming weeks and months? After the scintillating IPO releases in 2023, the stage is set for another upcoming IPO boom in 2024. The first week of March is packed with IPOs of Pune E-stock broking, R.K. Swamy, and the much-awaited Gopal Snacks Limited IPO.

Then there are some bigshot IPOs touted to be released this year after they got the SEBI nod. Institutional and retail investors are keeping a keen eye on the following IPO launches:

  • Swiggy
  • Ola Electric
  • OYO.

It seems there’s no stopping the IPO juggernaut and even the general elections have failed to rein in investor confidence. Interest in a demat account app has also soared with India’s continuing bull run.

Upcoming mainboard IPOs in March 2024

Here are the upcoming IPO of stocks to be released in the first week of March 2024:

  1. Pune E-Stock Broking Limited
  • PESB is going to release a fresh issue of 46.06 lakh shares to the public.
  • The subscription offer will be open to the public between 7th March and 12th March 2024.
  • PESB IPO is to be listed on BSE.
  • The price range is set between Rs. 78-83 per share.
  • The minimum lot size is 2 (3200 shares in each lot) for HNIs.
  • For retail investors, the minimum eligibility amount required is Rs. 132,800.
  1. Gopal Snacks Limited
  • Gopal Snacks IPO is set to release a Book Built Issue IPO of Rs. 650 crore with 1.62 crore shares.
  • Gopal Namkeen IPO will remain open for public subscription between 6th and 11th March 2024.
  • The IPO will be listed on both BSE and NSE.
  • The price band for the IPO is Rs. 381- Rs. 401 per share.
  • Minimum lot size for HNIs – 14 (518 shares in each lot).
  • Retail investors can buy a minimum of 1 lot of 37 shares amounting to Rs. 14,837.
  1. JG Chemicals Limited
  • JG Chemicals IPO is open for subscription on 5th March 2024.
  • The Suresh Jhunjhunwala-led company is releasing a Rs. 251 crore issue.
  • There’s a fresh issue of 0.75 crore shares (Rs. 165 crore) and a subsequent offer for sale of 0.39 crore shares (Rs. 86.19 crore).
  • The price band is set between Rs. 210-221 per share.
  • The lot size for HNIs – 14 lots (938 shares each); For retail investors – 1 lot (67 shares)
  1. Sona Machinery Limited
  • Sona Machinery IPO opens on 5th March 2024. Closes on 7th March.
  • A fresh issue of 36.24 lakh shares is to be released, valued at 51.82 crores.
  • The price band is set between Rs. 136 – Rs. 143
  • Lot size for HNIs – 2 (2000 shares per lot); For retail investors – 1 (1000 shares per lot)
  • The IPO will be listed on the NSE and the SME Exchange.
  1. RK Swamy Limited
  • The R K Swamy IPO will be listed at NSE and BSE.
  • The IPO will be released on 4th March 2024. The subscription closes on 6th March.
  • There’s a fresh issue of 6 million shares amounting to 173 crores. An offer for sale of 8.7 million shares amounting to 250 crores is also there.
  • The price range is set between Rs. 270-288 per share.
  • Lot size is a minimum of 14 for HNIs (700 shares per lot) and 1 for retail investors (50 shares)

How to apply for these IPOs?

To apply for these IPOs, you should have the following accounts:

  • Bank account: A savings account in any registered bank is a prerequisite.
  • Demat account: This is the account where your shares are stored in an electronic form. Invest in the right demat account app.
  • Trading account: An account from where you can carry out the sale and purchase of stocks, derivatives, and IPOs.

Can retail investors invest in IPOs?

Certainly. If it’s a public offering, retail investors become eligible to invest in the IPO. The participation of Indian retail investors in IPOs is still quite repressed. They often wait for institutional buyers and HNIs to invest to gauge investor sentiment. While it’s a good cautionary move, it also leads to retail buyers missing out on lucrative investment avenues. Read the company prospectus, do your research and don’t wait until the last day to apply for the IPO.

Key Takeaway

The upcoming IPO season in 2024 reflects the positive market sentiment in the Indian capital market. Last year 173 SME and 52 mainboard listings were launched. It made a record not seen for years. The trend is only going to continue this year and most experts think that 2024 may even surpass the previous year’s record. Apart from the mainboard IPOs mentioned above, some big names are waiting to join the league. Giants like Swiggy, Ola Electric, OYO, and Portea Medical have received SEBI approval and could launch their IPOs soon.

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