Introduction
Following a dynamic September marked by the introduction of 13 mainboard IPOs, there is significant anticipation surrounding the Upcoming IPOs in October. Numerous distinguished private enterprises are eagerly awaiting the release of their Initial Public Offerings through financial institutions. Gaining insights into these upcoming IPOs in advance can empower you to better organize your financial resources for potential investments and make well-informed decisions in the world of investing.
Upcoming IPOs in October 2023
Below is the prospective list of the upcoming IPOs in India in October 2023. While some of these IPOs have already been announced, others are awaiting the final approval:
Balaji Specialty Chemicals
Balaji Specialty Chemicals Limited is a specialized chemical manufacturing firm that commands a substantial market share. Their chemical products find applications in the pharmaceutical and Agrochemical sectors, serving as solvents, corrosion control catalysts, and photographic agents. Among their most sought-after chemical offerings are Ethylenediamine, Diethylenetriamine, Piperazine, Amino Ethyl Ethanol Amines, and Amino Ethy Piperazine.
While precise dates are yet to be confirmed, it is expected that the Balaji Specialty Chemicals IPO will be made available for public subscription in the initial week of October, with the listing anticipated around October 15th. As outlined in the Draft Red Herring Prospectus (DRHP) submitted to the Securities and Exchange Board of India (SEBI), the company aims to raise approximately Rs. 425 crores through its upcoming IPOs.
EbixCash Limited
Upcoming IPOs in 2023 are expected to include EbixCash Limited, one of India’s prominent players. This company offers cutting-edge technology services via an integrated business model catering to both B2C and B2B sectors. Its services encompass four key verticals: Digital Payment Solutions, Financial Technologies, Travel Solutions, and Business Processing Outsourcing (BPO). EbixCash boasts an established clientele in India and a substantial global footprint.
While the precise IPO launch dates remain undisclosed, it is anticipated that it will make its debut in the market around mid-October 2023. According to the details outlined in the company’s Draft Red Herring Prospectus (DRHP), the IPO’s estimated size is an impressive Rs. 6,000 crores. The funds raised through this offering will be allocated towards fulfilling the working capital needs of its subsidiaries, retiring outstanding convertible debentures, and facilitating strategic acquisitions and investments.
Tata Technologies
The forthcoming Tata Technologies IPO is generating significant anticipation in 2023 and marks the prestigious Tata Group’s return to the public market after nearly two decades since their last IPO in 2004. Tata Technologies is a prominent service provider with a diverse portfolio, encompassing engineering, design, Information Technology (IT), and product lifecycle management services. Its client base spans various industries, including automotive and aerospace, and it holds the 15th position in the Fortune India Infotech Industry Ranking.
After careful consideration, the Tata Technologies IPO is expected to make its debut on D-street in mid-October 2023. The public offering is likely to include a sale of 95,708,984 equity shares, each with a face value of Rs. 2. Of this offering, 50% will be reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and an additional 15% for retail investors. Specifics such as the price band, listing date, lot size, and other details are yet to be disclosed.
SPC Life Sciences
SPC Life Sciences Limited has received regulatory approval from SEBI to proceed with its Upcoming IPO, scheduled for June 2023. The company specializes in the manufacturing and distribution of advanced intermediates used in the production of key active pharmaceutical ingredients. These products find application in various growing therapeutic sectors, including cardiovascular vasodilators (anti-platelets), anti-psychotics, and anti-depressants.
According to details outlined in the company’s Draft Red Herring Prospectus (DRHP), the IPO is expected to consist of a fresh issue valued at Rs. 300 crores and an offer to sell 89.39 lakh equity shares by the promoter, Mr. Snehal Rajiv bhai Patel. Investors can anticipate the SPC Life Sciences IPO to become available in the market during the final week of October 2023. Further particulars regarding the IPO are yet to be disclosed.
ESDS Software
The launch dates for the Upcoming IPO of ESDS Software are yet to be officially confirmed, but there is speculation that it will soon make its debut in the market. ESDS Software is a provider of community cloud services, operating on a multi-tenant model. Their clientele includes 600 enterprises on the Enterprise Community Cloud, 400 banking and financial institutions utilizing the BFSI Community Cloud, and 200 government institutions.
As per the information provided in the Draft Red Herring Prospectus (DRHP), the ESDS Software IPO is expected to comprise a fresh issue of Rs. 322 crores and an offer for sale of up to 21,525,000 equity shares, each with a face value of Re. 1. Additional details about the IPO are currently pending release.
In conclusion
the landscape of Upcoming IPOs in October 2023 is poised for excitement and opportunity. These IPOs represent a diverse range of industries, from chemical manufacturing with Balaji Specialty Chemicals, to technology services with EbixCash Limited, engineering and IT services with Tata Technologies, pharmaceutical intermediates with SPC Life Sciences, and community cloud services with ESDS Software. As these companies prepare to go public, investors have a chance to stay informed and explore potential investment avenues in the dynamic world of upcoming IPOs.
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