As the stock market gears up for another exciting season of initial public offerings (IPOs), several companies are preparing to make their debut on the mainboard in 2024. Investors are eagerly awaiting these offerings, as IPOs present a unique opportunity to buy into growing businesses at an early stage. Here are five of the most anticipated mainboard IPOs that are expected to hit the market soon:
Upcoming Mainboard IPOs
Hyundai Motor India Limited IPO (Hyundai Motor IPO) Detail
The Hyundai Motor IPO (Mainboard IPOs) will be a book-built issue comprising 14.22 crore shares, with the entire offering being an offer for sale (OFS) of these shares. The specific dates for the Hyundai Motor IPO have not yet been announced, and the price band is also pending release.
The lead managers for the Hyundai Motor IPO are Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, HSBC Securities & Capital Markets Pvt Ltd, J.P. Morgan India Private Limited, and Morgan Stanley India Company Pvt Ltd. Kfin Technologies Limited will serve as the registrar for the issue.
Established in May 1996, Hyundai Motor India Limited is a subsidiary of the Hyundai Motor Group, which ranks as the third-largest original equipment manufacturer (OEM) globally based on passenger vehicle sales.
The company specializes in manufacturing and selling reliable, feature-rich, and innovative four-wheeler passenger vehicles, utilizing cutting-edge technology. Additionally, Hyundai Motor India produces components such as transmissions and engines.
Hyundai provides comprehensive mobility solutions, operating a vast network of 1,366 sales points and 1,550 service centers throughout India.
As of March 31, 2024, the company has successfully sold nearly 12 million passenger vehicles in India, including those exported abroad.
The product lineup includes various four-wheeler passenger vehicles, featuring models such as sedans, hatchbacks, SUVs, and electric vehicles (EVs). Notable models include the Grand i10 NIOS, i20, i20 N Line, AURA, Elantra, Venue, Venue N Line, Verna, Creta, Creta N Line, Alcazar, Tucson, and the all-electric SUV, the Ioniq 5.
Diffusion Engineers Limited IPO (Diffusion Engineers IPO) Detail
The Diffusion Engineers IPO (Mainboard IPOs) is a book-built issue valued at ₹158.00 crores, consisting entirely of a fresh issue of 0.94 crore shares.
The IPO opens for subscription on September 26, 2024, and will close on September 30, 2024. The allotment for the Diffusion Engineers IPO is anticipated to be finalized on Tuesday, October 1, 2024. It is set to be listed on both the BSE and NSE, with a tentative listing date scheduled for Friday, October 4, 2024.
The price band for the Diffusion Engineers IPO has been established at ₹159 to ₹168 per share. The minimum lot size for applications is 88 shares, requiring a minimum investment of ₹14,784 from retail investors. For small and medium institutional investors (sNII), the minimum investment is for 14 lots (1,232 shares), totaling ₹206,976, while for big institutional investors (bNII), it is 68 lots (5,984 shares), amounting to ₹1,005,312.
Additionally, the issue includes a reservation of up to 50,000 shares for employees, which will be offered at a discount of ₹8 from the issue price.
Unistone Capital Pvt Ltd serves as the book-running lead manager for the Diffusion Engineers IPO, while Bigshare Services Pvt Ltd acts as the registrar for the issue.
KRN Heat Exchanger and Refrigeration Limited IPO (KRN Heat Exchanger IPO) Detail
The KRN Heat Exchanger IPO (Mainboard IPOs) is a book-built issue valued at ₹341.95 crores, consisting solely of a fresh issue of 1.55 crore shares.
The bidding for the KRN Heat Exchanger IPO (Mainboard IPOs) opened on September 25, 2024, and will close on September 27, 2024. Allotment is expected to be finalized on Monday, September 30, 2024, with the IPO set to list on both the BSE and NSE, and a tentative listing date scheduled for Thursday, October 3, 2024.
The price band for the KRN Heat Exchanger IPO has been established at ₹209 to ₹220 per share. The minimum lot size for applications is 65 shares, requiring a minimum investment of ₹14,300 from retail investors. For small and medium institutional investors (sNII), the minimum investment is for 14 lots (910 shares), totaling ₹200,200, while big institutional investors (bNII) can apply for 70 lots (4,550 shares), amounting to ₹1,001,000.
Holani Consultants Private Limited serves as the book-running lead manager for the KRN Heat Exchanger IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
About KRN Heat Exchanger and Refrigeration Limited
KRN Heat Exchanger and Refrigeration Ltd is a prominent manufacturer of fin and tube-type heat exchangers. The company produces heat exchangers made from copper and aluminum fins, as well as copper tubes, water coils, condenser coils, and evaporator coils. They offer heat exchanger tubes in various shapes and sizes, ranging from 5 mm to 15.88 mm in diameter. All products cater to the domestic, commercial, and industrial sectors of the Heating, Ventilation, Air Conditioning, and Refrigeration (HVAC&R) industry.
Notable clients include Daikin Airconditioning India Pvt Ltd, Schneider Electric IT Business India Pvt Ltd, Kirloskar Chillers Private Ltd, Blue Star Ltd, Climaventa Climate Technologies Pvt Ltd, and Frigel Intelligent Cooling Systems India Pvt Ltd. The company also exports its products to numerous countries, including the UAE, USA, Italy, Saudi Arabia, Norway, Czech Republic, Germany, the UK, and more.
Manba Finance Limited IPO (Manba Finance IPO) Detail
The Manba Finance IPO (Mainboard IPOs) is a book-built issue valued at ₹150.84 crores, comprising a fresh issue of 1.26 crore shares.
Bidding for the Manba Finance IPO began on September 23, 2024, and concluded on September 25, 2024. Allotments are anticipated to be finalized on Thursday, September 26, 2024. The IPO will be listed on both the BSE and NSE, with a tentative listing date set for Monday, September 30, 2024.
The price band for the Manba Finance IPO is established between ₹114 and ₹120 per share. The minimum application lot size is 125 shares, which requires a minimum investment of ₹15,000 from retail investors. For small and medium institutional investors (sNII), the minimum investment consists of 14 lots (1,750 shares), totaling ₹210,000, while big institutional investors (bNII) can apply for 67 lots (8,375 shares), amounting to ₹1,005,000.
Hem Securities Limited is the book-running lead manager for the Manba Finance IPO, while Link Intime India Private Ltd serves as the registrar for the issue.
About Manba Finance Limited
Founded in 1998, Manba Finance Limited is a non-banking finance company (NBFC-BL) that provides a range of financial solutions, including financing for new two-wheelers (2Ws), three-wheelers (3Ws), electric two-wheelers (EV2Ws), electric three-wheelers (EV3Ws), used cars, small business loans, and personal loans.
The company primarily targets two customer groups: (i) employees and (ii) the self-employed. Manba Finance customizes its offerings to meet the specific needs of these categories, often financing up to 85% of the on-road price of the vehicle that customers wish to purchase, while encouraging them to contribute the remaining amount.
With branches located in urban, semi-urban, and metropolitan areas, the company also serves surrounding rural regions. It has built strong partnerships with over 1,100 dealers, including more than 190 EV dealers across Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh, and Uttar Pradesh.
As of March 31, 2024, Manba Finance employed a workforce of 1,344 individuals.
NTPC Limited FPO (NTPC FPO) Detail
Established in 1975, the National Thermal Power Corporation Limited (NTPC) (Mainboard IPOs) is India’s largest power-generating company, recognized as an “Integrated Power Major” with a comprehensive presence across the entire value chain of the power generation sector. Beyond its core business of power generation, NTPC has expanded into consultancy, power trading, ash utilization, and coal mining. In the 2009 Forbes Global 2000 ranking of the world’s largest companies, NTPC was positioned at 317th.
NTPC boasts a total installed capacity of 30,644 MW (including joint ventures), featuring 15 coal-based and 7 gas-based power stations located throughout India. Additionally, its joint ventures include 3 coal-based stations and one that utilizes naphtha/LNG as fuel. By 2017, NTPC aimed to achieve a more diversified power generation portfolio, projecting approximately 53,000 MW from coal, 10,000 MW from gas, 9,000 MW from hydro, around 2,000 MW from nuclear sources, and about 1,000 MW from renewable energy sources (RES). To facilitate growth, NTPC has implemented a multi-faceted strategy that involves capacity expansion through greenfield projects, upgrading existing facilities, forming joint ventures, establishing subsidiaries, and acquiring power stations.
In October 2004, NTPC initiated its Initial Public Offering (IPO), comprising 5.25% as a fresh issue and 5.25% as an offer for sale by the Government of India. As a result, NTPC became a publicly listed entity in November 2004, with the government retaining 89.5% of the equity share capital, while the remainder is held by institutional investors and the public. The IPO was a significant success, and NTPC ranks among the top five companies in India in terms of market capitalization.
The current follow-on public offering (FPO) involves the Government of India divesting 5% of its stake in NTPC, which holds approximately 89.5% of the company’s equity share capital.
In 2009, NTPC was responsible for 28.6% of India’s total power generation. That year, it was recognized as the leading independent power producer in Asia and ranked second globally based on asset worth, revenues, profits, and return on invested capital.
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