Important IPOs in June 2024: Latest News and Updates
The primary market is bracing for a busy period, with ten new companies preparing to launch IPOs in the coming week, including two on the mainboard and seven in the small and medium enterprise (SME) sector.
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As of May 2024, the markets had launched 31 mainboard IPOs, with an average listing gain of 26.39%. Furthermore, the IPOs of small and medium-sized enterprises (SMEs) have generated substantial interest, with more than 100 SME IPOs having been listed.
“With a strong domestic economy, a thriving stock market, and increasing involvement from retail investors, the country is poised for a massive surge in the IPO market. We are on the brink of sustained, long-term momentum in the IPO market, with this year potentially becoming the best ever for IPOs. So far, India's solid macroeconomic environment and promising growth prospects create an ideal backdrop for this vibrant IPO market. Additionally, there is robust participation from both domestic institutional investors and retail investors," quotes Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt. Ltd.
Indian IPO investors have anticipated a thrilling month in June 2024, with several promising SMEs and mainboard companies issuing their public offerings this month. These organisations operate in a variety of industries, such as engineering, chemicals, pharmaceuticals, logistics, and more.
Here’s a comprehensive overview of the most significant IPOs in June 2024, as well as the essential information that you should be aware of:
1) Stanley Lifestyles
Stanley Lifestyles' IPO opened for subscriptions on June 21 and will close on June 25. Stanley Lifestyles' IPO is a book-built issue worth ₹537 crore. The offering includes a fresh issue of 0.54 crore shares worth ₹200 crore and an offer to sell 0.91 crore shares worth ₹337 crore.
The Stanley Lifestyles IPO price range is between ₹351 and ₹369 per share. The book-running lead managers for the IPO are Axis Capital Limited, ICICI Securities Limited, JM Financial Limited, and SBI Capital Markets Limited, with Kfin Technologies Limited acting as the registrar.
2) Allied Blenders & Distillers IPO
The Allied Blenders IPO will be open for subscription on June 25 and close on June 27. The IPO is a book-built issue worth ₹1,500 crore. The offering includes a fresh issue of 3.56 crore shares worth ₹1,000 crore and an offer for sale of 1.78 crore shares worth ₹500 crore.
The price range for the Allied Blenders IPO is ₹267 to ₹281 per share. The book-running lead managers for the IPO are ICICI Securities Limited, Nuvama Wealth Management Limited, and Iti Capital Ltd, while Link Intime India Private Ltd serves as the registrar.
3) Vraj Iron & Steel IPO
The Vraj Iron and Steel IPO will be open for subscription on June 26 and close on June 28. The IPO is a book-built issue worth ₹171 crore. The offering consists entirely of a new issuance of 0.83 crore shares.
The IPO price range is set at ₹195 to ₹207 per share. Aryaman Financial Services Limited is the book-running lead manager for the IPO, while Bigshare Services Pvt. Ltd. is the registrar.
4) Jun 26, 2024: Akme Fintrade India (Aasaan Loans) IPO Listing under a new category
5) Jun 26, 2024: Dee Development Engineers IPO Listing under a new category
FAQs
What is an IPO calendar?
Displayed on the IPO calendar are the schedule and timeline for current and upcoming IPOs.
Why is the IPO calendar important?
The IPO calendar illustrates the critical dates for various upcoming IPOs, including the issue's opening and closing dates, allotment dates, and listing dates.
What are the important IPOs in June 2024?
In June, the following is a compilation of initial public offerings (IPOs):
a) Kronox Lab Sciences - 03 June 2024
b) Le Travenues Technology (Ixigo) - 10 June 2024
c) Akme Fintrade India (Aasaan Loans) - 19 June 2024
d) Dee Development Engineers - 19 June 2024
e) Stanley Lifestyles - 21 June 2024
f) Allied Blenders & Distillers - 25 June 2024
g) Vraj Iron & Steel - 26 June 2024
