Upcoming IPOs in February 2022

India saw a record number of businesses taking the IPO route to debut on the public market in 2021. As many as 63 companies went public last year, raising a record Rs. 1.18 lakh crores. Experts are suggesting that this year won’t be any different from 2021 in terms of public offerings. Several businesses that received SEBI’s approval for IPO last year are planning to get listed this year.

Here is a list of possible IPOs that might hit the public market in February 2022.

Upcoming IPOs in February 2022

The following businesses are set to float their IPOs in February 2022. However, do remember that this list is tentative and is subject to change as updates are available.

Vedant Fashions

• Vedant Fashions is the owner of several wedding and celebration wear brands like Manyavar, Mebaz, Mohey, Twamev, and Manthan. This industry-leading company has a Pan India presence with a retail footprint of 1.2 million square feet, including 535 EBOs (exclusive brand outlets) as of 30 September 2021.
• Vedant Fashions plans to raise around Rs. 3,149.19 crores through this public issue. This public offering will entirely be an OFS comprising 3,63,64,838 equity shares. This company’s IPO is set to open for subscription on 4 February 2022 and close on 8 February 2022.

Emcure Pharmaceuticals

• Emcure Pharmaceuticals is involved with the development, manufacture and marketing of pharmaceutical products. This pharma giant will float its Rs. 4,500 crores IPO which will be a combination of a fresh share issuance amounting to Rs. 1,100 crores, along with an OFS of 1,81,68,356 shares.
• It plans to use the proceeds to fund general corporate expenses and debt repayment.

Jana Small Finance Bank

• One of the notable players in the small financing scenario of the country, Jana Small Financing Bank, operates primarily for the rural and semi-urban population. The financial provider will launch its IPO with an issue size of Rs. 2,000 crores. This IPO will include both an OFS of Rs. 1,300 crores and fresh issue of shares worth Rs. 700 crores.
• According to its DRHP, it has appointed SBI Capital Markets, Axis Capital, and ICICI Securities as the lead running managers for its IPO.

MobiKwik

• Fintech platform MobiKwik is one of the most popular providers of mobile wallet services in India. It is gearing up for its public offering of Rs. 1,900 crores which would consist of both fresh issuance of shares of Rs. 1,500 crores and an OFS of Rs. 400 crores by this company’s existing investors.
• The company is looking to fund its growth initiative (both organic and inorganic) with the proceeds of its IPO.

Arohan Financial Services

• Arohan Financials is one of the most notable NBFC-MFIs of the country, which is involved with providing microfinancing to women for small businesses. It has a significant presence in Eastern India.
• This Kolkata-based lender is looking to raise Rs. 1,800 through its public offering. There will be an offer for sale of nearly 2.7 crores shares along with a fresh issue of shares that would be worth Rs. 850 crores.

Northern Arc Capital

• Northern Arc Capital is Chennai-based NBFC that extends credit to the under-banked businesses and individuals. The Northern Arc Capital IPO will be a combination of fresh issue of shares of Rs. 300 crores with an OFS of 3,65,20,585 shares.
• The objective of this IPO is to increase the capital base of this company and to fund general corporate expenses.

ixigo

• ixigo is an online platform offering online bookings for flights, hotels, cars, trains, and buses. It has a strong competition with various other travel platforms such as Yatra, MakeMyTrip, Goibibo, and others.
• It is looking to launch an IPO with an issue size of Rs. 1,600 crores. This would include an OFS worth Rs. 850 crores and fresh issue of shares of Rs. 750 crores. Investors like Micromax and Elevation Capital would make a partial exit through this IPO.

Fincare Small Finance Bank

• Fincare Small Finance Bank is another major lender offering microfinancing solutions. It has a network of 108 ATMs spread across 16 states and 3 Union Territories. According to its DRHP, the Rs. 1,330 crores IPO of Fincare Small Finance Bank will include an offer for sale of Rs. 1,000 crores and fresh issue of equity shares worth Rs. 330 crores.

Shri Bajrang Power and Ispat

• Integrated steel company Shri Bajrang Power and Ispat manufactures iron ore pellets and sponge iron. This company filed its DRHP in 2021, which was approved by SEBI in August. The Rs. 700 crores IPO of this steel firm will be primarily a fresh issue of 41,18,000 shares. It will use the proceeds for loan repayment and fund the company’s working capital requirements.

Penna Cement

• Hyderabad-based Penna Cement has a robust presence in southern and western parts of the country. This cement manufacturing company is planning to float an IPO that would have an issue size of Rs. 1,300 crores. It will use the IPO proceeds mainly for debt repayment and funding its capital requirements.

LIC India Ltd.

• LIC India Ltd. is one of the most renowned life and general insurance providers in India. It has a massive market share of 69% in the insurance sector of the country with a fund base of Rs. 290 crores.
• LIC IPO has been making headlines since last year as the largest ever public issue to take place in the history of India. This IPO is set to have an issue size of Rs. 80,000 to Rs. 1,00,000 crores. The price band of this public issue might range between Rs. 400- Rs. 500 per share.

ESAF Small Finance Bank Ltd.

• ESAF Small Finance Bank provides banking services and microloans to the under-banked section of India. It has around 46.8 lakh customers and over 550 branches across the country. The public offering of ESAF will have an issue size of Rs. 998 crores, which will be a combination of both an offer for sale and a fresh issue of shares.
• The OFS would see an exit of shares worth Rs. 198 crores by its existing shareholders. The fresh issue of shares would be of Rs. 800 crores.

Utkarsh Small Finance Bank

• In June 2021, Utkarsh Small Finance Bank got the market regulator’s approval to float its public offering. This IPO will include an OFS of Rs. 600 crores and fresh issue of shares worth Rs. 750 crores. There would be a pre-IPO placement as well, with which the financial institution aims to raise Rs. 250 crores.
• It has decided to reserve 10% shares for RIIs, 75% for QIB, and 15% for NIIs.

Studds Accessories Ltd.

• Studds Accessories Ltd. is known for manufacturing helmets for two-wheelers. It is also involved with the production of numerous lifestyle accessories such as eyewear, rain suits, gloves, and more.
• It obtained in-principle approval for its IPO, which would consist of a fresh issue of shares of Rs. 98 crores. The rest of this Rs. 450 crores IPO will be an offer for sale of 39,39,000 shares by its promoters.

Delhivery

• Gurugram-based logistics and delivery service provider Delhivery has filed for its Rs. 7,460 crores IPO in November 2021. As per its DRHP, the firm is planning to raise Rs. 5,000 crores via fresh issue of shares along with an offer for sale of shares worth Rs. 2,460 crores.
• Delhivery hopes to have a valuation ranging between $6 billion and $6.5 billion after its listing.

Sterlite Power Transmission

• Operating primarily in India and Brazil, Anil Agarwal-led Sterlite Power Transmission is involved with developing power transmission infrastructure. This private player submitted papers for its IPO back in August 2021. The issue size of Sterlite Power IPO would be Rs. 1,250 crores. This public offering will be exclusively a fresh issue of equity shares with a face value of Rs. 2 per share.
• The fund raised from its IPO will be used for repayment of debt and for funding its general corporate structure.

Ola

• Bengaluru-based cab aggregator platform Ola is gearing up to get listed on the primary market. It aims to raise Rs. 7,300 crores through its public offering. Further details regarding this IPO are not yet available.
• However, reports suggest that Ola has already raised a substantial amount through its pre-IPO round from global firms like Temasek and Warburg Pincus. It has appointed Citigroup Inc. and Kotak Mahindra Bank Ltd. for managing its public offering.
• Ola has also entered the EV market and has already launched its much-awaited electric scooter.

PharmEasy

• Digital health-tech platform PharmEasy is one of the most significant online platforms in the country, providing healthcare services such as online doctor consultations, medicines, providing protocols for various treatments, and more.
• Its DRHP states that PharmEasy intends to float an IPO of Rs. 6,250 crores. It will utilise the proceeds from its public offering for debt repayment, funding general corporate purposes, and for acquiring an additional stake of Aknamed. Aknamed is a cloud-based platform involved with hospital supply management.

Bajaj Energy Ltd.

• Bajaj Energy Ltd. is a notable thermal generation company in India with a strong record of developing, financing and operating thermal power plants in India. As per its DRHP, the company is looking to raise Rs. 5,450 crores through its IPO. It will be a combination of fresh issuance of shares worth Rs. 5,150 crores and an offer for sale of Rs. 300 crores.
• It intends to utilise net proceeds from the IPO for acquiring Lalitpur Power Generation Company at Rs. 4,927 crores. Moreover, it will use the remaining amount for funding the company’s general expenses.

Final Words

The above-mentioned companies have filed their DRHPs and also received approval from SEBI. They can possibly float their IPOs in the upcoming month.

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FAQs on Upcoming IPO in February 2022

How to get the application forms for IPOs launching in the primary market in February 2022?

You can get the application form for IPOs that will take place in February 2022 on the website of BSE or NSE. You may also download the application form from your broker’s website. Fill up this form with relevant information and submit it with requisite documents.

 

How to stay updated regarding new IPOs that would come up in February 2022?

You can view essential updates regarding upcoming IPOs from the Angel One website. You can also learn about company financials, the face value of shares, lot size, IPO dates, and other crucial information.

 

How to calculate the total issue size of IPOs that would come up in February 2022?

For calculating total issue size, you need to multiply the price of the stock with total volume, and then you have to add the value of one share.