Upcoming IPOs in January 2022

The year 2021 was nothing less than a roller-coaster ride for IPOs in India. By large, new companies entering the primary market performed well. However, towards the end, there were a few fiascos like Paytm.

India witnessed a huge number of companies getting listed on the stock market in 2021. This record debut of IPOs can be attributed to a pro-business attitude by the government and RBI that created a stream of foreign money. Apart from this, manufacturing and digitization also boomed. In addition, companies also saw increased participation from investors.

In 2022, this IPO enthusiasm is expected to grow with several big companies debuting in the stock market.

Expected IPOs in January 2022

Mentioned below is a tabular representation of firms that are planning to hit the primary market in January 2022. Please note that the list is tentative as it may change with further updates.

Adani Wilmar

• Adani Wilmar is one of the largest FMCG players in the country. It filed its DRHP with
  the market regulator in August 2021 for its Rs. 3,600 crores public offering.
• This IPO will consist of fresh equity shares with no secondary issue.
• The initial public offering will open for subscription on 27 January 2022 and close on
  31 January 2022.

Emcure Pharmaceuticals

• Emcure Pharmaceuticals, which engages in developing, marketing, and manufacturing pharmaceutical products, plans to hit the primary market with a public offer of Rs. 4,500 crores.
• The IPO will consist of a fresh share issuance of Rs. 1,100 crores, and an offer for sale of about 18,168,356 equity shares.
• The company plans to utilize the funds for debt payment and general corporate purposes.

Arohan Financial Services

• Arohan Financial Services is the largest NBFC-MFI situated in India’s eastern region. The company dedicates itself to providing microloans to women to fund their small businesses.
• With its IPO, the company plans to raise Rs. 1,800 crores. According to its DRHP, the public issue will have a fresh share issuance of Rs. 850 crores, and an offer for sale by current stakeholders of around 2.7 crore equity shares.
• Moreover, Edelweiss Financial Services, Nomura Financial Advisory & Securities, ICICI Securities, and SBI Capital Markets are the book-running managers for this IPO.

MobiKwik

• MobiKwik is a leading fintech company and one of India’s largest mobile wallet service providers. The company focuses on the fast-paced online payments market of India.
• As per its draft papers, MobiKwik plans to enter the primary market with an issue size of Rs. 1,900 crores. The public issue comprises a fresh issue aggregating to Rs. 1,500 crores and an OFS of Rs. 400 crores.
• The primary objective of this IPO is to fund organic and inorganic growth initiatives of the company.

Jana Small Finance Bank

• Jana Small Finance Bank is a leading financial provider in India. The company mainly operates in semi-rural and rural Indian settings. It primarily focuses on spreading its branches across areas where the big financial providers’ names are not present.
• As per its DRHP, the initial public offer of Jana Small Finance Bank will have an issue size of Rs. 2,000 crores. The IPO will have an offer for sale of Rs. 1,300 crores and a fresh issuance of equity shares of Rs. 700 crores.
• The merchant bankers to this issue are SBI Capital Markets, ICICI Securities, and Axis Capital.

ixigo

• ixigo focuses on providing travel solutions to the Indian population by providing flights, trains, buses, and hotel bookings. The company competes with its peers, such as Easemytrip, Booking.com, and Yatra.
• The public issue of ixigo had an issue size of Rs. 1,600 crores, with a fresh issuance of Rs. 750 crores and an OFS of Rs. 850 crores.
• The company’s public issue will also see a partial exit from investors Micromax and Elevation Capital. ixigo will utilize the funds for inorganic and organic growth initiatives and general corporate purposes.

Northern Arc Capital

• Indexed with the RBI as a non-deposit non-banking NBFC, Northern Arc Capital has been operating in the industry for over a decade. The company provides credit to under-served businesses and households both indirectly and directly.
• The IPOs issue size consists of an OFS of 36,520,585 equity shares and fresh issuance of shares amounting to Rs. 300 crores.
• The company might also consider offering these shares through a private placement for cash consideration amounting to up Rs. 150 crores before filing DRHP with the market regulator.

Penna Cement

• Penna Cement is a Hyderabad-based company and a leading player regarding cement production capacity. It features a strong brand recall in western and southern parts of India.
• According to its DRHP, the public issue of Penna Cement will have a fresh share issuance of Rs. 1,300 crores and an OFS of around Rs. 250 crores by the promoters.
• Penna Cement plans to utilize the proceeds from this IPO for debt repayment and expenditure regarding capital requirements.

Fincare Small Finance Bank

• Another small finance bank in the queue, Fincare Small Finance Bank, features a network of over 528 banking and 219 business correspondence avenues. The company also has 108 ATM points in around 16 states and 3 UTs.
• As per its red herring prospectus, its public offer will have a valuation of Rs. 1,330 crores. The total issue size will contain an OFS amounting to Rs. 1,000 crores and a fresh share issuance of Rs. 330 crores.
• The financial service provider has received SEBI’s nod and will reportedly use the funds from this IPO to increase its Tier 1 capital.

Utkarsh Small Finance Bank

• Utkarsh Small Finance Bank received SEBI’s nod in June 2021. Upon its listing in the bourses, this SFB will be the sixth financial institution to hit the primary market.
• The main goal of this public offer is to generate capital. The company plans to generate Rs. 750 crores through fresh shares and Rs. 600 crores through an OFS. Furthermore, the financial institution plans to generate around Rs. 250 crores through a pre-IPO placement.
• The financial institution is in talks to reserve 75% equity shares to QIBs, 10% for RIIs, and 15% for NIIs.

Shri Bajrang Power and Ispat

• In August 2021, Shri Bajrang Power and Ispat received SEBI’s go-ahead for its IPO. The company is one of the integrated steel firms and leads in the country with its production capacity of iron ore pellets, sponge iron, and iron ore beneficiation.
• The leading steel firm is likely to generate Rs. 700 crores through this public offer. The public issue will only include a fresh share issuance of 41,18,000 equity shares.
• Going by the DRHP, the net proceeds will be utilized for prepayment or repayment of various obligations, financing working capital requirements, and general corporate purposes.

LIC India Ltd.

• The country’s leading life and general insurance provider is gearing to debut in the stock market with its mega IPO. As per reports, LIC has a whopping 69% market share in the Indian insurance sector and features a Rs. 290 crores fund base.
• Once confirmed, the public issue will be the biggest in India. The issue size is still unknown. However, it is expected to be somewhere between Rs. 80,000 – Rs. 1,00,000 crores.
• In addition, the expected price band for this public issue is between Rs. 400 – Rs. 500.

ESAF Small Finance Bank Ltd.

• Yet another SBF on the list, ESAF Small Finance Bank Ltd., plans to go public in January 2022 with a Rs. 998 crores IPO. The company will generate Rs. 800 crores through a fresh issue, and the remaining Rs. 198 crores will be raised through an OFS by current shareholders.
• This public offer also comprises a reservation of subscriptions by employees of around 5% of the firm’s post-offer paid-up share capital.
• However, the financial institution is currently under regulatory pressure. This is because RBI’s regulations state that any financial institution that crosses a threshold of Rs. 500 crores will have to list its shares in local exchange within 5 years of attaining this deed.

Sterlite Power Transmission

• Sterlite Power Transmission, which is led by Anil Agarwal filed its draft papers with SEBI in August to generate around Rs. 1,250 crores through an IPO. This public offer will only include a fresh share issuance of equity shares of the face value of Rs. 2 each.
• Operating in India and Brazil, the company is one of the country’s leading private power transmission infrastructures developers and solution providers.
• The company will use the net proceeds from this IPO for debt repayment and general corporate purposes, according to its DRHP.

Studds Accessories Ltd.

• Studds Accessories Ltd. is one of the leading manufacturers of two-wheeler helmets in the world. Its range of products also includes bike lifestyle accessories, such as gloves, eyewear, rain suits, etc.
• The fresh issue of equity shares is likely to provide the company with Rs. 98 crores. The quantum of shares issued by Studds Accessories is not yet decided. Additionally, the current promoters plan to offer around 3,939,000 shares as an OFS.
• This upcoming IPO will list on both BSE and NSE. Studds Accessories Ltd. has received in-principle approvals from these stock exchanges.

Delhivery

• In early November, the new-age delivery and logistics services provider filed its DRHP with SEBI. The company is planning to raise Rs. 7,460 crores through its IPO.
• In its DRHP, this Gurugram-based firm mentioned generating around Rs. 5,000 crores through fresh issuance of shares and Rs. 2,460 through OFS. Further, the company looks forward to a $6 -$6.5 billion post listing valuation.
• Delhivery was in the news lately for becoming the country’s leading logistics firm regarding revenue. The company has beaten Blue Dart with a total income of Rs. 3,700 crores.

PharmEasy

• Healthtech start-up, PharmEasy filed its DRHP with the market regulator in November to raise Rs. 6,250 crores.
• PharmEasy is the country’s largest digital platform for healthcare-related services, regarding Gross Market Value (GMV). The company focuses on extending services through doctor consultation, delivering protocols for treatment, and radiology and diagnostic tests.
• According to the red herring prospectus, PharmEasy will utilize the net proceeds from this IPO to repay debt and acquire an additional stake in Aknamed – a hospital supply chain management firm and general corporate purposes.

Ola

• Valued at more than $3 billion, this Bengaluru-based startup is in talks to hit the primary market and raise over Rs. 7,300 crores.
• As per reports, this ridesharing company has generated a substantial amount via Warburg Pincus and Temasek in a pre-IPO round. The company had also recently announced its plans to enter the EV market, extending its business scope.
• Ola is working with entities like Kotak Mahindra Bank Ltd. and Citigroup Inc to manage this IPO.

Bajaj Energy Ltd.

• Along with LPGCL, Bajaj Energy Ltd. is one of the largest thermal generation firms operating in Uttar Pradesh. The company features a robust track record of financing, developing, and operating thermal plants in India.
• According to its DRHP filed with SEBI, the firm plans to raise as much as Rs. 5,450 crores through its IPO. Regarding this, it will raise Rs. 5,150 crores through a fresh share issue and the remaining Rs. 300 crores through OFS.
• The company plans to use the net proceeds to acquire Lalitpur Power Generation Company for Rs. 4,927 crores. In addition, it will utilize the remaining proceeds for general expenses.

Recent IPOs in January 2022

AGS Transact Technologies

• AGS Transact Technologies is one of the market leaders in the segment of integrated
  omnichannel payment solutions in terms of offering cash and digital-based solutions
  to corporates and banks.
• The DRHP filed by AGS Transact Technologies indicates that this public issue will be
  worth Rs. 680 crores, comprising an OFS only.
• This IPO will go live on 19 January 2022 and close on 21 January 2022.

FAQs on Upcoming IPO in January 2022

How can I get the application forms for IPOs debuting in the primary market in January 2022?

You can obtain the application form for January 2022 IPOs through the website of BSE or NSE. You can also download a copy of the application via your broker’s website. Therein, you can fill-up the form and submit it along with the required documents.

How can I fill up the application for upcoming IPOs via UPI?

Existing guidelines state that users can apply for an IPO through their UPI IDs. To conduct payments, you will have to link your bank account with UPI operators, like Google Pay, BHIM, PhonePe, etc. After completing this process, your bank or broker will send you a payment mandate to complete this transaction. Upon completing this, you can continue trading.

What is the easiest way to stay up to date regarding the subscription news of IPOs hitting the primary market in January 2022?

Users of Angel One can review regular updates about the upcoming IPOs through our website. They can also receive detailed information about the company’s financials, lot size, share face value, and much more.

How can I calculate the total issue size of public issues hitting the primary market in January 2022?

To calculate the total issue size, simply multiply the price of the stock with its total volume and then add the value of one share.