The primary market in India is set for an exciting June 2024, with seven significant IPOs scheduled to launch. This year has already seen 31 listings, with average listing day gains of 26.39%. These upcoming IPOs span various sectors, reflecting the market’s resilience and investors’ growing interest.
Kronox Lab Sciences
Kronox Lab Sciences is gearing up for one of the most anticipated upcoming IPOs in June 2024. Scheduled from June 3 to 5, this IPO is purely an Offer for Sale, pricing each share between INR 129 and 136. The total offering values are between INR 123.45 and 130.15 crores. With a minimum bid size of 110 shares, retail investors are allocated 35% of the shares. Kronox Lab Sciences, a leader in high-purity specialty fine chemicals, provides exposure to a sector crucial for pharmaceuticals, nutraceuticals, and agrochemicals.
Allied Blenders & Distillers
Allied Blenders & Distillers, the largest Indian-owned IMFL producer, is set for a major IPO, aiming to raise INR 1,500 crore through a mix of fresh shares and Offer for Sale (OFS). With a robust 8.2% market share, the company is known for popular brands like Officer’s Choice Whisky. The proceeds will be used to repay outstanding borrowings, emphasizing financial prudence and growth.
Sanstar
Sanstar, specializing in plant-based specialty products and ingredient solutions, is preparing for an IPO expected to raise INR 425-500 crore. The company, with facilities in Maharashtra and Gujarat, plans to use the proceeds to expand its Dhule facility, repay debt, and meet corporate needs. Offering an attractive investment opportunity, Sanstar’s focus on enhancing food taste, texture, and nutritional value makes it a promising contender in the market.
Shiva Pharmachem
Shiva Pharmachem’s upcoming IPO in June 2024 is highly anticipated. A leader in the specialty chemicals sector with over 20 years of experience, the company serves Fortune 500 clients globally. For FY23, it reported a 6% revenue increase to INR 1,079 crore and a 40% net profit jump to INR 116.65 crore. Approved by SEBI, Shiva Pharmachem’s strong financial performance and market position make it an attractive investment.
CJ Darcl Logistics
CJ Darcl Logistics, a prominent player in the full truckload category, is preparing for an IPO to support debt repayment, capital expenditure, and corporate purposes. With over 36 years of industry experience and a presence in 5,249 locations, the company has tripled its revenues over three years, reaching INR 67.70 crore in FY 2023. Its focus on technology-driven services makes this IPO a compelling investment opportunity.
Asirvad Micro Finance
Asirvad Micro Finance, established in 2008, plans to use its upcoming IPO to enhance its capital base and support business expansion. With a vast branch network across 22 states and 4 Union Territories, the company serves 3.25 million active borrowers. Its strong presence in the microfinance sector and significant growth potential position Asirvad as an attractive investment option.
Kross Limited
Kross Limited, a manufacturer of commercial vehicle and farm equipment parts, is set for an IPO with a fresh issue of INR 250 crore and an OFS of INR 250 crore. With over 30 years of experience and a diversified product portfolio, Kross aims to use the funds for expansion plans and provide an exit opportunity for existing shareholders. Its strong industry position and financial performance are likely to draw substantial investor interest.
