December 2023: The Month for IPOs
In a remarkable display of financial fervor, December 2023 has emerged as a significant month for the Indian stock market, witnessing a flurry of Initial Public Offerings (IPOs). A total of 12 companies took the plunge into the primary market, collectively raising a staggering ₹8,931.69 crore. This surge in IPO activity marks the best month in two years, surpassing the previous record set in December 2021 when 11 companies mobilized $9,534 crore.
Overview of IPOs in December 2023
The month kicked off with Doms Industries, Flair, India Shelter Finance, and Inox CVA making their stock market debuts. These companies collectively raised substantial capital, contributing to the overall success of the month. Additionally, Azad Engineering is set to commence trading on Thursday, adding another layer to the already impressive lineup.
Breakdown of Key IPOs:
1. Doms Industries: ₹1,200 Crore
Doms Industries secured ₹1,200 crore through its IPO, reflecting investor confidence in the company’s prospects. The successful listing sets a positive tone for the subsequent IPOs in December.
2. Flair: ₹593 Crore
Flair, another entrant in the IPO rush, garnered ₹593 crore, showcasing the diverse sectors participating in the market. The funds raised are expected to fuel the company’s growth initiatives.
3. India Shelter Finance: ₹1,200 Crore
India Shelter Finance, with a substantial ₹1,200 crore IPO, highlights the financial sector’s strong presence in the December offerings. The response indicates investor interest in the housing finance segment.
4. Inox CVA: ₹1,459.32 Crore
Inox CVA, a significant player in the month’s IPO lineup, mopped up ₹1,459.32 crore. The company’s successful fundraising is a testament to the buoyant market sentiment.
5. Muthoot Microfin: ₹960 Crore
Muthoot Microfin’s IPO, valued at ₹960 crore, underlines the attractiveness of microfinance as an investment avenue. The company’s entry into the stock market is met with considerable enthusiasm.
6. Motisons Jewellers: ₹151 Crore
Motisons Jewellers, though a comparatively smaller offering at ₹151 crore, adds diversity to the IPO landscape. The jewelry sector’s presence indicates opportunities across various industries.
7. Suraj Estate Developers: ₹400 Crore
Suraj Estate Developers’ IPO, raising ₹400 crore, signifies the real estate sector’s participation. The infusion of capital is poised to support the company’s projects and expansion plans.
8. Credo Brands: ₹549.77 Crore
Credo Brands entered the market with an IPO worth ₹549.77 crore, showcasing the significance of branding and consumer-focused businesses in the current financial landscape.
9. Happy Forgings: ₹1,008.6 Crore
Happy Forgings made a substantial impact with an IPO amounting to ₹1,008.6 crore. The impressive fundraising reinforces the confidence investors have in the manufacturing sector.
10. RBZ Jewellers: ₹100 Crore
RBZ Jewellers, with an IPO of ₹100 crore, represents the smaller-scale offerings that contribute to the overall diversity of the IPO landscape in December.
11. Azad Engineering: ₹740 Crore
Azad Engineering, set to start trading on Thursday, is anticipated to add to the cumulative fundraising total. The company’s IPO, valued at ₹740 crore, will further enrich the market dynamics.
A Range of Sectors Represented in IPO Rush:
December 2023 has undeniably been a pivotal month for the Indian stock market, witnessing an extraordinary surge in IPO activity. The diverse range of sectors represented in this IPO rush, from microfinance to real estate, reflects the robust and varied nature of India’s economic landscape. The significant funds raised by these companies not only indicate investor confidence but also bode well for the growth and expansion plans of these newly listed entities. As the market eagerly awaits the trading debut of Azad Engineering, the cumulative ₹8,931.69 crore mobilized in December sets the stage for a promising start to the upcoming financial year.
