List of Upcoming IPOs in September 2021

The Indian economy is gradually picking up as lockdown restrictions are easing across various states. Further, improving the vaccination process, healthy economic data and positive global announcements are also supporting the economy. 

The results of these are clearly seen in the performance of the stock market. Equity benchmarks Nifty 50 and Sensex touched a new closing high of 17,234.15 and 57,852.54 respectively on September 2, 2021. Similarly, the ipo market is also gaining traction. A lot of companies have and are coming up with IPOs this year 2021.

Here is a list of upcoming IPOs in the month of September-21. This list is subject to modifications once any further updates are received from the companies or regulatory body (SEBI).

Upcoming IPOs List in September 2021:

Sansera Engineering Ltd.

Company Background:

Sansera Engineering Limited is an engineering-led integrated manufacturer of complex and critical precision engineered components across automotive and non-automotive sectors. Within the automotive sector, the company manufactures and supplies a range of precision forged and machined components and assemblies, such as connecting rod, rocker arm, crankshaft, gear shifter fork, stem comp, and aluminium forged parts, that are critical for engine, transmission, suspension, braking, chassis and other systems for the two-wheeler, passenger vehicle and commercial vehicle verticals. Within the non-automotive sector, Sansera Engineering manufactures and supplies a range of precision components for the aerospace, off-road, agriculture and other segments, including engineering and capital goods. The company supplies most of their products directly to OEMs in finished (forged and machined) condition, resulting in significant value addition by them.

Sansera Engineering Ltd IPO Details:

•    The issue opens on 14 September 2021 and closes on 16 September 2021.
•    The issue size of the IPO is around Rs1,283crores.
•    The objective of the offer is to carry out the offer for sale of up to 17,244,328 equity shares by the selling shareholders and achieve the benefits of listing the equity shares on the stock exchanges.
•    BRLM to the issue are IIFL Securities Ltd, ICICI Securities, Nomura Financial Advisory & Securities.
•    Link Intime India Pvt. Ltd. is the registrar to the issue.  

AMI Organics Limited

Company Background:

AMI Organics Limited is a research and development (R&D) driven manufacturer of specialty chemicals with varied end usage, focused on the development and manufacturing of advanced pharmaceutical intermediates (Pharma Intermediates) for regulated and generic active pharmaceutical ingredients (APIs) and New Chemical Entities (NCE) and key starting material for agrochemical and fine chemicals, especially from the recent acquisition of the business of Gujarat Organics Limited (GOL). The Pharma Intermediates which it manufactures, find application in certain high-growth therapeutic areas including anti-retroviral, anti-inflammatory, anti-psychotic, anti-cancer, anti-Parkinson, anti-depressant and anti-coagulant, commanding significant market share both in India and globally.

AMI Organics IPO Details:

•    The IPO consists of fresh issue of ₹200cr after the company chose pre-IPO placement of ₹100 cr. Whereas, the offer for sale is 6,059,600 shares amounting to ₹369.6cr, the proceeds of which would go directly to the selling shareholders.
•    Out of the proceeds from the IPO and pre-IPO placement, ₹140 cr would be utilized towards repayment/prepayment of certain loans availed by the company while ₹90cr would be used for funding the working capital requirements of the company and the balance of the fresh issue would be used for general corporate purposes. 
•    The book running lead managers to the issue are Intensive Fiscal Services, Ambit Private Limited and Axis Capital Limited.
•    Link Intime India Private Limited is the registrar to the issue.

Arohan Financial Services Limited

Company Background:

Arohan Financial a leading NBFC-MFI with operations in financially under-penetrated Low Income States of India. We provide income generating loans and other financial inclusion related products to customers who have limited or no access to financial services. As of September 30, 2020, our Gross Loan Portfolio (“GLP”) was ₹48.57 billion. We were the largest NBFC-MFI in Eastern India and the fifth largest NBFC-MFI in India based on Gross Loan Portfolio as of September 30, 2020.

Arohan Financial Services Limited IPO Details:

•    Arohan Financial has filed DRHP with SEBI for ₹1,800 crore IPO. 
•    The IPO consists of Fresh Issue of ₹850 crores and OFS of 2,70,55,893 equity shares.
•    Net Proceeds from the Offer shall be utilized for augmenting the capital base of the Company
•    The book running lead managers (BRLMs) to the issue are Edelweiss Financial Services Limited, ICICI Securities Limited, Nomura Financial Advisory and Securities (India) Private Limited and SBI Capital Markets Limited.
•    Link Intime India Private Limited is the registrar to the issue.

Vijaya Diagnostic Centre Limited:

Company Background:

Vijaya Diagnostic Centre Limited offers a one-stop solution for pathology and radiology testing services to its customers through the extensive operational network, which consists of 81 diagnostic centres and 11 reference laboratories across 13 cities and towns in the states of Telangana & Andhra Pradesh, the National Capital Region and Kolkata as on June 30, 2021.

Vijaya Diagnostics IPO Details:

•    The offer comprises of an offer for sale of ₹1,895cr. 
•    The objects of the Offer are to carry out the Offer for Sale of up to 35,688,064 Equity Shares by Selling Shareholders and achieve the benefits of listing the Equity Shares on the Stock Exchanges.
•    The BRLMs to the issue are ICICI Securities, Edelweiss Financial Services and Kotak Mahindra Capital Company.
•    KFin Technologies Pvt. Ltd.is the registrar to the issue.

Fincare Small Finance Bank:

Company Background:

Fincare Small Finance Bank has a suite of banking products such as savings accounts, current accounts, fixed deposits, NRI fixed deposits, recurring deposits, microloans, cash overdraft, loans against gold, loan against property, institutional finance, and two-wheeler loan.

Fincare Small Finance IPO Details: 

•    Fincare Small Finance Bank has filed draft papers for its initial public offering (IPO) with the Securities and Exchange Board of India (SEBI). It plans to raise ₹1,330 crore from the primary market.
•    The IPO of Bengaluru-based microfinance company comprises a fresh issue of ₹330 crore by the bank and an offer for sale of ₹1,000 crore by promoter Fincare Business Services.
•    BRLMs to the issue are ICICI Securities, Axis Capital, IIFL Securities, and SBI Capital Markets.
•    KFin Technologies Pvt. Ltd.is the registrar to the issue.

ESAF Small Finance Bank Ltd

Company Background:

ESAF Small Finance Bank is one of the leading small finance banks in India in terms of client base size, yield on advances, net interest margin, assets under management CAGR, total deposit CAGR, loan portfolio concentration in rural and semi-urban areas and ratio of micro loan advances to gross advances.

ESAF Small Finance Bank IPO Details:

•    The company is planning to raise ₹998 crore through its public issue. 
•    The IPO consists of a fresh issue of ₹800 crore and an OFS of ₹197.78 crore by existing selling shareholders.
•    The bank intends to utilise the net proceeds from IPO towards expansion of its tier-1 capital base.
•    Axis Capital, Edelweiss Financial Services, ICICI Securities and IIFL Securities are BRLMs to the issue.
•    Link Intime India Private Limited is the registrar to the issue.

One Mobikwik Systems Limited

Company Background:

One Mobikwik Systems Limited is a fintech company. It is one of the largest mobile wallets (MobiKwik Wallet) and Buy Now Pay Later (“BNPL”) players in India, based on mobile wallet gross merchandise value (“GMV”) and BNPL GMV, respectively, in Fiscal 2021 (Source: RedSeer Report).

One Mobikwik IPO Details:

•    The company is planning to raise ₹1,900 crore through its public issue. 
•    The IPO consists of a fresh issue of ₹1,500 crore and an OFS of ₹400 crore by promoters and certain shareholders. 
•    The company intends to utilise the net proceeds from IPO for funding organic growth initiatives; funding inorganic growth; and general corporate purposes.
•    ICICI Securities Limited, BNP Paribas, Credit Suisse Securities (India) Private Limited, IIFL Securities Limited and Jefferies India Private Limited are BRLMs to the issue.
•    Link Intime India Private Limited is the registrar to the issue.

Aditya Birla Sun Life Asset Management Company

Company Background:

Aditya Birla Sun Life Mutual Fund is one of the largest fund houses in India. Aditya Birla Sun Life Mutual Fund is a joint venture between the Aditya Birla Group and Sun Life Financial, Canada based international financial company. Aditya Birla MF offers in-house mutual funds across different asset classes.

Aditya Birla Sun Life Asset Management IPO Details:

•    Aditya Birla Capital will sell up to 2.88 million shares held by it in the asset management business, while Sun Life (India) AMC will sell up to 36.03 million shares. Aditya Birla Capital holds 51% stake in the AMC, and the remaining 49% is held by Sun Life. 
•    Kotak Investment Banking, Bofa Securities, Citigroup Global markets India, Axis Capital, HDFC Bank Limited, ICICI Securities, IIFL Securities, JM Financial, Motilal Oswal Investment Banking, SBI Capital and Yes Securities are the global co-ordinators and BRLMs to the issue.
•    Aditya Birla Capital Ltd and Sun Life (India) AMC will together sell a 13.5% stake in their asset management joint venture - Aditya Birla Sun Life AMC Ltd.
•    The IPO size could be around ₹2,000 crore
•    KFin Technologies Private Limited is the registrar to the issue.

Adani Wilmar Limited:

Company Background:

Adani Wilmar Limited is one of the few large FMCG food companies in India to offer most of the essential kitchen commodities for Indian consumers, including edible oil, wheat flour, rice, pulses and sugar. (Source: Technopak Report). The company offers a range of staples such as wheat flour, rice, pulses and sugar. “Fortune” is the flagship brand, of the company. It is the largest selling edible oil brand in India (Source: Technopak Report).
 

Adani Wilmar IPO Details:                           

•    The company is planning to raise ₹4,500 crore through its public issue. 
•    The company intends to utilise the net proceeds from IPO for funding capital expenditure for expansion of our existing manufacturing facilities and developing new manufacturing facilities, repayment/prepayment of our borrowings, funding strategic acquisitions and investments and general corporate purposes
•    Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, BofA Securities India Limited, Credit Suisse Securities (India) Private Limited, ICICI Securities Limited, HDFC Bank Limited, and BNP Paribas are global co-ordinators and BRLMs to the issue.
•    Link Intime India Private Limited is the registrar to the issue.

Paras Defence and Space Technologies Limited 

Company Background:

Paras Defence and Space Technologies Limited is an Indian private sector company engaged in designing, developing, manufacturing and testing of a wide range of defence and space engineering products and solutions. It is also one of the leading ‘Indigenously Designed Developed and Manufactured’ (“IDDM”) category private sector company in India which caters to four major segments of Indian defence sector i.e. defence and space optics, defence electronics, electro-magnetic pulse (“EMP”) protection solution and heavy engineering. (Source F&S Report) The company is also the sole Indian supplier of critical imaging components such as large size optics and diffractive gratings for space applications in India (Source F&S Report).

Paras Defence and Space Technologies IPO Details:
•    The company is planning to raise ₹120 crore through its public issue. 
•    The offering comprises fresh issuance of shares worth ₹120 crore and an offer of sale of up to 17,24,490 equity stocks by promoters and existing shareholders
•    The company intends to utilise proceeds of the fresh issue would be used to fund capital expenditure requirements, to support incremental working capital needs and repayment or prepayment of loans availed by the company.
•    Anand Rathi Advisors is the BRLM to the issue.
•    Link Intime India Private Limited is the registrar to the issue.

GoFirst (erstwhile GoAir)

Company Background:

Wadia Group-backed GoAir has been rebranded as 'Go First' as the airline is betting big on its ultra-low-cost business model to tide over the impact of the COVID-19 pandemic. Go Air is the third Indian carrier to be listed on the bourses after SpiceJet and IndiGo. The airline, which was launched in 2005, has a market share of more than 9.5% in India currently. The Go First as ULCC (ultra-low-cost carrier) would operate narrow-body aircraft type across its fleet, which comprises Airbus A320 and A320 Neos (new engine option) planes in operation.

GoFirst IPO Details:

•    The IPO will be worth ₹3,600 crores.
•    They aim to repay the debt of around ₹2,000 crores owned to Indian Oil Corp for jet fuel. 
•    The global coordinators and BRLMS to the issue are ICICI Securities, Citigroup Global Markets India Pvt Ltd, and Morgan Stanley India Company Pvt Ltd.
•    Link Intime India Private Limited is the registrar to the issue.

Seven Islands Shipping:

Company Background:

As of December 2020, Seven Islands Shipping is the third largest seaborne logistics company in India by deadweight tonnage. In 2020, the company held a significant market share in Indian time charters of crude oil imports (Source: CRISIL Report). The company is present in the liquid products trade where liquid products like white oils, black oils, lube oil and liquid chemicals are transported in product vessels classified as Small vessels, Medium Range or MR vessels and Long Range or LR vessels. It is also engaged in the crude oil logistics business where crude oil is transported in vessels classified as Aframax, Suezmax and Very Large Crude Carriers or VLCCs. Seven Islands Shipping oil products business is carried out through Small and MR vessels while our crude oil logistics business is currently carried out through Suezmax vessels.

Seven Islands Shipping IPO Details:

•    The IPO will be worth ₹600 crores.
•    The public issue comprises of fresh issue of ₹400 crore and an offer for sale up to ₹200 crore by FIH Mauritius Investments.
•    JM Financial Limited and IIFL Securities Ltd are BRLMs to the issue.
•    The net proceeds raised from fresh issue are to be utilised to acquire one very large crude carrier vessel and one medium range vessel from the secondary market and general corporate purposes.
•    Link Intime India Private Limited is the registrar to the issue.

Aadhar Housing Finance

Company Background:

Aadhar Housing Finance is the largest Affordable HFC in India in terms of AUM, as of March 31, 2020. It offers a range of mortgage-related loan products, including loans for residential property purchase and construction; home improvement and extension loans; and loans for commercial property construction and acquisition.

Aadhar Housing Finance IPO Details:

•    The IPO will be worth ₹7,300 crores.
•    The public issue comprises of a fresh issue worth ₹1,500 crores and the offer to sell up to ₹5,800 crore by the promoter. 
•    ICICI Securities Limited, Citigroup Global Markets India Private Limited, Nomura Financial Advisory and SBI Capital Markets Limited are BRLMs to the issue.
•    The net proceeds will be utilized towards augmenting its capital base to meet its future capital requirements.
•    KFin Technologies Private Limited is the registrar of the issue.

Ruchi Soya Industries:

Company Background:

Ruchi Soya Industries, a part of Patanjali Group, is one of the leading FMCG brands in the Indian edible oil sector. It is the largest manufacturers of soya foods with a presence across the entire value chain in upstream and downstream businesses with secured palm plantations.

Ruchi Soya FPO Details:

•    The IPO will be worth ₹4,300 crores.
•    The net proceeds will be utilized towards repayment and/or prepayment of the company's borrowings either partially or fully, funding working capital requirements and general corporate purposes.
•    SBI Capital Markets Limited, Axis Capital Limited, ICICI Securities Limited are the book running lead managers to the issue.
•    Link Intime India Private Limited is the registrar to the issue.

_{Disclaimer: The above report is compiled from information available on public platforms.}

Also Read: Upcoming IPOs in 2021

How to increase the chances of IPO allotment

Further helpful: 

Ami Organics IPO Note

Vijaya Diagnostics IPO Note