Upcoming IPOs In India, 2018


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  • Author samco
  1. Hindustan Aeronautics Limited

Hindustan Aeronautics Limited

Total IPO Size

36,150,000 shares

   

Face value

INR 10 per share

   

Listing on

NSE, BSE

   

Promoters

The President of India

Introduction:

Hindustan Aeronautics is a government owned defence equipment manufacturer. With the IPO, the government expects anywhere between INR 2,000 crore to INR 2,500 crore. The profit after tax for Hindustan Aeronautics for the year ended 2017 was INR 2630.8 crore. It specializes in design, development, manufacture, repair and service of a wide range of products including aircrafts, helicopters, aero engines etc.

Points of Interest to Investors:

Hindustan Aeronautics has been conferred with the “Navratna” status in June 2007 by the Government of India with provides it with strategic and operational autonomy. In addition, it has also received an “Excellent” rating from the Government of India every year from 2002 to 2016. It has a sustained track record of profitability and has paid dividends to the government every year for over four decades.

  1. National Stock Exchange

National Stock Exchange

Total IPO Size (INR)

INR 10,000 crore

   

Face value

INR 10 per share

   

Listing on

NSE, BSE

   
   

Introduction:

National Stock Exchange is the country’s biggest stock exchange. It has been ranked as the fourth largest exchange in the world in terms of equity trading volume by the World Federation of Exchanges (WFE) in 2015. NSE came into existence in the year 1992 and has consistently outperformed. According to the reports from the Securities and Exchange Board of India (SEBI) the NSE is the top exchange for total as well as average daily turnover for equity shares and it has been so since 1995.

Points of Interest to Investors:

NSE is quite close to getting the regulator’s approval after several clarifications. With a healthy profit margin of 45%, NSE IPO is going to be among the largest public offers in recent years. Some of the prominent shareholders of NSE include SBI, LIC, IDBI Bank, Goldman Sachs, Citygroup etc. The IPO will not result in funds inflow for the company since the existing shareholders would be selling their shares through Offer for Sale (OFS).

  1. Acme Solar

Acme Solar

Total IPO Size (INR)

INR 2,200 crore

   

Face value

INR 10 per share

   

Listing on

NSE, BSE

Introduction:

Acme solar is a Gurgaon based solar holdings company. The renewable energy company has received a go ahead from the regulators in December 2017. The company is planning to raise as much as INR 2,200 crore from the IPO.

Points of Interest to Investors:

Funds raised through the IPO will be primarily used to pay off debts and to finance the company’s 200 MW solar power project in Rajhasthan. The promoter, Manoj Kumar Upadhyay, expects to take the capacity to 2351 MW by November 2018.

  1. Barbecue Nation

Barbecue Nation

Total IPO Size (INR)

INR 700 crore

   

Face value

INR 10 per share

   

Listing on

NSE, BSE

   
   

Introduction:

Barbecue Nation is a casual dining chain. It had filed the draft papers with SEBI in August 2017. The IPO comprises of a fresh issue of shares worth INR 200 crore and an offer for sale of upto 6,179,000 equity shares according to (DRHP).

Points of Interest to Investors:

The offer includes a reservation of upto 1.5 lakh equity shares for its employees. The funds raised through the IPO will be focused towards introducing new Barbecue Nation restaurants in India, repayment of loans and general corporate purposes. The restaurant chain has steadily grown from a single restaurant in 2006-2007 to 81 till June 30, 2017.

  1. ReNew Power

ReNew Power

Total IPO Size (INR)

INR 4,500 crore

   

Face value

INR 10 per share

   

Listing on

NSE, BSE

   

Promoter

Sumant Sinha

Introduction:

ReNew power is the country’s largest renewable power firm. Some of the major investors in the firm include Goldman Sachs, Global Environment fund and Abu Dhabi Investment Authority. It is the largest clean energy producer with 3200 MW wind and solar projects. The company has been valued at $2 Billion by Japan’s JERA during the latest round of funding. The company may raise another $200 million prior to its IPO to support its existing commissioned and planned capacity of 3000 MW.

Points of Interest to Investors:

The company’s portfolio of power generating assets is evenly split between wind and solar plants. Last year it raised nearly USD 200 million from JERA. Currently there are not many players in this sector and hence, the timing of this issue is key.

  1. Lemon Tree Hotels

Lemon Tree Hotels

Total IPO Size

195,797,000 equity shares

   

Face value

INR 10 per share

   

Listing on

NSE, BSE

   

Introduction:

The company was founded in 2002 by Patu Keswani and has hotels under four brands : Lemon Tree Premier, which is an upscale brand; Lemon Tree Resorts, a leisure segment brand; Lemon Tree Hotels, a midscale brand and the economy brand Red Fox Hotels. 

It opened its first hotel in 2004 and is currently the ninth largest hotel chain in India in terms of owned, leased and managed rooms, as of June 30, 2017. It runs 40 hotels in 24 cities with 4289 rooms and over 4000 employees.

Points of Interest to Investors:

According to the draft, the IPO will enhance their visibility and brand image and provide liquidity to its shareholders. It will also provide a public market for the equity shares in India. Its major shareholders include Maplewood, Whispering Resorts, Palms International and RJ Corp. It plans to sell up to 195,797,000 equity shares.

  1. Reliance General Insurance

Reliance General Insurance

Total IPO Size

1,67,69,995 equity shares

   

Face value

INR 10 per share

   

Listing on

NSE, BSE

   

Introduction:

Reliance General Insurance Company is a leading private-sector general insurance company. At the end of March 2017, Reliance General Insurance’s book value stood at INR 1,250 crore. The company’s valuation is expected to be over INR 6,000 crore, an average multiple of around five times.

Points of Interest to Investors:

The IPO would comprise of a fresh issue of up to 1,67,69,995 equity shares by Reliance General Insurance Company Limited. Overall, the issue comprises of up to 6,70,79,979 equity shares of face value of INR 10 each. It intends to use net proceeds from the fresh issue to support the solvency margin and consequently increase the solvency ratio and to meet future capital requirements.

  1. Seven islands

Seven Islands

Total IPO Size (INR)

INR 450 crore

   

Face value

INR 10 per share

   

Listing on

NSE, BSE

   

Introduction:

Seven Islands, is a dominant player in liquid marine logistics with around 12 Marine Tankers and having clients like HPCL, BPCL, IOC. As of June 2017, it is the third largest liquid seaborne logistics company in India by deadweight tonnage. Company operates primarily along the Indian coast, Arabian gulf and South-east Asia. Funds raised through the issue will be used to buy a very large crude carrier and for other general corporate purposes. The IPO of INR 450 crore is comprised of INR 200 crore fresh equity issue and INR 250 crore via offer for sale. The Company is diluting around 22% of post issue equity.

Points of Interest to Investors:

It has been reporting CAGR of above 25% in top lines and 50% in bottom lines for past three fiscals. Its turnover grew from INR 104 crore in FY 2014 to INR 383 crore in FY 2017 with commensurate rise in net profits that grew from INR 17 crore to INR 107 crore for the corresponding years. Currently company owns and operates 12 liquid vessels with a total deadweight capacity of 900,558 MT out of which two are Small vessels, seven are MR vessels, two are Suezmax vessels and one is a VLCC vessel.

  1. Prince Pipes and Fittings

Prince Pipes and Fittings

Total IPO Size (INR)

INR 800 crore

   

Face value

INR 10 per share

   

Listing on

NSE, BSE

   

Introduction:

Prince Pipes and Fittings is India's third-largest PVC pipes manufacturer. The Mumbai-based company has five manufacturing plants--two in Silvassa and one each in Haridwar, Chennai and Kolhapur. Funds raised through the IPO will be utilsed for payment of outstanding loans and financing the project cost towards establishment of a new manufacturing facility.

Points of Interest to Investors:

Prince Pipes has an annual production capacity of 1,50,000 metric tonnes. It reported INR 1,009 crore in sales for the year ended March 2016, compared with INR 957 crore in FY 2015.

The company's net profit grew 81% from a year ago to INR 31 crore. 

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