IPOs In 2022: After LIC Issue Opens Next Month, Here Are Other Offers Expected This Year

A few companies got listed so far and other companies including Prasol Chemicals Ltd, Senco Gold Ltd, BIBA Fashion Ltd are also expected to launch their issues in the coming months

Life insurance Corporation logo seen displayed on a smartphone

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New Delhi:  After a blockbuster year of initial public offers (IPOs) in 2021, the market had a slow start in 2022. The market mopped up a record Rs 1.2 lakh crore through initial public offerings (IPOs) during 2021 even as the stock market key indices leaped to new highs dismissing Covid concerns.

The growth in IPOs was triggered by new-age technology brands like Paytm, Zomato, Nykaa and Policybazaar. Several upcoming IPOs were delayed as the markets turned volatile amid rising crude oil prices, geopolitical concerns due to Russia-Ukraine conflict, and fears of higher inflation.

The LIC share sale on May 4-9 is expected to fetch the government Rs 21,000 crore, making it the largest IPO in the country till date.

Although there was not a flurry of IPOs hitting the market since the start of 2022, there were still a few companies that got listed in 2022 and others are expected to launch in the coming months.  These companies have already filed preliminary papers with capital markets regulator Sebi to raise money. Some of them has already got the approval from market regulator. Here's a list compiled of few top upcoming IPOs expected in 2022.

List of IPOs expected in 2022

Prasol Chemicals Ltd: Specialty chemical company Prasol Chemicals has filed preliminary papers with capital markets regulator Sebi to raise as much as Rs 800 crore through an initial share-sale.  The IPO comprises fresh issue of equity shares aggregating up to Rs 250 crore and an offer-for-sale (OFS) of up to 90 lakh equity shares by existing shareholders, according to the draft red herring prospectus (DRHP).  The company may consider a further issue of equity shares aggregating up to Rs 50 crore. If such placement is completed, the fresh issue size will be reduced.        

Hexagon Nutrition: The company has received capital markets regulator Sebi's approval to raise up to Rs 600 crore through an IPO. The company's public issue consists of a fresh issue of equity shares aggregating to Rs 100 crore, and an offer for sale (OFS) of up to 30,113,918 equity shares, according to the DRHP.

Senco Gold Ltd: Eastern India’s leading jewellery retail chain, Senco Gold Ltd has filed a DRHP with capital markets regulator SEBI to raise Rs 525 crore through an initial public offering, said sources, according to PTI. The IPO of Senco Gold comprises fresh issue of equity shares aggregating up to Rs 325 crore and an offer for sale of equity shares of Rs 200 crore from existing private equity shareholder, SAIF Partners India IV Ltd.

Venus Pipes & Tubes: The company has filed draft papers with markets regulator Sebi to raise funds through an initial share sale. Through the IPO, 50.74 lakh equity shares of the company will be sold, according to the DRHP.

BIBA Fashion Ltd:  Ethnic wear fashion label Biba Fashion, which is backed by Warburg Pincus and Faering Capital, has filed preliminary papers with Sebi to raise funds through an initial public offering (IPO). The IPO comprises fresh issuance of equity shares worth Rs 90 crore and an offer for sale (OFS) of 2.77 crore equity shares by promoter and existing investors, according to the prospectus.

Aadhar Housing Finance Ltd: Aadhar Housing Finance has filed its DRHP with SEBI for an initial public offering of Rs7,300 crore. “The IPO comprises fresh issuance aggregating up to Rs1,500 crore by the company (fresh issue) and an offer for sale of aggregating up to Rs5,800 crore by BCP Topco VII PTE. Ltd,” the company said, reported PTI.

Joyalukkas India Ltd: Joyalukkas India has filed a DRHP with capital markets regulator SEBI to launch Rs 2,300-crore IPO. The net proceeds of the issue will be utilised for repayment or prepayment, in full or part, of certain borrowings availed by the company of worth Rs 1,400 crore. Kerala-based jewellery retail chain will use Rs 463.9 crore for financing the opening of eight new showrooms.

Yatharth Hospital & Trauma Care Services: The company has filed for an IPO comprising Rs 610 crore fresh issue and an offer for sale (OFS) of 6,551,690 equity shares by promoters.

Hemani Industries: Hemani Industries has filed a draft red herring prospectus (DRHP) with market regulator Sebi to launch an initial public offer (IPO) worth ₹2,000 crore. The IPO size comprises a fresh issue of Rs500 crore, while an offer for sale (OFS) to the tune of Rs1,500 crore.

Vikram Solar: Domestic module manufacturer Vikram Solar has filed draft papers with market regulator SEBI to raise funds through an IPO. The IPO consists of a fresh issue of up to ₹1,500 crore and an Offer-for-Sale (OFS) of up to 5,000,000 equity shares by the selling shareholders, said the company.

 

(With inputs from PTI)