Are you looking for the best IPO investment opportunities in India? February month has ample of them. The market is set with three upcoming IPOs: Platinum Industries Ltd, Exicom Tele-Systems Ltd, and Bharat Highways InvIT.
Let us explore the key details of these new IPOs.
New IPOs in India: Key Highlights
• Platinum Industries, Exicom Tele-Systems, and Bharat Highways InvIT are the three upcoming IPOs in India for February 2024.
• Platinum Industries is a specialty chemicals manufacturer that aims to raise Rs 235 crore for expanding its PVC stabilisers production capacity.
• Exicom Tele-Systems is an EV charger maker that plans to raise around ₹400Cr.
• Bharat Highways InvIT is an infrastructure investment trust that eyes a whopping Rs 2,500 crore raise for providing loans to its project SPVs.
Platinum Industries IPO Details and Schedule
Platinum Industries Ltd, a stabiliser manufacturer based in Mumbai, has announced its initial public offering (IPO). The IPO will open for subscription on February 27 and close on February 29. The anchor book of the IPO will be accessible for one day on February 26.
Platinum Industries IPO price- Rs 162-171 per share.
About Platinum Industries: Speciality Chemicals Manufacturer
Platinum Industries specialises in the production of PVC stabilisers, CPVC additives, and lubricants. It caters to various industries such as PVC pipes, electrical wires, packaging materials, and more.
Market Performance of Oil Companies
The stock prices of Indian Oil Corp, Bharat Petroleum Corp, and Hindustan Petroleum Corp Ltd have surged significantly in 2024. Over the past three months, they have recorded impressive gains of 63% to 80%.
Platinum Industries IPO Size and Financial Details
The allotment of shares will take place on February 29, and refunds will be issued by March 4. The company’s shares are scheduled to be listed on the exchanges on March 5.
At the upper end of the price band, the IPO’s fresh issue size will be approximately Rs 235 crore. This shall result in a post-listing market capitalization of Rs 704 crore.
- IPO opens for subscription: February 27
- IPO closes for subscription: February 29
- Anchor book opening: February 26
- Allotment of shares: February 29
- Refunds issuance: March 4
- Listing of shares on exchanges: March 5
Utilization of IPO Proceeds
The proceeds from the IPO will primarily finance the capital expenditure requirements of Platinum Industries Ltd.
These investments include establishing a manufacturing facility for PVC Stabilizers at SC Zone in Egypt under its arm, Platinum Stabilizers Egypt LLC.
Funds will be allocated for setting up a manufacturing facility for PVC Stabilizers at Palghar.
Exicom Tele-Systems IPO
Exicom Tele-Systems Ltd, an EV charger manufacturer, has announced its IPO.
The IPO will open for bids on February 27, with the anchor book opening on February 26 and closing on February 29. Allotment of shares will be conducted on March 1, and the stock is expected to be listed on the exchanges on March 5.
Exicom Tele Systems IPO price- Rs 135-142 per share.
About Exicom Tele-Systems
Exicom Tele-Systems, led by NextWave Communications and Anant Nahata, specializes in EV chargers and critical power solutions.
As of March 31, 2023, the company commands a 60 percent market share in residential charging and 25 percent in public charging.
Exicom Tele Systems IPO Dates
- IPO opens for bids: February 27
- Anchor book opening: February 26
- Anchor book closing: February 29
- Allotment of shares: March 1
- Listing on exchanges: March 5
Utilisation of IPO Proceeds
The company plans to utilize Rs 145.77 crore to partially finance the establishment of production lines at a manufacturing facility in Telangana.
Additionally, Rs 50.30 crore will be allocated for debt repayment, with total borrowings as of December 2023 standing at Rs 95.34 crore.
Financial Details and Offer Structure
The public offer comprises a fresh issue of shares worth Rs 329 crore and an offer-for-sale of 70.42 lakh shares. At the upper end of the Exicom Tele Systems IPO price band, the offer-for-sale will be valued at Rs 98.59 crore.
This brings the total issue size to Rs 428 crore. Post-listing, the total market capitalization is estimated to be around Rs 1,700 crore.
Ownership Structure and Market Position
NextWave Communications, Satellite Finance, and Vinsan Brothers hold significant stakes in the company. HFCL has a 7.74 percent stake.
HFCL’s stock has seen a rise of over 30 percent year-to-date, partly attributed to the anticipation surrounding Exicom’s IPO.
Monarch Networth Capital, Unistone Capital, and Systematix Corporate Services are the lead managers of the Exicom Tele Systems IPO.
Bharat Highways Invit IPO
Bharat Highways Invit is set to launch its IPO, aiming to raise Rs 2,500 crore, marking the largest IPO in 2024.
The IPO subscription window will open on February 28 and close on March 1. ICICI Securities, Axis Capital, HDFC Bank, and IIFL Securities serve as the book-running lead managers for the issue.
Bharat Highways InvIT IPO price band – ₹98 to ₹100 per share.
About Bharat Highways InvIT
Bharat Highways InvIT is an infrastructure investment trust established to acquire, manage, and invest in a portfolio of infrastructure assets in India.
It operates within the framework of SEBI InvIT Regulations.
Bharat Highways Invit IPO Dates
· IPO opens for subscription: February 28
· IPO closes for subscription: March 1
Background and Approval
The infrastructure investment trust filed draft papers for the IPO in December last year.
The net proceeds from the IPO will largely go towards providing loans to the Project SPVs (special purpose vehicles).
As of February 1, 2024, the Project SPVs had an outstanding external borrowing of Rs 3,568.22 crore.
Conclusion
These upcoming IPOs in India for February 2024 present exciting investment opportunities. Platinum Industries, Exicom Tele-Systems, and Bharat Highways InvIT offer diverse prospects across speciality chemicals, EV chargers, and infrastructure investment trust sectors.
Stay informed about their key details, including price range, issue size, and utilisation of IPO proceeds.
Take advantage of these potential growth avenues!
______________________________________________________________________________________
Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.