Upcoming IPOs in India in 2024

In this article, we will discuss

• Upcoming IPOs in India in 2024
• Conclusion

As we move through 2024, it is clearly evident that the Indian IPO market is buzzing with activity. Our financial markets have already seen several of the best IPO stocks, like those of Ola Electric, First Cry, and Emcure Pharmaceuticals. The success of these initial public offerings showcases the country's robust economic growth and the ambitions of its burgeoning corporate sector.

One of the highlights of the current IPO market in India is that the increased activity is not just limited to large corporations but also many small and medium enterprises (SMEs). In fact, over the years, there has been a major influx of public issues from companies in the SME segment, most of which have delivered positive returns post-listing.

Investing in IPO shares is easier than ever with the Samco Trading App, where you can apply for public issues with just a few clicks. In addition to applying for public issues, you can also keep an eye out for upcoming IPOs and track the status of recently listed stocks.

In this article, we are going to examine a few of the upcoming IPO stocks that are currently lined up to hit the Indian markets in 2024. In addition to briefly examining the business models of these companies, we will also look into the key IPO details, such as the listing dates, pricing, and issue size, among others.

Upcoming IPOs in India in 2024

Among the notable public issues on the horizon, there are currently three companies that stand out for their unique offerings and growth potential. Here is a closer look at each of these companies.

• Interarch Building Products Limited

Incorporated in 1983, Interarch Building Products Limited is one of the major players in the pre-engineered steel construction industry and has carved out a significant niche for itself in a rapidly growing market.

The company offers design and engineering, manufacturing, and on-site project management services for the installation and erection of pre-engineered steel buildings (PEBs). The PEB offerings of the company are not limited to standard industrial structures. In fact, Interarch has delivered fully-built PEBs for a wide range of applications, from multi-level warehouses for e-commerce giants to paint production lines, and from FMCG manufacturing units to large-span indoor stadiums.

In terms of operating revenue, Interarch ranks third among all of the pre-engineered steel building providers in India. As of March 31, 2024, the company had the second-largest aggregate installed capacity of 141,000 metric tonnes per year in the country.

With a track record of completing 677 PEB contracts from 2015 to 2024, Interarch has firmly established itself as a reliable player in the industry. Considering that the Indian PEB industry is projected to grow at a CAGR of 11% to 12% in the next 5 years, the company’s future prospects look promising.

Now that you are aware of the company’s business, let us look at the key IPO details as per the Red Herring Prospectus that was released on August 12, 2024.

• Brace Port Logistics Limited

Brace Port Logistics Limited is another one of the major IPO stocks to buy in 2024. Belonging to the SME segment, the company was incorporated recently in 2020 and is involved in providing comprehensive ocean cargo logistics services to clients across various industries.

As a subsidiary of Skyways Air Services Private Limited, Brace Port benefits from being part of the larger Skyways Group, which boasts an extensive global network spanning countries like Hong Kong, Vietnam, the UAE, Germany, and Bangladesh. This international presence gives the company a significant edge in providing cross-border shipment facilities and catering to a diverse, global clientele.

In addition to ocean cargo logistics, the company’s portfolio also extends to include air freight, warehousing facilities, special cargo services, and customs clearance services. Leveraging its comprehensive offerings, Brace Port Logistics aims to become a one-stop solution for businesses looking to streamline their supply chain operations.

The company’s impressively diverse client base covers multiple sectors such as medical supplies and pharma, sports goods, perishables, electronics, consumer durables, and automotive. This diversification not only spreads risk but also opens up cross-selling opportunities across different sectors.

One of the strengths of the company is its ability to establish long-standing relationships with its clientele. In fact, the top 10 clients of Brace Port Logistics accounted for 67.34% of the company’s total revenue as of March 31, 2024.

Here is a table outlining some of the crucial IPO details as per the Red Herring Prospectus that was released on August 06, 2024.

• Forcas Studio Limited

Established in 2010, Forcas Studio Limited plans to hit the Indian IPO market in 2024. Another company from the SME segment, Forcas is in the fast-paced business of fashion retail. The company's product range is extensive, covering denim, shirts, trousers, t-shirts, cotton pants, sportswear, fashion wear, and party wear.

Focusing on men’s clothing, Forcas Studio markets its products under the following brands: FTX, TRIBE, and Conteno. Additionally, it engages in white-label manufacturing for other prominent brands such as Landmark Group, V2 Retail, V-Mart Retail, Highlander, Kontail, and Cobb among others.

One of the competitive advantages of Forcas Studio is its multi-channel approach to sales. The company caters to customers pan-India through online e-commerce platforms and wholesale channels under its own brands. The transition to online business in 2021, especially, was a game-changer for the company. The digital pivot helped expand Forcas Studio's reach to over 15,000 pin codes in India.

Forcas Studio Limited is committed to providing affordable fashion. A testament to this is the pricing strategy, where the company markets almost 95% of its products below Rs. 499. This approach has helped it tap into India's mass market customers, particularly in smaller cities and towns.

Let us now look at the table outlining the key IPO details of Forcas Studio Limited as per the Red Herring Prospectus filed by it on August 08, 2024.

Conclusion

With this, you must now be aware of the upcoming IPOs in 2024. Now, it is important to note that investing in public issues may not always provide significant gains, at least right away. If you plan to make IPO investments, remember to thoroughly research the company and its fundamental metrics, which you can find on the prospectus. This way, you can make well-informed investment decisions.

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