Upcoming IPOs of India in 2021

Five companies have already made their maiden offers in 2021, including PSU NBFC, IRFC and Brookfield India REIT. After a strong performance by the IPO segment in 2020, experts and analysts are hopeful that the buoyancy will continue in the new year. If we look at the list of upcoming IPOs in 2021, it contains several big names from different industries, including some Indian tech-startup giants.

Upcoming IPOs in 2021

The market trends are expected to remain strong about the forthcoming IPOs. See the upcoming IPO list below:

IPO Tentative Issue Size (in Rs. Crores) Tentative Issue Date
LIC 70,000 2021-22
Zomato 8,250 2021
ESAF Small Finance Bank 976 June 2021
Shyam Metalics and Energy 1,107 14 June 2021
Sona Comstar 6,000 June 2021
Indian Pesticides 800 June 2021
Arohan Financial 1,800 June 2021 / July 2021
KIMS Hospitals 200 + June 2021 / July 2021
Seven Islands Shipping 600 June 2021 / July 2021
Dodla Dairy 800 June 2021 / July 2021
Glenmark Lifescience 1,200 July 2021 / August 2021
Fincare Small Finance Bank 1,330 July 2021 / August 2021
Nykaa ₹ To Be Updated 2021-22
Bajaj Energy 5450 2021
Studds Accessories  450 2021
Apeejay Surrendra Park Hotel 1,000 2021
Annai Infra Developers 200-250 2021
SAMHI Hotels ₹ To Be Updated 2021
Nuvoco Vistas 5,000 2021
HDB Financial ₹ To Be Updated 2021
Muthoot Microfin 700 2021
Harsha Engineering 370 2021
Shriram Properties  1250 2021
Narmada Biochem 90 2021
Hinduja Leyland Finance 500 2021
Srei Equipment Finance 1100 2021
Ami Organics  ₹ To Be Updated 2021
Aakash Educations ₹ To Be Updated 2021
Century Metal Recycling ₹ To Be Updated 2021 
*Both, the issue size and date, is tentative and might vary once the issue goes live in the markets.

Know more about: Upcoming IPO in June 2021

The upcoming IPO list looks long. Here is a glimpse of all the companies that are planning to debut in the public market.

Life Insurance Corporation India (LIC) Ltd. IPO

Finance Minister, Nirmala Sitharaman cleared the roadblocks of LIC divestment, and now the largest state-owned life insurance company is set to issue initial public offering shares in 2021. Once launched, it will be the largest IPO launch in India close to a value of Rs 7,000-8,000 crores. The Union government plans to raise Rs 2.1 lakh crores from the divestment of LIC and IDBI Bank will offload around 90,000 shares of LIC.

Zomato IPO

The technology unicorn is a leading online food delivery platform and restaurant aggregator. They have filed with SEBI to launch an IPO of Rs. 8,250 crore. Zomato operates in India and 24 other countries, including Sri Lanka, Slovakia, and South Africa, reaching out to 10,000 cities. Along with Swiggy, Zomato owns a significant share in India's online food delivery segment. The IPO is planned for FY22.

ESAF Small Finance Bank IPO

ESAF Small Finance Bank plans to raise Rs. 976.24 crores from their public offer. The offer contains Rs 800 crores of primary issues. The rest is an offer for sale from promoters. ESAF Small Finance Bank is relatively new to the small finance segment, starting in 2016. They have grown fast in the last four years, and currently, have 400 branches and over 4000 employees. On 31st March 2019, their after-tax profit stood at Rs 111.11 crores.

Shyam Metalics and Energy IPO

Kolkata-based steel manufacturing company Shyam Steel is making a market debut with Rs 909 crores IPO with a mix of Fresh Issue and Offer for Sale (OFS). The IPO will open on 14 June and will close on 16 June at a price band of Rs 303 - 306.

Sona BLW Precision Forgings Limited (Sona Comstar) IPO

Sona BLW Precision Forgings Limited IPO (Sona Comstar IPO) will open on 14 June and will close on 16 June. This is a Rs. 5550 crore IPO with a price band of Rs.285 to Rs.291 per share. The company is a leader in auto component manufacturing, catering to the global EV market. It produces highly engineered, mission-critical components and supplies to OEM manufacturers in the US, Europe, China, and India.

Indian Pesticides IPO

The agro-chemical technical company has received SEBI's approval for Rs 800 crore IPO. They were one of the rapidly companies in its sector in India in terms of volume in FY 20. Indian Pesticide is the sole producer of formulations like folpet and thiocarbamate herbicide in India (among the top five globally).

Arohan Financial IPO

Arohan Financial has filed with SEBI for Rs 1800 crore IPO. The small finance lender plans to collect Rs 850 crores from fresh shares. The remaining comprises secondary components of 2,70,55,893 equity shares. Arohan Financial specialises in offering microfinancing to the unbanked population. According to a 2020 report, they had 2.21 million active borrowers in 17 states, including twelve of India’s fourteen low-income states.

KIMS Hospitals IPO

KIMS is a multi-specialty, multi-disciplinary corporate healthcare group operating in Telangana. It offers specialty and super-specialty treatment in 25 branches of healthcare with a focus on tier- 1, 2, and 3 cities with nine hospitals under its brand. The corporation had filed DRHP for Rs. 700 crore IPO.

Seven Islands Shipping IPO

Seven Islands Shipping, operational since 2003 in the segment of cargo shipping for crude oil, is the third-largest seaborne logistic company in India in terms of deadweight tonnage. They manage a fleet of twenty vessels with a total deadweight capacity of 1,105,682 metric ton.

Dodla Dairy IPO

Dodla Dairy is a leading player in the dairy segment dominating the south Indian states. According to a CRISIL report, they were the second-largest private players in the industry in December 2020 regarding daily raw milk procurement. They have filed for an IPO worth Rs. 800 crores.

Glenmark Lifesciences IPO

The IPO will contain primary issues of Rs 1,160 crores and another part of 7.31 million OFS shares from parent Glenmark. They are a leader in producing active pharmaceutical ingredients (API). In 2019 and 2020, revenue from API production was 84.16 and 89.87 percent, respectively.

Fincare Small Finance Bank IPO

The Bengaluru based small finance bank is eyeing an IPO size of Rs 330 crore. Starting in 2017, the bank achieved the highest growth rate between FY18 and FY20. It offers a hoard of banking products, including savings account, current account, FD, recurring deposits, NRI's FD, microloans, gold loans, loan against property, two-wheeler loan, and institutional finance.

Nykaa IPO

Nykaa is one of the tech-startups eyeing the public investment route in 2021-22. Founder Falguni Nayar said to a newspaper source that Nykaa might hit the market with a USD 4.5 billion IPO offer. It initially planned to launch a public offer during 2020 but delayed it due to COVID-19 pandemic. Currently, the company is looking to achieve overall profitability before it hits the IPO route. It has recently raised an undisclosed amount which valued the company at USD 1.8 billion.

Bajaj Energy IPO

The IPO size of Bajaj Energy is expected to be around Rs 5,450 crores, including Rs 5,150 crores fresh shares. The company is one of the major private limited thermal power generation companies with a gross installed capacity of 2,4330 MW. The company is looking to acquire Lalitpur Power's 1980 MW plant from the funds from the proceeds. The remaining fund will be used to meet other general expenses.

Studds Accessories IPO

The company manufactures helmets, motorcycle accessories and riding gears. In 2020 the company had approximately 30 percent market share. It aims to increase its portion to 40 percent in the next three years.

Apeejay Surrendra Park Hotels IPO

The hotel chain may raise Rs 1,000 crores from the market in IPO. The issue will contain fresh scrips worth Rs 400 crores and offer for sale of up to Rs 600 crores worth of shares.

Annai Infra Development IPO

The company operates in areas of engineering, procurement and construction of water management and irrigation segments. The approximate IPO size is Rs 200-250 crores.

SAMHI Hotels IPO

SAMHI is an asset manager and hotel owner that operates in the institutional ownership model. Courtyard and Fairfield by Marriott in Bengaluru and Four Points by Sheraton Visakhapatnam are among the 27 hotels across 12 Indian cities that the company is currently managing. The approximate IPO size of Rs 1,800-2,00 crores will contain fresh issues of Rs 1,100 crores.

Nuvoco Vistas IPO

Nuvoco Vistas Corp is the cement and building material manufacturing unit of Nirma. The company has filed for a Rs 5000 crores IPO. Nuvoco reached its current position in the market after Karshanbhai Patel, owner of Nirma and Nuvoco bought Lafarge's India arm and the cement division of Kolkata based Emami.

HDB Financial IPO

The non-banking financial arm of HDFC Bank enjoys a robust market valuation due to the strong backing of HDFC Group, which owns a 95.1 percent stake in the business. They have decided to watch the market amid rising cases of COVID-19 before floating the IPO.

Muthoot Microfin IPO

The company is one of the fastest-growing NBFC-MFI and the fifth largest in the nation. They focus on providing micro, sustainability loans to women in the rural sectors. According to a CRISIL report, they had 1.2 million active borrowers in FY18. Their IPO will contain both fresh issues and offered shares from promoters.

Harsha Engineering IPO

Harsha Engineering is the most significant player in its domain in making bearing cages occupying 50 percent of the market share in India. Harsha Engineering enjoys a 5-6 percent share in the global market in the segment of organised brass, steel, and polyamide cages. They are looking to raise Rs 370 crores in fresh issues and will also release 1,325,000 shares in secondary components.

Shriram Properties IPO

Bengaluru-based Shriram Properties will soon join others in the public market. They have submitted papers to raise Rs 800 crores from the market, containing both fresh equities and offer for sale shares. The company dominates the south-Indian market with a presence in several cities, although Bengaluru and Chennai are its two major markets. Among other cities, they have a presence in Kolkata. The realtor builds mixed-used properties and specialises in mid-market affordable houses.

Narmada Biochem IPO

They are producers of a wide variety of chemical and organic fertilisers. Over the years, the company has expanded its operation and product base and enjoys leadership positions in several product segments. Their IPO will be a combination of both primary and offer for sale shares.

Hinduja Leyland Finance IPO

It is the financing arm of the commercial vehicle market Ashok Leyland. HLF is looking to raise around Rs 500-700 crores from the IPO market. The offer containing both primary and secondary components will find its way to the market in the near to mid-term.

Srei Equipment Finance IPO

Kolkata-based Srei Equipment Finance offers loans for buying equipment that are used in construction and infrastructure development projects. They are looking to raise Rs 2000 crores from the IPO market.

Ami Organics IPO

Ami Organics develops over 250 intermediates for active pharmaceutical ingredients (APIs). Their IPO will contain approximately 3,500,000 equity shares.

Aakash Educations IPO

Aakash Educational Services provides comprehensive test preparatory services to students appearing for the 12th board exam and other competitive exams. They also offer foundation courses to students between class 8 and 10. The first centre was formed in 1988, and in 2018 Aakash Education was operating in 103 cities through 170 classroom centres.

Century Metal Recycling IPO

CMR commenced its business in 2006, and from the beginning, it maintained high paced growth by leveraging the latest technology. It is the largest in the nation producing aluminium and zinc die-cast alloys with a combined capacity of 218,000 metric tonnes.

Recent IPOs in 2021

IPO Issue Size (in Rs. Crores) Price Band Issue Date Lot Size
PowerGrid Infrastructure Investment Trust InvIT ₹ 7,734.99 Cr ₹99 -  ₹100 29-Apr-21 1100
Macrotech Developers Limited ₹ 2,500 Cr ₹483 - ₹486 07-Apr-21 30
Barbeque Nation Hospitality Limited ₹ 452 Cr - ₹ 453 Cr ₹498 - ₹500 24-Mar-21 30
Nazara Technologies Limited ₹ 582 Cr - ₹ 583 Cr ₹1100  -₹1101 17-Mar-21 13
Suryoday Small Finance Bank Ltd ₹577 Cr - ₹581 Cr ₹303 - ₹305 17-Mar-21 49
Kalyan Jewellers ₹ 1,175 Cr ₹86 -  ₹87 16-Mar-21 172
Craftsman Automation Limited ₹823 Cr - ₹824 Cr ₹1488 - ₹1490 15-Mar-21 10
Laxmi Organics ₹600 Cr ₹129 - ₹130 15-Mar-21 115
Anupam Rasayan ₹760 Cr ₹553 - ₹555 12-Mar-21 27
Easy Trip Planners Limited ₹510 Cr ₹186 - ₹187 08-Mar-21 80
MTAR Technologies ₹595 Cr - ₹596 Cr ₹574 - ₹575 03-Mar-21 26
Heranba Industries ₹625.24 Cr ₹626 - ₹627 23-Feb-21 23
Rail Tel Corporation Of India Limited ₹ 811 Cr - ₹ 819 Cr ₹93 - ₹94 16-Feb-21 155
Nureca Limited ₹ 100 Cr ₹396 - ₹400 15-Feb-21 35
Brookfield India REIT ₹3,800.00 Cr ₹274 - ₹275 03-Feb-21 200
Stove Kraft Limited ₹ 411.80 Cr - ₹ 412.63 Cr ₹ 384 - ₹385 25-Jan-21 38
Home First Finance Company India ₹1,153.72 Crore ₹517 - ₹518 21-Jan-21 28
Indigo Paints Limited ₹1,168 Cr - ₹1,169 Cr ₹1488 - ₹1490 20-Jan-21 10
Indian Railway Finance Corporation ₹ 4,455 Cr - ₹ 4,633 Cr ₹25 - ₹26 18-Jan-21 575

PowerGrid Infrastructure Investment Trust InvIT IPO

Powergrid Corporation of India, belonging to the 'Maharatna' category, is a PSU responsible for constructing, managing, and distributing power supply across the nation. They are the largest power transmission company in India. Powergrid launched Invit IPO to raise capital funding to finance its infrastructure projects. The offer was subscribed 4.83 times in the retail segment in April 2021.

Macrotech Developers (Lodha Developers) Limited IPO

The Rs 2,500 crore IPO from Lodha received 1.4 times subscription on the last day. Macrotech released its issues in the price band of Rs 483-486.

Barbeque Nation Hospitality Limited IPO

Barbeque Nation IPO is backed by the heavyweight Rakesh Jhunjhunwala. The Rs. 453 crore IPO had equity shares priced at Rs.498-Rs.500 with a market lot of 30 shares. It received 5.98 times subscription on the last day.

Nazara Technologies IPO

Nazara Technologies IPO received 175.46 times subscription, making it the second most successful IPO launch in 2021 after MTAR Technologies IPO. Investors oversubscribed in all three segments of qualified institutional buyers, non-institutional investors, and retail.

Suryoday Small Finance Bank IPO

Suryoday Small Finance Bank is operative in Maharashtra, Gujarat, Madhya Pradesh, Tamil Nadu, Delhi, Karnataka and some union territories. It plans to launch an IPO worth Rs 400 crores containing two crores equity shares (1.6 crores in fresh equities and rest in OFS shares).

Kalyan Jewellers IPO

Known jewellery brand Kalyan Jewellers said it is planning to raise Rs 1,750 crores from the market through IPO. The offer will contain both fresh shares and offer for sales scrips from the current promoters. Founded in 1993, the brand has 137 showrooms spread in India and Gulf countries.

Craftsman Automation IPO

The auto component manufacturer's IPO offer will contain fresh issues worth Rs 150 crores and 45.21 lakh shares in OFS.

Laxmi Organic Industries IPO

The IPO size is Rs 800 crores, containing Rs 500 crores of fresh issues and remaining OFS shares. Laxmi Organics is a specialty chemicals company. Its peers Rossari Biotech and Chemcon Specialty made stock exchange debut in 2020, and both were oversubscribed 80 and 149 times respectively.

Anupam Rasayan IPO

The Indian IPO market saw another successful launch with Anupam Rasayan IPO that hit the market in March and was subscribed 31 times. The company is engaged in cotton synthesis and specialty chemicals production with two business verticals - life science-related specialty chemicals and other specialty chemicals.

Easy Trip Planners IPO

Easy Trip Planners' IPO received a whopping 159 times subscription in its three day subscription period. Easy Trip Planners is the second largest online travel agent in the nation regarding gross revenue earning. The agency offers a host of services related to ticket booking, hotel booking, holiday planning, packages, bus tickets, cab booking, and value-added services like travel insurance.

MTAR Technologies IPO

MTAR Technologies is a leader in the precision engineering industry, involved in producing mission-critical precision components. The public market debutant made a solid listing with a healthy oversubscription of 200.79x.

Heranba Industries IPO

Heranba Industries launched a Rs 625 crores IPO in the price range of Rs 626-627 to increase its post-issue implied market capital to Rs 2,505-2,509 crore. Gujarat based Heranba Technologies produces crop protection chemicals with clear market leadership in developing synthetic pyrethroids, like cypermethrin, deltamethrin, and lambda-cyhalothrin.

Railtel Ltd. IPO

RailTel plans to raise Rs 700 crores from the market by divesting 8.66 crores offer for sale shares. The company is one of the Mini Ratna companies involved in providing network and infrastructure services to railways.

Nureca Limited IPO

Operating in the space of wellness and healthcare, Nureca is one of the fastest-growing business in the domain. The IPO was subscribed 39.93 times and received 166.65 times subscription in the retail segment.

Brookfield India REIT IPO

Brookfield REIT, backed by Canadian alternative investment company Brookfield Asset Management, gained 2.4 percent listing gain against its issue price of Rs 275. The offer received 7.94x subscriptions on debut.

Stove Kraft Limited IPO

Kitchen appliance manufacturer and supplier Stove Kraft's IPO gained 21 percent on the listing. The IPOs were launched in the price band of Rs 385 and debuted in BSE at Rs 467, pegging the company's market capitalisation value to Rs 1,429 crore.

Home First Finance Company IPO

Mortgage financier, Home First Finance raised Rs 1,153.72 crores in IPO by launching its shares in the price band of Rs 517 and Rs 518. The company targets first time home buyers in the middle and low-income group sections in the urban areas. It has a strong presence in Maharashtra, Gujarat, Karnataka and some other states of India.

Indigo Paints IPO

Sequoia Capital backed Indigo Paints IPO opened on January 20, containing fresh scrips and OFS shares from promoters and investors. The issue size was Rs 1,176 crores with fresh issues worth Rs 300 crores.

Indian Railway Finance Corporation (IRFC) IPO

The fifth of the railway companies launched IPO offers as the first company in 2021. The Union government decided to divest five of the railway companies in 2017. The proceed from the IPO, comprising fresh issues worth 118.8 crores and OFS, will help bolster the capital base to meet the railways' borrowing requirements in the future.

IPO Performance

IPO in 2020: At a Glance

Over the last few years, the Indian IPO segment has gained prominence as a robust, emerging marketplace. 2020 particularly proved to be a good year for companies launching IPOs despite being a pandemic hit year.

Several IPOs launched during 2020 received massive oversubscription. Mrs Bectors IPO, the last IPO of 2020, received a whopping 198 times subscription and around 15 companies hauled south of Rs 25,000 crores during the year.

Company Issue Size (in Rs. Crores) Price Band IPO Date Lot Size
Antony Waste Handling Cell Limited ₹ 300 Crore  ₹ 313 - ₹ 315 21-Dec-20 50 
Mrs. Bectors Food Specialities Limited ₹ 540.54 Cr  ₹ 286 - ₹ 288 15-Dec-20 50 
Burger King India Limited ₹ 804 Cr - ₹ 810 Cr ₹ 59 - ₹ 60  02-Dec-20  250
Gland Pharma ₹ 6,445 Cr To ₹ 6,480 Cr  ₹ 1490 - ₹ 1500 09-Nov-20 10 
Equitas Small Finance Bank ₹ 510 Crore To ₹ 518 Crore  ₹ 32 - ₹ 33 20-Oct-20 450 
UTI AMC ₹ 2152 Crore To 2160 Crore   ₹ 552 - ₹ 554 29-Sep-20 27
Mazagaon Dock ₹ 413 Crore To 444 Crore  ₹ 135 -  ₹ 145 29-Sep-20 103 
Computer Age Management Services (CAMS) ₹ 2,244.33 Crore  ₹ 1229 -  ₹ 1230 21-Sep-20  12
Chemcon Speciality Chemicals Ltd. ₹ 317 Crore To 318 Crore ₹ 338 -  ₹ 340  21-Sep-20 44 
Route Mobile Limited ₹ 600 Crore ₹ 345 - ₹ 350  09-Sep-20 40 
Happiest Minds Technologies ₹ 698 - 702 Cr  ₹ 165 - ₹ 166 07-Sep-20  90
Mindspace Business Parks REIT ₹ 4,500 Cr. ₹ 274 - ₹ 275  27-Jul-20 200 
Rossari Biotech Limited ₹ 494 - 496cr ₹ 423 - ₹ 425  13-Jul-20 35 
SBI Cards And Payment Services Ltd. ₹ 10,340.79 Cr  ₹ 750 - ₹ 755 02-Mar-20 19 

It won't be wrong to mention that COVID-19 outbreak put a temporary damper in Indian IPO performance. There was four months-long dry spell between April and June when there were no IPO launches. Several companies during this time also delayed their plans to enter the market. However, once lockdown restrictions were lifted, the market picked up fast. The strong turnaround gave hope to companies and investors, which resulted in heavy participation in some of the offers.

The Conclusion

The market is showing strong trends of recovery as COVID-19 vaccine has hit the market. More companies will try to catch the tide when investor sentiment is up, and the market is buoyant with high liquidity.

Around 30 companies are expected to go public in 2021. The above list contains names of some of those. However, it is a list of tentative IPOs and possibly will change as new updates will come. We suggest you keep visiting the page from time to time for more information on upcoming IPOs.

However, before investing in any IPO, always read the prospectus carefully and run due diligence to weigh the pros and cons of the offer.

FAQs on upcoming IPOs

How can one apply in upcoming IPOs online?

The online process is a simplified one to apply for IPOs. Investors can apply from the website or mobile app of stockbrokers, using UPI as a payment option.
Log in to the console and enter required and UPI handle details before placing the bid. All IPO application is supported by ASBA or Application Supported by Blocked Amount, which allows the bank to block the amount for the bid value until the IPO.

Where do I get an application form for an Upcoming IPO?

You need to download the ASBA form to apply for the IPO. There are two ways to get ASBA form – a form provided by the broker you apply through. And secondly, downloading a blank form from the NSE or BSE website.

What do you mean by IPO funding?

IPO funding is a loan offered by NBFCs to retail investors, high net worth individuals, and corporate entities to apply for initial public offerings. The applicant pays only a small amount as margin; the lender funds the rest.

Can I revise or cancel my IPO application?

Investors can modify or cancel an application within the bidding period. Here is the process to follow.
  • The investor has to fill in a revision form to modify the application and give it to the syndicate member.
  • To withdraw IPO application, go to the order book and select the IPO to cancel. The bank will release the blocked amount within two working days.
  • What is IPO Issue Size?

    The IPO size refers to the total monetary value of the IPO, calculated by multiplying the total number of shares by the price per share.

    How to Subscribe to an IPO?

    To apply from Angel Broking page
  • Log in to the console and select IPO from the list
  • Select IPO you want to apply from the dropdown
  • Enter UPI id and click submit to place your bid
  • You will receive a payment mandate in your UPI id. Make the payment
  • To complete the process, click on the checkbox that suggests you have read and understood the RHP before applying
  • How to check an IPO Start Date?

    Investors can track upcoming IPO dates on the websites of BSE and NSE. The stock exchanges publish a list of IPO listing date vide notice which indicates the dates when an IPO becomes available for trading.

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