Sai Life Sciences, MobiKwik, Vishal Mega Mart to launch IPOs next week; ₹11,614 cr at stake

The primary market is going to be action packed next week as three highly anticipated initial public offerings (IPOs) will hit Dalal Street next week. The issue of Sai Life Sciences, MobiKwik, Vishal Mega Mart will open for subscription between December 11-13, looking to collectively raise ₹11,614 crore through public listing of shares on the domestic bourses. The cumulative IPO size comprises fresh issue component of ₹3,614 crore, representing 31% of the total issue.

Supermarket chain operator Vishal Mega Mart aims to garner ₹8,000 crore via IPO, which is completely an offer for sale (OFS) of 102.56 crore shares by promoter entity. Fintech firm MobiKwik eyes to raise ₹572 crore by issuing 2.05 crore fresh equities. On the other hand, the issue of Sai Life Sciences is a combination of fresh issue worth ₹950 crore and offer for sale worth ₹2,092.62 crore.

As of November 30, 2024, 76 companies raised record ₹1.34 lakh crore via IPO route, which is highest ever in any calendar year in India's primary market history. The list include the largest-ever issue of ₹27,870.16 crore by Hyundai Motor India. Out of 76 IPO listed in CY24, 63 are trading above their issue price.

Here’s all you need to know about upcoming IPOs.

One MobiKwik System

Founded by Bipin Preet Singh and Upasana Taku, the digital payment solutions company has fixed the price band at ₹265-₹279 per equity share for its maiden IPO. The IPO is entirely a fresh issue of up to ₹572 crore and with no offer of sale component. Investors can bid for a minimum of 53 equity shares and in multiples thereafter.

The proceeds from its fresh issuance will be utilised to the extent of ₹150 crore for funding organic growth in its financial services business; ₹135 crore for funding organic growth in its payment services business; ₹107 crore for Research and development investment in data, ML and AI and product and technology; ₹70.28 crore for capital expenditure for its payment devices business; and general corporate purposes.

Sai Life Sciences

The IPO of healthcare-focused firm is a mixture of fresh issue of 1.73 crore shares worth ₹950 crore and offer for sale of 3.81 crore shares aggregating to ₹2,092.62 crore, being offered at a price band of ₹522-549 per share. The minimum lot size for an application is 27 shares and in multiple thereafter.

Established in 1999, Sai Life Sciences is one the fastest-growing contract research, development, and manufacturing organisations (CRDMO) among listed Indian peers. The Hyderabad based firm researches, develops, and manufactures small-molecule new chemical entities and offers tailor-made services to biotech firms and global pharma companies.

Vishal Mega Mart

The highly anticipated initial public offering (IPO) of supermarket chain operator will be issued at a price band of ₹74-78 per share. At the upper price band of ₹78, the company's market capitalisation is estimated to be around ₹36,120 crore. The issue is entirely an offer-for-sale (OFS) of shares by promoter Samayat Services LLP, which holds 96.55% stake in the supermart company. There will be no fresh issue of equity shares, which means the company will not receive any fund from the IPO proceeds.

Vishal Mega Mart filed its IPO document with the capital market regulator SEBI in July this year through the confidential pre-filing route. The company submitted its updated draft filing in October, which was approved by the SEBI on September 25, 2024. On the financial front, tt reported a total income of ₹5,053.41 crore in H1 FY25, up 19.3% from ₹4,235.44 crore in the same period last year. Net profit grew 30% to ₹254.14 crore from ₹195.36 crore in the corresponding period last year.