List of Upcoming IPOs in February 2022

5paisa Research Team 5paisa Research Team 9th December 2022 - 11:29 am

With uncertainties over the US Fed policy stance and the Indian Union Budget, January was a tepid month for IPOs. However, with the Budget out of the way, the IPO market is likely to get back to normal momentum. Year 2021 saw 65 IPOs raising over Rs.1.31 trillion with 64 of these issues getting oversubscribed. Let us turn to what February 2022 holds in store.

How will IPOs pan out in February 2022?

Year 2022 will be the year when the LIC IPO will have its tryst with capital markets and the Finance Minister has confirmed in the Union Budget discussion that the LIC IPO will happen affirmatively in March 2022. Apart from the Vedant Fashions IPO that is already open, there are 12 more upcoming IPOs slated to hit the market in Feb-22.

Upcoming IPOs in February 2022

Company Name	IPO Size (Estimated)	Timing of IPO
National Stock Exchange	Rs.10,000 crore	February 2022
Ruchi Soya	Rs.4,300 crore	February 2022
Go Airlines	Rs.3,600 crore	February 2022
Vedant Fashions	Rs.3,149 crore	Closes 08-Feb
MobiKwik	Rs.1,900 crore	February 2022
Arohan Financial Services	Rs.1,800 crore	February 2022
Le Travenues Technologies (IXIGO)	Rs.1,600 crore	February 2022
Penna Cements	Rs.1,550 crore	February 2022
Paradeep Phosphates	Rs.1,255 crore + 12 cr shares OFS	February 2022
ESAF Small Finance Bank Ltd	Rs.998 crore	February 2022
Tracxn Technologies	Rs.500 crore	February 2022
Skanray Technologies	Rs.400 crore + OFS	February 2022
ESDS Software Ltd	Rs.322 crore + OFS	February 2022

Here is a quick summary of companies expected to hit the IPO market in the month of February 2022. However, this is only an indicative list as of now.

1. National Stock Exchange

India’s pioneer in online trading and one of the largest stock exchanges in the world in terms of derivative volumes, NSE will hit the IPO market after a long delay. The NSE has finally got the approval from the regulator to go ahead with its Rs.10,000 crore IPO. As per extant rules, stocks exchanges cannot list in their own exchanges so NSE may look at multiple listing on the BSE and also on an international exchange.

2. Ruchi Soya

Ruchi Soya plans to hit the Follow-on Public Offer (FPO) market with a Rs.4,300 crore issue, for which SEBI approval has already been received. Ruchi Soya had been acquired by Patanjali in 2019. It is one of India’s largest oil meal exporters. Its popular brands include Mahakosh Oil, Sunrich Oil, Ruchi Gold, Nutrela Soya Foods, Ruchi Star Oil etc.

3. Go Airlines

The Rs.3,600 crore Go Airlines IPO will comprise entirely of a fresh issue. The issue proceeds will be used for reduction of debt including payables like the fuel dues to IOCL and lease rentals on aircraft. Go Air, as per latest DGCA data, has 9.1% market share in domestic routes.

4. Vedant Fashions

The issue of Vedant Fashions, the owner of Manyavar and other celebration wear men’s brands, opened on 04-February and will close for subscription on 08-February. Vedant Fashions IPO is a complete offer for sale (OFS) worth Rs.3,149 crore. The company has established a strong retail yet exclusive presence across India using its franchisee model.

5. MobiKwik

The Rs.1,900 crore MobiKwik IPO comprises of a fresh issue of Rs.1,500 crore and an OFS of Rs.400 crore. The issue was to be launched in the Dec-21 quarter but was postponed after the weak listing of Paytm. MobiKwik offers a robust payment wallet as well as a special BNPL (buy now pay later) digital plan for customers and for merchants.

6. Arohan Financials

The Rs.1,800 crore IPO will comprise of a fresh issue of Rs.950 crore and an offer for sale of Rs.850 crore. Arohan is an NBFC and is also into microfinance serving the unpenetrated segments of the market. The IPO will help boost its capital adequacy.

7. Ixigo (Le Travenues Technologies)

The Rs.1,600 crore IPO will comprise of a fresh issue of Rs.850 crore and an offer for sale of Rs.750 crore. It is one of the few artificial intelligence based platforms for booking flights, trains and hotels and has been around for over 14 years now. While it is in the travel business, its business model is more B2B in nature.

8. Penna Cement

The Rs.1,550 crore IPO will comprise of a fresh issue of Rs.1,300 crore and an offer for sale of Rs.250 crore. This is the second attempt of this Hyderabad based cement company and will be used to reduce debt and for expansion.

9. Paradeep Phosphates

The Paradeep Phosphates IPO will comprise of a fresh issue of Rs.1,255 crore and an offer for sale of 12 crore shares by existing shareholders. Paradeep, based out of Odisha, is into the manufacture of phosphatic fertilizers.

10. ESAF Small Finance Bank

ESAF SFB is based out of Kerala and specializes in micro loans. The Rs.998 crore IPO comprises of a fresh issue of Rs.800 crore and an offer for sale (OFS) of Rs.198 crore. The fresh issue portion will be used to boost its capital adequacy and to make funds available to on-lend in its core lending business.

11. Tracxn Technologies

The IPO will comprise of an offer for sale (OFS) of 386.72 lakh shares by the promoters and early investors. Tracxn offers a subscription service for investment bankers, corporates and PE funds to track the private and unlisted companies in emerging technology space.

12. Skanray Technologies

The IPO of Skanray Technologies will comprise of a fresh issue of Rs.400 crore and an offer for sale of 141.06 lakh shares with price to be decided. The company focuses on the Indian medical devices market and designs, develops and manufactures medical devices.

13. ESDS Software

The ESDS Software IPO was expected to hit the IPO market in the first half of January but was put off to Feb-22 amidst negative market sentiments. ESDS issue will comprise of a fresh issue of Rs.322 crore and an offer for sale of 2.15 crore shares. ESDS is a Nashik based cloud services company catering to organizations in the private and the government sector.