Fri. Mar 31st, 2023
Upcoming IPOs in March 2023

In the short and long run, the upcoming IPOs are excellent investments. Companies that receive new investments are more likely to grow and increase in share value. But, before investing in an upcoming IPO, you should be conscious of the risks involved. For example, Hindenburg’s charges against the Adani Group triggered a significant market panic and a full collapse of all Adani group companies’ stocks. It also resulted in the termination of Adani Enterprises’ FPO.

So far, as March arrives, the situation may change. If it happens, here’s a list of companies that come up with upcoming IPOs in March 2023.

List of Upcoming IPOs in March 2023

Company NameIssue DatePrice RangeIssue Size
ResGen IPO28 Feb 2023 – 02 March 2023₹45 – ₹47₹28.20 Cr
Penna Cement Industries Limited IPOTo be announcedTo be announced₹1,550 Cr
Navi Technologies IPOTo be announcedTo be announcedTo be announced

After you’ve seen a few upcoming IPOs expected to feature in March 2023, here’s a brief overview of the companies and their businesses.

1> ResGen IPO

About Company:

ResGen Ltd, founded in 2018, is engaged in the process of producing Pyrolysis Oil from various types of waste plastics. The headquarters of the company is situated in Mumbai. The company’s goal was to make environmentally friendly solutions commercially viable and highly scalable.

The company’s products focus on PYROLYSIS OIL.  ResGen was founded on the concept of transforming plastic trash into a fuel replacement. The company has devised an amazing, eco-friendly solution that maximizes productivity by utilizing each by-product. This provides an alternative application for not only plastic waste but also an additional fuel solution.

ResGen Limited IPO Objective:

  • Acquisition of land for the establishment of a new manufacturing unit
  • Woking Capital Requirements
  • General Corporate Purposes

2> Penna Cement Industries Limited IPO

About Company:

The Hyderabad-based cement company, founded in 1991 and promoted by P Prathap Reddy, Pioneer Builders, and P R Cement Holdings, is one of India’s largest privately held cement companies and a top integrated cement operator in terms of cement production capacity. It has a strong brand presence in India’s southern and western regions.

It has four integrated manufacturing facilities and two grinding units spread across Telangana, Andhra Pradesh, and Maharashtra with an aggregate capacity of 10 million tonnes per annum (mmtpa) in 2021, with a capacity of 16.5 mmtpa expected by FY24. It met 53% of its power requirements from captive sources in FY21.

Between FY21 and FY26, cement consumption in India is predicted to expand at a CAGR of 6-7 percent due to infrastructure developments, a solid resurgence in housing demand, and various government initiatives.

Penna Cement Industries Limited IPO Objective:

  • For debt repayment (Rs 550 crore) and capital expenditure (Rs 105 crore) for its KP Line II Project.
  • The net proceeds will be utilized to pay capital expenditures and to update production plants.
  • A waste heat recovery plant in Talaricheruvu and another in Tandur will cost Rs 110 crore and Rs 130 crore, respectively.

3> Navi Technologies IPO

About Company:

Navi Technologies is a technology-driven financial goods and services company based in India that focuses on the country’s digitally connected young middle-class population. Navi provides personal loans, home loans, and general insurance.

The co-founder and former chairman of Flipkart decided to switch careers in 2018, immediately after exiting the e-commerce firm. Through Navi Technologies, Sachin Bansal entered the expanding financial industry. Bansal’s fintech aspires to be a disruptor in this field.

Navi Technologies IPO Objective:

  • For General Corporate Purposes
  • To invest in Navi Finserv Pvt Ltd (NFPL) and Navi General Insurance Limited (NGIL)

Conclusion:

Now, the companies mentioned above may or may not issue an IPO in March 2023. It is all speculation at this stage. Further information will be available once the company files its final Red Herring Prospectus with the Securities and Exchange Board of India (SEBI).

If you want to invest in upcoming IPOs in March 2023, open a Demat account with a reputable online broker immediately.

IPO investing is similar to stock investing. You must research each company whether it fulfills your investment objectives.

By Vivz

Leave a Reply

Your email address will not be published. Required fields are marked *