Upcoming IPOs In December 2024: Vishal Megamart, Avanse Financial Services, More To Make D-Street Debut

As November comes to an end with several companies floating their public offers in the month, the last month of the year, December, is expected to be yet another busy period for the primary markets. Over 10 companies are gearing up to launch their initial public offerings in the last month of 2024, while seven others will list their shares on the stock exchanges.

Supermarket major Vishal Megamart, Blackstone-owned International Gemological Institute and education-focused non-banking finance company Avanse Financial Services are expected to launch their IPOs in December. Also in the list are Property Share Investment Trust REIT, Emerald Tyre Manufacturers Ltd., Nisus Finance Services Co., Rosmerta Digital Services, Sai Life Sciences, DAM Capital Advisors, Paras Healthcare, Mamata Machinery and Transrail Lighting.

Apart from the new issues, several IPO listings are also scheduled in December 2024. The companies scheduled to list their shares on the stock exchanges include Ganesh Infraworld, Suraksha Diagnostic, Agarwal Toughened Glass India Apex Ecotech, Abha Power and Steel, Rajputana Biodiesel and Rajesh Power Services.  

Here is a look at prominent upcoming IPOs in December.

Supermart major Vishal Mega Mart Ltd. is expected to float its IPO by mid-December, though dates for the same have not been announced. The company plans to mop up nearly Rs 8,000 crore through its public issue, which is entirely an offer for sale. Promoter Samayat Services LLP is looking to offload its stake in the company, as per the updated Draft Red Herring Prospectus filed with market regulator SEBI. Since the Vishal Mega Mart IPO is an entirely offer for sale issue, the proceeds will not go to the company.

US fund Blackstone-owned diamond certification company International Gemological Institute Ltd. is likely to open its IPO next month. The dates for the International Gemological Institute IPO have not been announced yet. According to its DRHP, the company is looking to raise Rs 4,000 crore through the issue. The IPO is a combination of a fresh issue worth Rs 1,250 crore and an offer for sale component of Rs 2,750 crore.

The company proposes to use the proceeds of the IPO to pay for the acquisition of IGI Belgium Group and IGI Netherlands Group from its promoter. A portion of the funds will also go for general corporate purposes.

The initial share sale of education-focused NBFC Avanse Financial Services is likely to open in December. Dates of the Rs 3,500-crore Avanse Financial Services IPO have not been announced yet. The IPO is a combination of a fresh issue of shares worth Rs 1,000 crore and an OFS portion of Rs 2,500 crore. The company will use the proceeds of the IPO to augment its capital base in order to meet its future capital requirements as the business grows.  

The IPO of Suraksha Diagnostic Ltd. is open for bidding between Nov. 29 and Dec. 3. Shares of the company are scheduled to be listed on the NSE and BSE on Dec. 6. The Rs 846.25-crore mainboard issue is an entirely offer for sale of 1.92 crore shares. Suraksha Diagnostic IPO price band has been fixed at Rs 420 to Rs 441 per share. The minimum lot size for an application is 34 shares, taking the minimum investment to Rs 14,994 for retail investors. The company will not receive any proceeds from the IPO since it is entirely offer-for-sale. 

Property Share Investment Trust SM REIT is set to open on Dec. 2 and close on Dec. 4. The Rs 352.91-crore IPO is an entirely fresh issue of 3,000 shares. The price band of the IPO has been fixed at Rs 10,00,000 to Rs 10,50,000 per share. The stock is expected to list on the NSE and BSE on Dec. 9.

Nisus Finance Services Co. is set to open its IPO on Dec. 4, with the bidding window open till Dec. 6. The price band of the Rs 114.24-crore issue has been fixed at Rs 170 to Rs 180 per share. The shares are expected to list on BSE SME on Dec. 11.

Emerald Tyre Manufacturers IPO will remain open for bidding from Dec. 5 to Dec. 9. The offer size of the IPO is Rs 49.26 crore. Price band for the issue has been fixed at Rs 90 to Rs 95 per share. Emerald Tyre Manufacturers IPO is expected to list on NSE SME on Dec. 12.