India’s main markets are expected to be hit by six new initial public offerings (IPOs) this week, following seven IPOs last week. This comprises five Small-Medium Enterprises (SMEs) offerings and one mainboard IPO. The Agritech behemoth Nova Agritech is first on the list of upcoming initial public offerings (IPOs) for this week, followed by Fonebox Retail, DelaPlex Limited, Megatherm Induction, Harshdeep Hortico, and Brisk Technovision.

Investors in the market will be watching Nova Agritech’s Rs 143 crore initial public offering (IPO), which is still accepting subscriptions from January 23–25. The issue is priced between Rs 39 and Rs 41, and investors can purchase shares in multiples of 365. The IPO consists of an Offer on Sale (OFS) for 77.5 lakh shares valued at Rs 31.81 crore and a 2.73 crore fresh equity issue worth Rs 112 crore.

About Nova Agritech

Nova Agritech provides services for crop nutrition, soil health management, and rotation, among other things. Operating revenue for the company increased by 13% to Rs 213 crore in FY23. In comparison, Profit After Tax (PAT) increased by 50% to Rs 20.48 crore. Nova Agritech’s net profit for 2023 was Rs 855.61 crore. The company intends to expand operations with the money it receives from listing its subsidiaries.

Zingavita, a D2C wellness brand, raises funds to enter the Ayurvedic market.

Pharma behemoths like Medi Assist Healthcare and Epack Durables are on last week’s list. Medi Assist, a Bengaluru-based company that plans to list on the BSE and NSE indexes on January 23, received 16 times as many subscriptions as shares offered by closing times on January 15–17. On January 18, the allocation for the Medi Assist IPO was completed.

The Epack Durables initial public offering (IPO) started on January 19, 2024. It will end on January 24 due to market closures on January 23.

India has seen one of the highest IPO launches worldwide in the past few years. With 56 mainboards and 176 SME IPOs, 2023 saw the fourth-highest listing rate. In the meantime, a Reuters story suggested that Reddit, the massive social media platform, might go public in March of this year. If Reddit follows through on its plan, it will surpass Pinterest as the largest social media platform when it launches in 2019.