Upcoming IPOs in India - Jan, Feb and March-2021

Upcoming IPOs in India – Jan, Feb and March-2021

Upcoming IPOs in India - Jan, Feb and March-2021Upcoming IPOs in India – Jan, Feb and March-2021


Quality IPOs have always rewarded investors with handsome returns. In recent times due to bull market, even a loss making companies are trading at higher share prices. There are a dozen of IPOs that are lined up which have received approval and some of them are in the closure of approvals from SEBI. Which are the upcoming IPOs in India in January, February, March-2021? In this bull run, can we go ahead and invest in these IPOs blindly keeping fundamentals aside?

Also Read: Best Mutual Funds to invest in 2021

List of Upcoming IPOs in India – Jan, Feb and March-2021

Here are the list of 15 Upcoming IPOs in India that are expected to hit in Q4 of FY21 i.e. Jan to Mar-2021.

#1 – IRFC – IPO Size Rs 4,600 Crores

#2 – Indigo Paints – IPO Size Rs 1,176 Crores

#3 – Home First Finance – IPO Size Rs 1,200 Crores

#4 – Railtel Corporation – IPO Size Rs 700 Crores

#5 – Brookfield India REIT  – IPO Size Rs 4,000+ Crores

#6 – Suryodaya Small Finance Bank – IPO Size Rs 400 Crores

#7 – Kalyan Jewellers – IPO Size Rs 1700+ Crores

#8 – ESAF Small Finance Bank – IPO Size Rs 1,000 Crores

#9 – Laxmi Organic Industries – PO Size Rs 800 Crores

#10 – SAMHI Hotel – IPO Size Rs 2,000 Crores

#11 – Barbeque National Hospitality – IPO Size Rs 1,000 Crores

#12 – Apeejay Surendra Park Hotels  – IPO size Rs 1,000 Crores

#13 – Shyam Steel – IPO Size Rs 500 Crores

#14 – Annai Infra Developers – IPO Size Rs 200+ Crores

#15 – Craftsman Automation – IPO Size Rs 150+ Crores

Upcoming IPOs in India – January, 2021

Here are the list of IPOs that are expected to hit in January, 2021 or 1st week of February, 2021.

#1 – IRFC – IPO Size Rs 4,600 Crores

IRFC is the borrowing arm of Indian Railways. IRFC (Indian Railways Finance Corporation) is the first public sector in India, which is non banking financial services company that is coming for public issue now.

IRFC IPO has been in the news for some time. Earlier it was planned in Dec-20 and it got postponed to January, 2021.

IRFC IPO would open for subscription on 18th January, 2021.

The IPO size is expected to be around Rs 4,633 Crores.

The tentative issue price band is Rs 25 to Rs 26 per share.

Company generated strong revenue and margin growth in the last few years. Its IPO price is attractively priced. When loss making companies that are coming up for IPOs are getting over subscribed and getting listing gains, there is definitely good demand for an IRFC kind of companies.

High risk investors can invest for listing gains as well as for medium to long term perspective.

Also Read: IRFC IPO – Detailed Review

#2 – Indigo Paints – IPO Size Rs 1,176 Crores

Indigo Paints is one of the fastest growing paint companies in India. It forms part of top 5 paint companies in terms of revenues in FY2020.

Indigo Paints IPO is expected to open on 20th January, 2021.

The IPO size is expected to be around Rs 1,176 Crores.

The tentative issue price band is Rs 1,480 to Rs 1,490 per share.

Company generated strong revenue and margin growth in the last few years.

Its IPO price is highly priced. I would have been excited if the issue price would have been on the lower side. Considering this bull run, I am not surprised that such IPOs would get oversubscribed and give listing gains too. High risk investors can subscribe for listing gains and short term, however, for medium to long term, its share price is highly priced compared to its peers like Asian Paints and Berger Paints.

You may like: Complete Review of Indigo Paints IPO here

#3 – Home First Finance – IPO Size Rs 1,200 Crores

Home First Finance company is mortgage finance company that is backed up with private equity funds Warburg Pincus, True North and Singapore Sovereign wealth fund.

Home First Finance offers home loans at a faster pace. It claims that it would process home loans within in 48 hours with hassle-free process.

Home First Finance IPO is expected to open on 21st January, 2021 (tentative).

The IPO size is expected to be around Rs 1,200 Crores.

The issue price band is Rs 425 to 445 (tentative).

Company generated strong revenue and margin growth in the last two years.

We would provide our IPO review in next 1-2 days once we have accurate information.

#4 – Railtel Corporation – IPO Size Rs 700 Crores

RailTel Corporation is a “Miniratna” company of the Government of India is focusing on providing broadband and VPN services.

RailTel IPO is expected to open in February, 2021.

The IPO size is expected to be around Rs 700 Crores.

The issue price band is yet to be known.

Company’s revenues grew by 16% CAGR in the last 5 years. Its gross margins grew by 7% CAGR in the last 5 years.

We would provide our IPO review once the issue price is available.

Remaining IPOs are expected in February or March, 2021.

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Suresh KP

5 thoughts on “Upcoming IPOs in India – Jan, Feb and March-2021”

  1. Sir thanks for giving financial ideas. It will be more beneficial for us, kindly suggest middle income group to invest on which IPO.

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