The IPO Rush Is Back!:-
Looking at the current situation of the IPO market, feel that the problems of those IPO investors who were not getting allotment in IPOs are going to end soon. Because there are five upcoming IPOs which have been confirmed.IPOs are coming one after the other continuously right now. And the setting of the IPO is such that your chances of allotment are also good. After Diwali, the money of India IPO was unlocked and from there people directly applied for LSC IPO.
How the IPO Chain Is Working:-
Now the money of Lenskart’s IPO will be unblocked, which means it will be unblocked tomorrow and tomorrow is the last day to apply for Go’s IPO. So in this way money is being generated from every IPO and people are investing it in the next IPO. So from here you can maximize your chances of allotment. What will be the profit now? We will also understand how much it will be. Now, what is the current grey market premium of these five upcoming IPOs? How are the companies? How is business? How many people will get allotment? We are going to understand everything.
IPO 1 – Bhai Growth (Recently Closed):-
First IPO is Bhai Growth. Now this is not our upcoming listed IPO. About this IPO because the two-day subscription here has ended. Here we are seeing more than 4X subscription in retail quota. ? But at present, its decline has been seen in GMP.
IPO #2 – Pine Labs: The Fintech Giant Enters the Market:-
Look, this IPO will open in the market on 7th November and we can apply for this IPO till 11th November.About its allotment basis, the allotment basis will be clear on 12th and this IPO is going to be listed in the market on 14th November. First let us understand the business of our company. The business of the company is simple. Provides solutions for merchants. Where POS machines provide this. They provide the POS device. Along with this they provide payment solutions. They also provide many facilities.
Company Overview:-
The company is moving ahead with this focus and provides payment related solutions to merchants and retailers. So now let us come to the issue size of the IPO. Now it is not that the issue size of the IPO is very small. The issue size is going to be ₹3899 crore. This means that you can assume that your issue will be worth approximately Rs 4000 crore. Now the good thing here is that its major portion comes from this fresh issue. Meaning the company is doing a fresh issue of ₹80 crores. Meaning, this much money will go to the company which will be raised from the market, approximately ₹280 crores, which the company will use for its growth. Now we will also understand where it is going to be used. But you should understand that OFS of Rs 1819 crore is also going to happen here. Because the company is loss making. How will the promoters make money now ? Meaning, if the promoters want to make money then they should make an offer for sale, bring an IPO and make money.
IPO Breakdown:-
So the promoters will take this much money home. And let me make one thing clear that this company is still loss making. Currently, the company will use some of the ₹280 crore it is raising from the market to finance its overseas subsidiaries. Also, the company is going to use some of this money for its debt payment and the remaining money will be used for the general corporate purpose of the company. Now how are the actual financials of this company ?Now, if a company comes out with an IPO and has OFS in it, then it does not happen that the company does not show profit. ? So in FY 26 i.e. quarter one of the current financial year, the company has registered a huge profit of Rs 4 crore. The company has shown a profit of Rs 4 crore and said that , we are becoming profitable now.
Price Band & GMP:-
But one good thing is visible. The company is profitable at the EBITDA level. ? Talking about EBITDA, here the company earns EBITDA of around 16 to 17%. But by the time PAT reaches profit after tax, the company goes into loss. For the rest of this IPO, the company has kept its price band at ₹210 to ₹221 per share, where its GMP was initially seen to be quite strong. At present it has fallen. And this trend of GMP that we are seeing is not only seen in Lenskart but also in Go. And we have seen the same thing in Pine LPS also. And we have seen the same thing in PW’s IPO also. Meaning, overall we are getting the signal that the overall IPO market is witnessing a decline in GMP. And the main reason behind this is that we were already going to the level of 26,000. So Nifty has now fallen to the level of 25,500. So a decline was seen in the market. The grey market premium of every IPO in the IPO market has also seen a decline. But according to the share, the GMP here is ₹12. Meaning a premium of 5% is visible in the grey market at present. But it is not something that takes so much load. Its GMP may increase further. This may increase if the subscription gets better or if the market conditions improve, it may increase further because it is to be listed on 14th and you have time till 12th November to apply.
IPO 3 – Physics Wallah (PW): India’s EdTech Star Goes Public:-
The next IPO, which is our second IPO, is PW . Now every child knows about Physics. Every child knows because only children study. So this IPO is also coming into the market. This is the IPO of PW Physics wala, this is the IPO of our Alak Sir. Meaning, here he is also going to make money in this IPO. Let’s see how much they are going to make now. So the IPO will open in the market from 11th November. You can apply till 13th. The basis of allotment is going to be cleared on the 14th and on the 18th, the IPO of PW, this company is going to enter the stock market. It’s an Atech company, . I will not talk about business because you all know that they teach different things to different types of students. Like his MBA one. He also teaches UPSC. Meaning CA also teaches. Everyone teaches everything. ? Besides, recently they have also expanded through offline stores.
IPO Structure:-
So, the money they are raising, some of it will also be useful to them.So the total issue of the company is going to be ₹3480 crores. This is an IPO of approximately ₹3500 crore. Here, the ₹3100 crore issue is going to be a fresh issue. Look, recently we saw in the lens card that more emphasis is being given on OFS. Pin Labs also has an OFS of around Rs 1819 crore. Meaning, promoters are making huge money by selling. Now that the promoters have formed the company, booking money and profit is a normal thing. It is obvious. But here you see one thing that this is a big portion of the IPO, that is, this is an IPO of about Rs 3480 crore.
Use of Funds:-
From here there is a fresh issue of Rs 21,3100 crore. Meaning, so much money is going to be invested in the growth of the company Clear Cut Physics, which is a positive thing in itself.Offer for sale of Rs 380 crore here, through which the promoters will take home the money, which in itself is a good thing that is being seen right now.Where will Rs 3100 crore be used? Look, the major money of this fresh issue is for this company to do capex and purchase equipment for its offline stores. ? And we will try to make them even more advanced. He has said it clearly and there will be some money along with it which will be used for lease payment. Currently they have some subsidiaries like Xylem Learning and Utkarsh Classes. So here also these equipments will be purchased somewhere and the money is going to be used in their minimum payment. Along with this, the company is trying to acquire other share holdings of its subsidiary Utkarsh Classes. So some money is going to be invested there as well.
Price Band & GMP:-
A huge amount of money is going to be used in tech where the company is going to use around ₹200 crores in developing cloud infrastructure. So right now there is a lot of demand for cloud infrastructure. They have a very large database. So it is important to invest in cloud infrastructure as well. So here somewhere the company has invested for its growth. The retail gota in the IPO of Pine Labs was 10% and if you look at PW, the retail gota that you are seeing in PW is also 10%. Look, the reserve application kept for retail investors in Pine Labs was Rs 2.63 lakh, which means around Rs 2 lakh 63 thousand crore and let us talk about Physics. The issue size of both the IPOs appears to be similar. At Physics Wala, we are seeing reserved applications for retail investors for 2.32 lakh people at present. About the finals of PW then here the company is loss making. It is continuously making losses. If we look at the EBITDA level, they are earning EBITDA of about 7% but they incur a loss of around 8%. As long as they come to Pat. If about the rest of the price band, the company has kept the price band of the share at ₹13 to ₹19. Where the GMP of the share is running at ₹5.
IPO 4 – MV Photovoltaic Power: Riding the Renewable Energy Wave:-
The Next IPO of MV Photovoltaic Power. Meaning, in short, , this is your IPO of MV PV. ? Now the IPO is going to open in the market on 11th November. We can apply for this till 13th. Its allotment basis will be clear on 14th November and this IPO is going to be listed in the market on 18th. Now if we talk about the issue size of the IPO, then this IPO is going to be worth ₹2900 crores. Meaning its issue size is being said to be around ₹3000 crore.
IPO Structure:-
Right now there is going to be a fresh issue of ₹2143 crores which is a good thing. This means that a major portion of the IPO is going to go into the company’s account, which the company is going to use for its growth. And in this IPO also we are seeing an offer for sale. Where ₹756 crore is going to be offered for sale here.
About the company’s business, the company manufactures integrated solar PV models and also manufactures solar cells. Meaning, the kind of business we were seeing of Vikram Solar. There is Vari Energies, there is Premier Energies, the company works in the same sector. The company is working in the renewable sector. So due to this, the company will get higher valuation somewhere or the other. Because the renewable sector is currently growing very fast in India. ? Look, in this IPO also, the retail quota we are seeing is only 10%. We are continuously seeing retail quotas of 10-10%.
Retail Quota & Price Band:-
So the allotment that will be received here means the reserve application has been kept for retailers, it has been kept at 1.93 lakh means around 2 lakh people, not even 2 lakh in actual, ₹1,93,000 people are going to get allotment in this IPO. The company has kept the price band of this IPO at ₹206 to ₹217 per share. If about the grey market premium, then the share is running at a premium of ₹20. Meaning the premium is running at 9%. Look now, IPO is opening with Physics Wala. We are seeing a premium of 5% in Physics Wala. Here we are seeing a straight premium of 9%. So if we assume that the market conditions improve tomorrow and if the GMP of Physics wala also increases or if the GMP of MVPV also increases. So if here the GMP of MV is better than Physics Wala, then there can be a chance for investors here because Physics Wala is a big company, so the subscription of most of the people, the subscription of retailers will go towards Physics Wala because its brand value is higher in the market and if KYBS plays some game, if it applies in MV Solar, then here a big opportunity can be created for us.
IPO 5 – Tneco Clean Air India: Automotive Tech Innovator:-
So TENCO’s IPO is opening in the market on 12th November. ? This IPO will be open from 12th to 14th November and the allotment basis of this IPO will be cleared on 17th. Listing will be on 19th. The basis of allotment is taking place on 17th. This means the funds will be unblocked on 18th November. Meaning, you should understand this clearly that , MVPV became power, it became physics and 10co became clean air. These three IPOs are clashing with each other. Because if you have money to apply for only one lot out of the three, then you can apply for only one. Meaning you will not be able to hit multiple IPOs. You will have to choose one IPO.
Business Overview:-
About the business of Tneko Clin Air India, the company manufactures automotive products. Where the company makes advanced exhaust. Along with catalytic converters, diesel filters and exhaust pipes. The issue size of the IPO is going to be Rs 3600 crore which is going to be entirely an offer for sale. About the valuation of the rest of the company, its current price band is yet to come.
IPO 6 – Capillary Technologies: The SaaS Play:-
The next IPO is going to be Capillary Technologies. Currently, Capillary Technologies is a tech company. ? Where they provide tech based solutions. The model on which they are working right now is called the SaaS model. The company operates on the SaaS meaning Software as a Service model. Where the company provides marketing automation to its clients.
Along with loyalty management solutions, this type of company works on tech based basis. The rest of the IPO of Capillary Technologies will be seen coming in this month itself. Tative dates are visible in the market. And later, as soon as this IPO comes into the market, we are going to do a complete review of it and even we are going to do a complete review of all the IPOs.