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Upcoming IPOs in India to Know About in 2023

  • Posted Date: February 7, 2023
Upcoming IPOs

A business that receives a fresh infusion of cash is more likely to develop and, as a result, see an increase in share value, making upcoming IPOs an appealing investment opportunity. They are a fantastic approach to generating both immediate and long-term profits.

However, you should be informed of the risks involved with an IPO before investing in any of the impending IPOs. For instance, businesses that will soon go public do not yet have a clear share price trajectory that can be used to predict future share price increases. This implies that the trader or investor must only depend on the company’s basics as described in the DRHP as well as other online sources.

Basic details of upcoming IPOs

Try looking out the fundamental information about upcoming IPOs in them earlier to take notice of:

  • The supply and demand of capital for IPOs: For instance, if a particularly appealing firm announces a large IPO issue, it may indicate that a lot of capital will flow away in its path, and other IPOs can subsequently be available at a cheaper price.
  • Fundamental stock details and company basics: The investor will be able to assess the business model and financial viability of the firm using the fundamental information about the stock as well as the company. The investor will also be able to see whether significant shareholders who are more knowledgeable are selling too many shares.
  • IPO trends to evaluate market and economic circumstances: It indicates that the economic environment is not favourable for making new bullish investments if, indeed, the IPOs are failing to measure demand, for example, if they are consistently postponing their release or refusing to declare dates.

In light of this, let’s have a look at the IPOs that will be released in January 2023.

List of upcoming IPOs in India in January 2023                                   

Name of the company           IPO size
Adani Enterprises ₹ 20,000 Crores
Aadhar Housing Finance IPO ₹ 7,300 Crores
Gold Plus IPO ₹ 300 Crores
Capital Small Finance Bank ₹ 450 Crores
Hexagon Nutrition IPO ₹ 100 Crores
Capillary Technologies India ₹ 850 Crores
Sresta Natural Bioproducts IPO NA
Skanray Technologies ₹ 400 Crores
Ola Cabs IPO ₹ 1,500 Crores
Keventer Agro IPO ₹ 350 Crores
Droom IPO ₹ 3,000 Crores
Gemini Edibles and Fats ₹ 2,500 Crores
Mobikwik IPO ₹ 1,900 Crores
Ixigo IPO ₹ 1,600 Crores

Aadhar Housing Finance

Low-income families in semi-rural as well as rural India may apply for loans from the firm for mortgage-related expenses.

The corporation is issuing a new issuance of ₹15 crores and an option of sale of ₹5,800 crores, for a combined total of ₹7,300 crores.

Gold Plus

It is the second-largest producer of float glass throughout India, and it also dominates the clear glass as well as value-added glassware markets. To cover its market borrowings and operating capital, it is releasing an IPO.

The business is selling 12,826,224 shares via an offer of sale together with an Rs. 300 crores new issuance.

Capital Small Finance Bank

One of the top small finance banks is Capital Small Finance Bank. The IPO of Capital Small Finance Bank Limited merges 3,840,087 shareholdings from selling stockholders with 450 crore rupees in new equity.

The IPO’s main goal is to cover the costs of marketing and promotion.

Hexagon Nutrition IPO

The business specialises in nutrition for adults, clinical nutrition, paediatric nutrition, weight control nutrition, etc. The purpose of the company’s IPO is to raise funds for working capital and capital expenditures for its subsidiaries as well as to pay off the debts of those companies.

The corporation plans to sell 30,113,918 shares and issue a new issuance for ₹100 crores.

Capillary Technologies India

The business offers services for SaaS goods and solutions using AI. It has launched the IPO in order to pay off debt, and fund product research and development, in addition to strategic partnerships and investments.

The corporation is distributing a new issue for 200 crores and a selling offer of around 650 crores.

Sresta Natural Bioproducts

Its sales originate from the USA and other nations, as well as India, and it is involved in the business of purchasing, processing, creating, and developing organic food items. It offers a huge selection of packaged foods, beverages, spices, and cooking oils. Amongst B2C organic food companies in India, the business cultivates the most acreage for organic farming.

The IPO comprises a new issuance of equity shares valued up to ₹50 crores and a promise to give up to 70.30 lakh share capital by the selling stockholders.

Skanray Technologies

The business is engaged in the design, production, development, and quality control of contemporary medical supplies. The IPO consists of 400 crores in new issues and a maximum share offering of 14,106,347.

Working capital needs and inorganic expansion will be supported by the funds received from the Skanray IPO.

Ola cabs

With over 250 cities in the UK, New Zealand, Australia, and India, it is among the biggest online taxi service platforms in the world. It provides a range of transportation options, including taxis, metered taxis, auto-rickshaws, and bikes. With more than 1.5 crores of driver-partners, the organisation has a sizable consumer base.

Nevertheless, the online cab-booking sector as a whole has been seeing a decline in the number of drivers, particularly in metropolises in the post-COVID era, and Ola may need other innovative strategies to get out of the rut and compete with newbies.

Keventer Agro

It is an FMCG company with its corporate office in Kolkata that sells packed dairy and fresh food items and does business in urban, semi-urban, and rural regions. The repayment of debt and capital expenditures are the causes of the IPO problem.

The offer comprises an offer to sell 10,767,664 shares as well as a new issue of 350 cr.

Droom Technology

Droom is an online platform for buying and selling both new and old cars that are fueled by data technology and scientific research. It has a market share of more than 65% for online car sales.

The Droom Technology Initial Public Offering comprises a 1,000 crore purchase offer and a 2,000 crore new share issuance. Collecting money for both organic and inorganic expansion strategies is the goal here.

Gemini Edibles and Fats

In India, the business produces, sells, and markets specialty fats and food products. As of FY21, those who are one of the top two firms in India by customer base in the branded sunflower seed category. Their sunflower oil is sold under the “Freedom” brand.

The corporation anticipates raising around ₹2500 crores with a single offer for sale.

One Mobikwik Systems

Mobikwik began as a mobile wallet to make paying utility bills simpler. These days, a variety of transactions, including e-commerce, food delivery, gas station purchases, etc., support P2P payments through UPI.

The One Mobikwik IPO’s overall issue amount is about 1,900 crore.


The firm helps Indian tourists organise, book, and arrange their travel plans for hotels, buses, flights, and trains. Data science and AI-based advancements are used to accomplish this.

The offering will consist of new issuance of equity shares worth 750 crores and also an offer for sale worth 850 crores. With this money, the firm plans to pursue both organic and inorganic expansion strategies.

List of other major IPOs

There are a few significant IPOs that we should be aware of in addition to the ones that were previously discussed:

Oravel Stays(OYO)

It is a short-stay accommodation-focused internet booking tool with users in 35 different countries.

However, the COVID epidemic originally caused the firm to see a decline in sales; however, this scenario is reversing as the company recently had a 20% increase in year-over-year revenue. Its losses have also decreased from ₹3,900 crores in 2021 to ₹1,900 crores in 2022.

It intends to generate ₹8430 crores, of which ₹700 crores will come from new issues and the remaining amount through offers made by current investors.


With more than 50 crores of students enrolled and more than 3.5 crores paying memberships, it is a top ed-tech platform.

The firm has expanded its user base while also acquiring well-known companies, including Epic, Osmo, and Aakash educational programs.

With a significant increase from 2280 cr in FY 2021 to 10,000 cr in FY 2022, its revenue has increased at a CAGR of 21.2% over the previous three years.

It has already raised over 44k cr, notably from Tiger Global and BlackRock, and is currently considering an IPO of 1 bn USD to develop its teaching subsidiary Aakash educational services.


The well-known online meal delivery company collaborates with more than 1.5 lakh businesses and employs 2.6 crores of the delivery personnel. Via the acquisition of Dine Out, a platform for eating out, it is now diversifying into grocery and package service with Instasmart and Genie.

The company’s sales have increased over the last three years at a CAGR of 25.4%, while its losses have decreased. In order to reach a customer base of 100 crores and implement technical advances, it now intends to raise around ₹1 crore.

Go First

The Wadia Group, famous for the trademarks Bombay Dyeing as well as Britannia Firm, owns the ultra-low-cost carrier company. With 57 aircraft already in its inventory and another 94 on order, Go First operates both local and international flights. Its operating profit over the previous three years has been at a CAGR of 16.4%.

However, the corporation has been losing money as a result of losses brought on by increased fuel prices and a drop in demand brought on by COVID. The business was forced to re-file for its IPO since its prior DRHP had expired.

The corporation hopes to collect around 3,600 cr via this IPO to pay off its debts and fund its post-COVID activities.


It is a business that specialises in natural cosmetics and personal care products with operations in the Middle East, South East Asia, and India. With a profit of ₹19.8 crores, the firm will become profitable in 2022 thanks to the CAGR of 105% growth in its income during the previous three years.

Honasa Consumer, the brand’s parent business, has a history of acquiring and growing other popular brands, including The Derma Co, Dr. Sheth’s, BBlunt, etc.

Through its IPO, it intends to earn ₹2,439 crores, which it would use to develop a nationwide network of offline shops. Through an investment from India, Fireside Ventures, Sequoia, and Stellaris Ventures, it has already raised 907 cr.

The bottom line

If you want to invest in any of the aforementioned future IPOs but don’t already have a demat account, consider opening one right now with India’s reliable online broker!


Q1. What exactly is an IPO?

Ans. Initial Public Offering is the name given to the process by which a business that does not already have any publicly traded shares decides to open up its shares on a stock market.

Q2. What exactly is an upcoming IPO? Where can I find it?

The phrase “upcoming IPO” refers to businesses that have submitted drafts and got SEBI’s permission.

Q3. How can I find out about upcoming IPOs?

Ans. People may use a variety of websites, including SEBIs and the websites of the firms themselves, to search online for information on impending IPOs. You may also refer to the list of upcoming IPOs that Shyam Advisory publishes each month.

Q4. Where can I discover the IPO date?

Ans. On Shyam Advisory‘s website, you can see a list of future IPOs and review all pertinent information about them, such as the amount of the IPO, the beginning and closing dates, the allotment date, business facts, and more.

Q5. Should I invest in IPOs?

A great technique for investing in erratic stocks with the potential for significant profits both over the short and long term is the IPO.

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