IPO Market Outlook 2024: 3 Hot New Stocks Coming in Q2

The Indian IPO market has been bustling with activity for the past few years. The incredible growth in this stock market segment can be attributed to the country’s robust economic development and investors' increasing appetite for public issues. 

As we move onto the second quarter of the financial year 2024-2025, the IPO market continues to shine through, with several companies preparing to make their debuts on the Indian stock exchanges.

In this article, we will explore three new stocks that are about to go public in Q2 2024. Additionally, we will also look into a listed company that is looking to raise capital through a follow-on public offering (FPO).

Upcoming IPOs in Q2 2024

From infrastructure and manufacturing to e-commerce and speciality food products, each of the following three public issues represents a major part of the Indian economy and shows a lot of promise as a long-term investment option. Here is an overview of each of these companies, along with their latest IPO news.  

1. Kataria Industries Limited 

Incorporated in 2004, Kataria Industries Limited is engaged in the business of manufacturing Low Relaxation Prestressed Concrete (LRPC) strands and steel wires, Single Wall Corrugated (SWC) pipes, and Post-Tensioning (PT) anchorage systems. The company’s products are widely used in a range of industries, which include construction, infrastructure, power generation, and power transmission, among others.

The company has two manufacturing facilities in Ratlam, Madhya Pradesh, which also houses a sophisticated testing lab for quality control. The products of Kataria Industries Limited have been approved by several state-level and union-level organisations like the National Highways Authority of India (NHAI) and state road development authorities. 

Additionally, the products have also been tested by two third-party test laboratories, namely, the Indian Institute of Technology (IIT) in Chennai and AnuLab Industrial Testing & Analytical Laboratories in Agra.

Now that you have an idea of the company and its business, here is a quick overview of the key details of the company’s IPO. 

2. Macobs Technologies Limited

Incorporated in 2019, Macobs Technologies Limited  is in the e-commerce business, focusing on the growing ‘male grooming’ segment. The company offers a wide range of grooming, cosmetic, hygiene, and self-care products, all of which are marketed and sold in India under the ‘Menhood’ brand. The company’s products can be purchased through its own website and on popular e-commerce marketplaces. 

In addition to selling products tailored to men’s intimate grooming needs, Macobs Technologies Limited is also actively working to educate and change societal perceptions about male grooming. It is worth noting that the company imports electronic components that are used in its products from China. Although this strategy enables the company to gain access to advanced technology at competitive prices, it also exposes it to various international trade-related risks.    

Here is the latest IPO news related to the company’s upcoming public issue.   

3. Sanstar Limited 

Originally incorporated in 1982 as Continental Papers Limited, the company was renamed d Sanstar Limited in 2012. The primary business of the company is manufacturing plant-based speciality food products and ingredient solutions, where it is a major player. Some of the products that Sanstar Limited manufactures include liquid glucose, maltodextrin powder, dried glucose solids, native and modified maize starches, and dextrose monohydrate, among others.

With a total installed capacity of 3,63,000 metric tonnes per annum, Sansar Limited is currently the fifth-largest manufacturer of maize-based speciality products and ingredient solutions in the country. In addition to serving the domestic market, the company also exports its products to various countries all over the world. In fact, about 35.53% of its gross operating revenue in FY24 came from exports, leading to the company being recognised as a Two Star export house by the Government of India.

With the stock about to go public, here are some of the key details of the company’s IPO to help you make an informed investment decision. 

Upcoming FPO in Q2 2024

Now that we are done with the latest IPO news, let us now focus on the follow-on public offering from the SME segment that is about to go live in Q2 2024. 

1. SAR Televenture Limited

Incorporated in 2019, SAR Televenture Limited made its debut on the National Stock Exchange’s EMERGE platform on November 8, 2023. The company is now preparing to issue its shares once again to the public via a follow-on public offering (FPO) to raise more capital to fuel its expansion. 

SAR Televenture Limited operates in the critical telecommunication infrastructure sector, primarily focusing on installing and commissioning telecom towers across India. As of May 31, 2024, the company has installed about 413 towers, which it has leased out to various telecom service providers.  

In addition to the installation of telecommunication towers, SAR Televenture Limited also provides a wide range of support services for telecom companies. Some of the services include the construction of basic transmission and telecom utilities, project management for laying duct and optic fibre cables, optical fibre network construction, and dark fibre leasing, among others.  

Now, here are the crucial details of the follow-on public offering that the company is planning to launch in Q2 2024. 

Conclusion

As the country continues its journey towards becoming a global economic powerhouse, the Indian IPO market is likely to offer more such exciting investment opportunities. However, before you proceed to invest in any stocks that are about to go public, it is important to conduct a thorough due diligence exercise. You must consider factors like company financials, growth prospects, industry trends, and overall market conditions before making investment decisions.

Now, with so many companies attempting to make their way onto the IPO market, it can get incredibly challenging to keep track of public issues. Here is where Motilal Oswal’s Research 360 platform can help. It has a dedicated IPO section where you can find details of all of the open and upcoming public issues. Additionally, you can also track the performance of recently listed stocks. Sign up for Research 360 today and enjoy the various features on offer for free!