After a tepid performance in the second-half of 2018, investors are pinning hopes for better money-making opportunities through upcoming IPOs in 2019. While last year started on a great note, the primary market gradually slipped into comma as volatility in the secondary market increased.
Another important reason behind the dismal performance later in the year was the aggressive price of the IPOs by promoters and merchant bankers. This was visible in the poor show of ICICI Securities and TCNS Clothing. Even well-established names like Aavas Financiers priced their issues at high levels, resulting in discounted listing.
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Hopefully, promoters will be saner this year, although volatility is likely to be high on account of general elections. Nevertheless, there is a long list of companies with SEBI approvals in place and the IPO market can be busy provided market conditions remain favorable. Here is a ready reckoner for the upcoming IPOs in 2019.
|Issuer company||Prospectus filing date||SEBI approval date|
|Rail Vikas Nigam||3/28/2018||5/17/2018|
|Mazagon Dock Shipbuilders||3/28/2018||8/10/2018|
|Hinduja Leyland Finance||6/14/2018||9/7/2018|
|SREI Equipment Finance||11/28/2017||9/7/2018|
|Century Metal Recycling||6/11/2018||9/27/2018|
|Aakash Education Services||7/19/2018||9/28/2018|
|Mrs. Bectors Food Specialities||8/13/2018||11/9/2018|
|Neccon Power & Infra||9/28/2018||11/29/2018|
|Flair Writing Industries||9/24/2018||11/30/2018|
|Shyam Metalics and Energy||8/6/2018||12/7/2018|
|Prince Pipes And Fittings||10/15/2018||12/28/2018|
As one can see, SEBI has done a great job of vetting draft prospectuses and issuing observations. As on the date of writing this article, there are 60 companies with regulatory approvals to launch their IPOs. Like last year, we expect that most upcoming IPOs in 2019 will include an OFS component to allow promoters and pre-IPO investors to exit.