IPOs, also known as initial public offerings, present an opportunity for investors to invest in new companies. As we step into June 2023, the Indian IPO market is full of anticipation, with several companies gearing up to make their debut on the stock exchange. We will look into the upcoming IPOs of prominent companies in India. We will particularly look into the IPOs that are coming in June 2023.

New upcoming IPOs in India in June 2023

1. IKIO Lighting IPO

Noida-based IKIO Lighting, a leading player in LED lighting solutions, successfully launched its IPO on June 6, 2023. With an overwhelming subscription rate of 6629% on the final day, the IPO received significant investor interest. The public issue included 21,280,701 equity shares, priced between Rs 270 and Rs 285 per share, raising a total of Rs 606.50 crore.

On June 13, 2023, the allotment status became available online, allowing investors to check their share allocation. On June 16th 2023, the company got listed on both the stock exchanges of the country. Opening at Rs 392.50 per share on the NSE, it demonstrated a substantial 37.72% premium over the issue price of Rs 285. This strong listing performance showcased the market's confidence in the company and its growth potential.

2. HMA Agro Industries IPO

HMA Agro Industries, an Agra-based frozen buffalo meat exporter, launched its initial public offering from June 20 to June 23, 2023. The IPO price band was at Rs 555 to Rs 585 per equity share. The face value of each share was Rs 10. The total IPO size was Rs 480 crore. The company planned to list its shares on both the stock exchanges. Despite the low response from the investors, on the last day the IPO was fully subscribed. Most of the demand came from non-institutional and qualified institutional investors.

Investors eagerly awaited the allotment status of the HMA Agro Industries IPO, made available online on June 28, 2023. The shares were expected to be listed on July 4, 2023. Market observers noted that the grey market premium for HMA Agro Industries IPO was ₹3, indicating a level comparable to the IPO price band. The company, established in 2008, specializes in frozen fresh buffalo meat, as well as processed/frozen fruits, vegetables, and cereals. You can invest in these IPOs by opening your demat account with the best trading app of India.

3. ideaForge Technology IPO

ideaForge Technology, India's leading drone manufacturer, recently concluded its initial public offering with impressive subscription numbers. The IPO opened on June 26, 2023, and closed on June 30, 2023. The IPO price was set at ₹672 per equity share, with a face value of ₹10. The total size of the IPO amounted to ₹567.00 crore. IdeaForge Technology aimed to list its shares on both the Bombay stock exchange and the national stock exchange. The lot size for the IPO was 22 shares.

On the final day of the bidding process, the IPO received overwhelming demand, with a subscription rate of 106.05 times. This remarkable response marked the first instance of an IPO being subscribed over 100 times in recent times. The substantial subscription numbers reflected the market's confidence in IdeaForge Technology's business as a leading player in the unmanned aircraft systems manufacturing industry.

4. Cyient DLM IPO

Cyient DLM, the electronic manufacturing services, and solutions provider, recently concluded its initial public offering with significant subscription numbers. The IPO opened on June 27, 2023, and closed on June 30, 2023. Priced at Rs 265 per equity share, with a face value of ₹10, the IPO aimed to raise Rs 592 crore. Cyient DLM sought a listing on both the Bombay stock exchange and the national stock exchange, with a lot size of 56 shares.

Throughout the bidding process, the IPO received strong investor interest, with subscription levels reaching impressive figures. By the end of the IPO, Cyient DLM had garnered bids for 23.84 crore shares against the offered size of 2.23 crore shares, showcasing a subscription rate of 19 times. The retail portion of the IPO was oversubscribed by over 41 times, reflecting the high demand from individual investors. This positive response indicates market confidence in Cyient DLM's electronic manufacturing services and its growth potential.

Conclusion

In conclusion, to invest in all these IPOs you first need to conduct thorough research on the fundamentals of the company. You can also take help from the best stock advisor in India to get insights on these IPOs. It will help you make informed decisions about whether to invest in these IPOs or not.