Top Upcoming IPOs to Watch in 2024: Latest Grey Market Premium Updates

As we venture into 2024, the IPO market is brimming with anticipation. For investors, this year promises a wealth of opportunities, with several high-profile companies preparing to go public. Whether you're a seasoned investor or just beginning to dip your toes into the market, staying informed about upcoming IPOs and their Grey Market Premiums (GMP) is crucial for making sound investment decisions.

In this blog, we'll explore some of the top upcoming IPOs to watch in 2024 and provide insights into their GMP trends. These metrics can offer valuable clues about investor sentiment and the potential success of these public offerings.

1. KRN Heat Exchanger IPO

IPO Details:

IPO Date: September 25–27, 2024

Industry: Engineering & Manufacturing

Price Band: ₹202-₹220 per share

GMP (as of last update): ₹225

Why It’s Worth Watching: KRN Heat Exchanger has gained a strong market position by offering innovative and sustainable solutions in the industrial engineering sector. The company’s consistent financial performance and recent expansion into advanced heat exchange technologies have made this IPO one to watch. With a Grey Market Premium (GMP) of ₹225, there is a strong indicator of investor confidence, suggesting a significant oversubscription is likely.

Investor Tip: As the GMP remains high, keep track of any fluctuations that could provide insight into investor sentiment before the listing date. Strong market interest could result in a profitable listing.

2. Manba Finance IPO

IPO Details:

Expected IPO Date: September 23–25, 2024

Industry: Financial Services

Price Band: ₹114-₹120 per share

GMP (as of last update): ₹60

Why It’s Worth Watching: Manba Finance has established itself as a leader in consumer and vehicle financing, with a growing portfolio and expanding client base. The company’s robust revenue growth in 2024 and a strong return on equity (ROE) make this IPO attractive to investors. With a current GMP of ₹60, Manba Finance is poised for moderate listing gains, appealing to both retail and institutional investors.

Investor Tip: Monitor any significant changes in the GMP and consider how this IPO fits within broader market trends in the financial sector. Given its stable growth and strong fundamentals, this IPO could offer long-term returns.

3. TechEra Engineering IPO

IPO Details:

Expected IPO Date: September 25–27, 2024

Industry: Aerospace & Defense Manufacturing

Price Band: ₹75-₹82 per share

GMP (as of last update): ₹10

Why It’s Worth Watching: TechEra Engineering has carved out a niche in the aerospace and defense sectors, with its cutting-edge manufacturing processes. The company has shown impressive growth, with revenue jumping from ₹26.59 crore in 2023 to ₹39.08 crore in 2024. Although the current GMP is a modest ₹10, the company’s long-term prospects and growing order book in the defense sector make it a worthwhile investment for those looking at long-term gains.

Investor Tip: TechEra’s focus on high-precision components and increasing global market share could yield substantial future growth. While the short-term gains may be limited, this IPO could offer strong potential for long-term investors.

Understanding Grey Market Premium (GMP) and Its Importance

Grey Market Premium (GMP) is an indicator of the premium at which IPO shares are being traded in the unofficial market before they are listed on the stock exchanges. A high GMP typically signals strong investor interest and the likelihood of the IPO being oversubscribed, potentially leading to higher listing gains.

How to Use GMP in Your Investment Strategy:

• Gauging Demand: A rising GMP often indicates increasing demand for the IPO shares, which could translate into a successful listing.
• Risk Assessment: While a high GMP can be a positive sign, it’s important to consider the overall market conditions and the company’s fundamentals before investing.
• Timing Your Investment: Monitoring GMP trends can help you decide whether to invest in the IPO or wait until the shares are listed and trading begins on the exchange.

Final Thoughts

2024 is shaping up to be an exciting year for IPOs, with several companies poised to make a significant impact on the market. By keeping track of upcoming IPOs and their Grey Market Premiums, you can better navigate the investment landscape and identify opportunities for potential gains.

As always, while GMP can offer valuable insights, it should be just one of many factors considered when making investment decisions. Thorough research and a clear understanding of your financial goals will help you make the most of the opportunities that 2024 has to offer.

Stay tuned to our platform for the latest updates on upcoming IPOs and GMP trends. Whether you’re looking to capitalize on short-term gains or seeking long-term investment opportunities, staying informed is key to success in the dynamic world of IPO investing.