 "IPO")
The primary market is anticipated to see a surge in initial public offers (IPOs) over the next three to four months. More than 30 companies are prepared to enter the market within the coming months, with an aim to raise over Rs 50,000 crore, according to a report in The Economic Times.
The report cited analysts as saying that up to 24 companies are planning to launch IPOs amounting to Rs 30,000 crore.
The report quoted Mahavir Lunawat, managing director at Pantomath Capital, as saying, “The IPO wave will gain further momentum in the coming months. We witness strong investor confidence in the market post-elections with the Modi government returning to power. A total of 24 companies are ready to hit the market in the next couple of months, aiming to raise approximately Rs 30,000 crore through IPO.”
Expected IPOs in the coming months include those of Ola Electric, FirstCry, Waaree Energies, Fincare Small Finance Bank, Bansal Wire Industries, NSDL, Afcons Infrastructure, Asirvad Microfinance, One MobiKwik Systems, Emcure Pharmaceuticals, Allied Blenders and Distillers, Shiva Pharmachem, and Stanley Lifestyles, among others.
South Korean automaker Hyundai Motor, Rekha Jhunjhunwala-backed Baazar Style Retail, Swiggy, and Haldiram’s are also planning to launch their IPOs in the next four to five months. Hyundai India has already submitted a draft prospectus to the Securities and Exchange Board of India (Sebi) for a public offer worth around $2.5-$3 billion.
Meanwhile, Haldiram’s is reportedly considering an IPO after plans to sell a stake to foreign investors have stalled. Kolkata-based Baazar Style Retail filed for an IPO in early March this year, which includes a combination of fresh equity sales worth Rs 185 crore and an offer for sale (OFS) of 1.68 crore shares.
Swiggy recently received the board approval for an IPO of around Rs 10,414 crore. The company aims to raise Rs 3,750 crore in fresh capital, with the IPO also including an offer-for-sale component of up to Rs 6,664 crore.
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Others IPOs in the next six months:
Ola Electric
India’s largest electric two-wheeler manufacturer, Ola Electric, has reportedly received approval from the Sebi for its IPO, which may be launched within the next two months. As per the draft prospectus, the company plans to raise up to Rs 5,500 crore through a fresh issue, in addition to an offer-for-sale (OFS) component of 95.2 million shares.
FirstCry
Brainbees Solutions, the parent company of the online e-commerce platform FirstCry, has resubmitted preliminary documents to the Sebi to raise funds through an IPO.
One MobiKwik Systems
One MobiKwik Systems has filed its draft prospectus with the Sebi to raise Rs 700 crore through its IPO. The public offering, with a face value of Rs 2 per share, consists entirely of a fresh issue of equity shares and does not include any offer for sale component.
Waaree Energies
Solar photovoltaic (PV) module manufacturer Waaree Energies has submitted its draft red herring prospectus to the Sebi to raise capital via an IPO. The public offering consists of a fresh issue of equity shares amounting to Rs 3,000 crore and an offer for sale (OFS) of 3.2 million shares.
Allied Blenders and Distillers IPO
Last month, Allied Blenders and Distillers obtained approval from market regulator Sebi to raise Rs 1,500 crore through an IPO, which includes a fresh issue of up to Rs 1,000 crore. The IPO is expected to be launched within the next couple of months.
