Hyundai India to Ola Electric: Over Rs 50,000 crore worth planned IPOs likely in next few months

The primary market is likely to see a renewed wave of IPO rush in the next three to four months with the general elections out the way. Data and multiple reports suggest that over 30 companies are ready to hit the market in the few months, aiming to raise over Rs 50,000 crore.

Analysts said there are as many as 24 companies planning to launch IPOs worth Rs 30,000 crore.

“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 IPOs,” said Mahavir Lunawat, Managing Director, Pantomath Capital.

Some of the expected IPOs in the next few months include that of Ola Electric, FirstCry, Fincare SFB, NSDL, Afcons Infrastructure, Waaree Energies, Asirvad Microfinance, Stanley Lifestyles, One MobiKwik Systems, Emcure Pharmaceuticals, Allied Blenders and Distillers, Shiva Pharmachem, Bansal Wire Industries among others.

Apart from the above companies, South Korean automaker Hyundai Motor, Rekha Jhunjhunwala-backed Baazar Style Retail, Swiggy and Haldiram’s are also planning to launch their in the next four to five months. Hyundai India has already filed a draft prospectus with the market regulator Sebi for a nearly $2.5-3 billion public offer.Meanwhile, snackmaker Haldiram is said to be exploring an IPO after plans to sell stake to foreign investors have stalled, according to reports. Kolkata-based Baazar Style Retail had filed for an IPO in early March this year, which includes a combination of fresh equity sale worth Rs 185 crore and an offer for sale (OFS) of 1.68 crore.Also Read: IPO Calendar: 8 issues set to ignite primary market in post-election surge next week

Swiggy, on the other hand, recently secured approval for an IPO of about Rs 10,414 crore ($ 1.25 billion) at an extraordinary general meeting of its shareholders. The food and grocery delivery company proposes to raise Rs 3,750 crore ($450 million) in fresh capital and the IPO will also include an offer-for-sale component of up to Rs 6,664 crore ($800 million).

Other marquee IPOs to watch out for in next 6 months

Ola Electric

India’s largest electric two-wheeler maker Ola Electric is said to have secured markets regulator Sebi’s nod for its IPO and the issue could be launched in the next 2 months itself.

According to the draft prospectus, the company proposed to raise up to Rs 5,500 crore through a fresh issue, apart from an offer-for-sale (OFS) component of 95.2 million shares.

FirstCry

Brainbees Solutions, the parent firm of online e-commerce platform FirstCry, has re-filed preliminary papers with Sebi to raise funds through an IPO, which includes a combination of a fresh issue of equity shares aggregating up to Rs 1,816 crore and an Offer For Sale (OFS) of up to 5.44 crore equity shares.

One MobiKwik Systems

Gurugram-based One MobiKwik Systems, a platform business with a two-sided payments network, has already filed its draft prospectus with Sebi to raise Rs 700 crore for its IPO.

The public offer with a face value of Rs 2 is entirely a fresh issue of equity shares with no offer for sale component. The company is awaiting Sebi approval and analysts expect the issue to be launched in the next few months.

Waaree Energies

Solar PV modules maker Waaree Energies filed its draft red herring prospectus with capital markets regulator Sebi to raise funds through an IPO. The public offer includes a fresh issue of equity worth Rs 3,000 crore and an offer for sale (OFS) of 32 lakh shares.

Allied Blenders and Distillers IPO

Last month, Allied Blenders and Distillers received approval from capital market regulator Sebi to raise Rs 1,500 crore through an IPO including a fresh issue of up to Rs 1,000 crore. The issue could be launched in the next couple of months.

Fincare SFB IPO

Fincare Small Finance Bank has already received market regulator Sebi’s approval for its proposed initial public offer. The bank plans to raise up to Rs 625 crore by issue of equity shares of face value Rs 10.

NSDL

India’s largest depository National Securities Depository Limited (NSDL) has filed its draft prospectus for an IPO, which is completely an offer for sale (OFS) of 5.72 crore shares.