Public offering of shares of a company is referred to as an initial public offering (IPO) or a stock launch. Shares are sold to institutional investors and to retail investors (individuals). Underwriting of an IPO is typically done by one or more investment banks. These banks are also responsible for arranging for the shares to be listed on a number of stock exchanges. A privately held company can become a publicly held company by going public, or floating. Initial public offerings are beneficial to companies as a means of raising new equity capital. They also monetize the investments of private shareholders such as company founders or private equity investors. They facilitate the trading of existing holdings and the raising of capital in the future.
Upcoming IPO are those IPO that has been drafted with SEBI or have been approved by SEBI & their Date of issue is out. In this article, you will find Upcoming, Active & Ongoing IPOs in India.
Check out the list of Upcoming IPOs in 2022 here –
Now that you’re acquainted with the list of IPOs in 2022, here are some of the details of the companies and their public issues.
1. Go Digit General Insurance Limited
"Go Digit General Insurance entered into the general insurance segment and aims to make insurance simple for all. It is funded by Fairfax Group, operating in over 30 countries with a long-term value approach towards India's investments. Digit Insurance, also known as Go Digit, is an online general insurance company that offers various non-life insurance products that cover your car, bike, travel, home, and mobile. The company is based out of Pune and Bengaluru. It follows a unique strategy of multi-channel distribution of insurance plans and the digital platform for resolving claims and customer service."
2. Bajaj Energy Limited
Founded in 2008, Bajaj Energy Limited is one of the largest private sector power thermal generation companies in Uttar Pradesh, India. It holds several years of experience in running, building and financing power generation facilities. In fact, the company has successfully set up a thermal power generation capacity of 2430 MW that runs on coal. 450 MW of this capacity comes from 5 plants spread across 5 locations in the state. The owner of these plants is BEL. On the other hand, the rest of 1980 MW comes from plants owned by LPGCL. Further, Bajaj Energy Limited is making an effort to increase its demand. For this purpose, it plans to add conventional power generation capacity in the next two years. With SEBI’s nod, Bajaj Energy Limited now plans to float its initial public offering
3. Go Airlines IPO
Go Airlines or Go First has been one of the stand-out aviation companies when it comes to affordable travelling via sky. Incorporated in 2004, Go Airlines aimed to make airline travel pocket-friendly, and 17 years down the line, the company has been successful in its mission. Being a part of Wadia Group, one of India’s oldest business conglomerates, the company has fared well over the years. Besides connecting more than 25 major cities of this country, the company also operates in the 10 international routes as well. Currently, its international operations are limited to South-East Asia and Middle-East. As of September 2021, Go Airlines has a fleet of 57 aircraft. This includes 50 A320 NEO and 7 A320 CEO aircraft. Additionally, the company is set to expand its fleet in the next two financial years.
According to the DRHP filed by the company with SEBI, they are planning to raise about Rs. 3,600 crores through this public issue. This will include only fresh issue equity shares, and no news of an OFS is available yet. Additionally, the company has plans for a pre-IPO placement, which, if materialised, will lower the final issue size accordingly. The market lot and price band of this IPO are not available yet, and Go Airlines has mentioned in its DRHP that it will announce it gradually. Whereas the face value of shares here is set at Rs. 10 per equity share.
4. OYO Hotels and Home
Started in 2012 as Oravel Stays and later rebranded as the OYO Hotels and Homes is one of the popular Indian startups. It entered India’s hospitality segment with fresh ideas that plan to provide an affordable and improved experience to every guest. This idea of introducing a hotel chain came to its founder Ritesh Agarwal in 2011 when he noticed the dearth of quality budget hotels across the length and breadth of India. With his idea of bringing standardisation, he started OYO Hotels and Homes (then Oravel Stays). Following its debut, the company received funding from major venture capitals worldwide. In its 21 rounds of funding till 2021, OYO has garnered around $4.1 billion in funding. Some of the notable names in this list are SoftBank Group, Greenoaks Capital, Lightspeed India, and Sequoia Capital. In these past 10 years, OYO has successfully extended its operations outside India in Japan, South-East Asia, the USA, and Europe. Simultaneously, its presence in India has grown manifolds.
According to the DRHP filed by OYO Hotels and Homes with SEBI, the public issue is likely to be worth Rs. 8,430 crores. This will include an offer for sale of about Rs. 1,430 crores and a fresh issue equity share sale of Rs. 7,000 crores. Other details of this public issue, such as price band, market lot, and likes, have not been made public yet.
5. KFin Tech
KFin Technologies is one of the leading registrars in India. The company through its financial services platform, provides services such as processing applications for an IPO and distributing shares to applicants of an IPO. The company provides transaction management, channel management, compliance solutions, data analytics, and various other digital services to asset managers. Its clients include mutual funds, wealth managers, and corporates in India and abroad. It also provides several investor solutions including transaction origination and processing for mutual funds and private retirement schemes in Malaysia, the Philippines, and Hong Kong. The Kfin IPO is entirely an offer for sale (OFS) of up to Rs 2,400 crore worth of equity shares by General Atlantic Singapore Fund Pte. Ltd.
The company was founded in 2007 as Jasper Infotech and came to be called “Snapdeal Private Limited” in 2019. Kunal Bahl and Rohit Kumar Bansal are its whole-time directors. In addition, it has six other directors. Snapdeal declared (in their DRHP) that it is one of the top four online lifestyle shopping destinations in India as of 31st August, 2021. The goods sold on the platform include fashion, books, electronics, beauty and personal care, sports and outdoor equipment etc with mobile phones and accessories being the highest sold items on snapdeal. Furthermore, its subsidiary Unicommerce provides SaaS instruments in processing and intelligence services and is one of the largest in terms of revenue in that particular field for retail clients.
Snapdeal has filed for an upcoming IPO worth ₹1,250 crore. It consists of fresh issue worth ₹1250 cr and an Offer for Sale of 30,769,600 equity shares (by SoftBank). It is an online e-commerce platform that plans to invest ₹900 cr in organic growth initiatives. It is also considering a pre-IPO placement worth ₹250 cr that will be subtracted from the fresh issue.
Azim Premji backed lifestyle retail brand, FabIndia, plans to raise up to ₹4,000 crore through an initial public offer. The offer comprises of a fresh issue of shares worth up to ₹500 crore and an Offer For Sale (OFS) of up to 2,50,50,543 shares. The issue has a novel approach as the two promoters -- Bimla Nanda Bissell and Madhukar Khera -- intend to transfer 400,000 shares and 375,080 shares, respectively, to the artisans and farmers engaged with the company or its subsidiaries to reward express gratitude towards them FabIndia is considering seeking a valuation of about $2 billion. ICICI Securities Ltd, Credit Suisse Securities (India) Pvt Ltd, JP Morgan India Pvt Ltd, Nomura Financial Advisory and Securities (India) Pvt Ltd, SBI Capital Markets Ltd and Equirus Capital Pvt Ltd are the lead managers of the issue.
8. Gemini Edibles & Fats India Ltd
Gemini Edibles & Fats India Ltd has filed a DRHP with SEBI to raise Rs2,500 crore through an initial public offering.
9. Aadhar Housing Finance
They are the largest HFC focused on providing mortgage-related loans to the lower-income group in the rural and semi-rural areas. According to the CRISIL report, Aadhar Housing Finance had an AUM 1.5 times their closest competitor on March 31, 2020. Their gross AUM increased from Rs 100,157.5 million in FY2019 to Rs 140,521.9 million as of December 31, 2021. As of December 31, 2021, Aadhar Housing Finance had 325 branches in 20 states and union territories, with no state accounting for more than 16.2% of gross AUM.
Aadhar Housing Finance Limited's IPO constitutes a fresh issue of up to Rs 15,000 million and an offer for sale of up to Rs 58,000 million, aggregating up to Rs 73,000 million. The company offers a range of mortgage-related loan products, including home purchase, construction, and extension loans.
10. Fincare Small Finance Bank Limited
Fincare Small Finance Bank is a digital-first financial services provider. It caters to the requirements of banked and unbanked individuals residing in the rural as well as semi-urban areas of India. It was formed following a merger of Future Financial and Disha Microfin. In the first quarter of FY2020, Fincare Small Finance Bank was added in the Second Schedule of the Reserve Bank of India Act, 1934.
Fincare Small Finance Bank has filed preliminary papers with SEBI to raise Rs. 1,330 crores via an initial public offering. The Bengaluru-based company’s IPO will include a fresh issue worth Rs. 330 crores along with an offer for sale of Rs. 1,000 crores by the company’s promoter, Fincare Business Services Limited.
11. Emcure Pharmaceutiacals
Emcure Pharmaceuticals was incorporated in 1981. Ever since it was recognised as one of the leading pharma companies in the country, this company has earned accolades for providing quality healthcare solutions and leveraging advanced technology. It is involved in major therapeutic areas and proactively develops, manufactures and distributes pharma products. Over the years, Emcure Pharma has implanted its business globally.
The issue size of Emcure Pharma IPO is estimated to be around Rs. 4,500 – Rs. 5,000 crores. It will comprise a fresh issue of equity shares worth Rs. 1,100 crores alongside an offer for sale of 18,168,356 shares.
12. Penna Cement Industries Limited
Penna Cement Industries is one of the largest privately held cement companies in India and a leading integrated cement player in terms of cement production capacity, as of March 31, 2021, with a strong brand recall in the southern and western states of India. According to the Red Herring Prospectus filed by the company, the total issue size of the IPO is expected to be around Rs 1550 crores.
13. Studds Accessories
Studd Accessories is the world's largest two-wheeler helmet producer. The firm, incorporated in 1983, has a presence in over forty countries, including India. In 2016, they launched their premium helmet brand SMK. Studd Accessories owns the only laboratory in India with certification from European Safety Agency and Safety for using the best technology. They have four state-of-the-art manufacturing facilities for producing over fifty products.
The Studds Accessories IPO date has not been announced by the company as of yet. More information regarding the offer opening date of the upcoming Studds IPO may come to light when the company files the final Red Herring Prospectus with the SEBI. The Studds Accessories Limited IPO is likely to contain both a fresh issue of shares as well as an Offer for Sale component. The fresh issue of shares through the upcoming Studds IPO is likely to net the company around Rs. 98 crores. The quantum of shares being issued through the Studds Accessories Limited IPO has not been revealed. Around 3,939,000 equity shares of the company held by the promoters are likely to be offered to the public through the Offer for Sale (OFS) component of the IPO issue. The amount of money to be generated through this sale has not been disclosed by the company.
14. Ruchi Soya Industries Limited
The company is a diversified FMCG and FMHG focused company, with strategically located manufacturing facilities and well-recognized brands having a pan India presence. Ruchi Soya Industries Ltd is one of the largest FMCG companies in the Indian edible oil sector and one of the largest fully integrated edible oil refining companies in India. For the nine-month period ended December 31, 2020, the revenue from operations and other income stood at Rs 11,52,347.56 lakhs. The total issue size of the follow-on IPO of Ruchi Soya Industries Ltd is expected to be around Rs ₹ 4,30,000 lakhs. The issue will comprise a mix of both fresh and an offer for sale.
boAt is an India-based electronics brand founded in November 2013. This company is known for marketing audio-focused smart wearables and accessories. The business is carried under a legal name, Imagine Marketing Services Private Limited, incorporated in 2013, while boAt is the household name. boAt designs and markets smartwatches and audio-focused accessories, like earphones, travel chargers, stereo headphones, home audio equipment, wireless speakers, premium rugged cables, and a comprehensive collection of mobile phone accessories. Furthermore, boAt markets its products through public events and collaborations with various influencers and sports teams. The company is now all set to expand its market by reaching a valuation of $1.5 to $2 billion through IPO (Initial Public Offering).
Imagine Marketing Limited, the parent company of boAt, filed a DRHP with SEBI on 26 January 2022 for an IPO of Rs. 2,000 crores. This offer includes a 900 crores fresh issue of equity shares and an offer for sale amounting to Rs. 1,100 crores as described in the DRHP. Further, the company is looking to raise Rs. 180 crores through a pre-IPO placement. So far, the company is waiting for SEBI's approval before it can float the IPO in the market.
16. Arohan Financial
Established in 1991, Arohan Financial is one of the leading NBFC-MFIs in India. The company started its microfinance business in 2006. It operates in low-income, unpenetrated states of the country. The offerings of Arohan Financial Services include credit as well as insurance products. The former includes income-generating loans and other forms of financial assistance, while the latter covers life and health insurance products.
Arohan Financial has filed preliminary papers with SEBI to raise Rs. 1750 crores to Rs. 1800 crores. As per its DRHP, the company’s IPO will include a fresh issue of Rs. 850 crores and an offer for sale (OFS) of 27,055,893 shares by existing shareholders. Qualified institutional buyers (QIBs) can subscribe to up to 50% of the IPO, whereas retail individual investors will have up to 35% of the reserved portion. 15% of the issue size will be set aside for non-institutional investors. Furthermore, eligible employees of this company can subscribe up to 5% of Arohan Financial’s initial offer.
17. ESAF Small Finance Bank
The new entrant in the IPO block, ESAF Small Finance Bank, was incorporated in 2016 in Thrissur. Within four years, the bank managed to showcase strong performance in strength and size to capture a significant market portion. They currently have a strong network of 400 branches and 4000 plus employees in Tier 1, 2, and 3 cities, catering primarily to the underserved segment of the population. The bank registered net profit of Rs 130.42 crores during the first half of FY 21, managing to grow by 41%.
ESAF Small Finance Bank is likely to reapply with SEBI seeking IPO approval. Earlier, it shelved IPO plans in 2020 due to COVID-19 surge and the ensuing lockdown. They have time till July 2021 to float their initial public offering. The bank planned earlier in January 2020 and received approval from SEBI, which expired in March 2021. The initial offer size contained fresh issues worth Rs 800 crores and OFS equities of approximately Rs 176.2 crores.
MobiKwik is one of the leading Buy Now Pay Later (BNPL) and mobile wallet providers. It has earned its popularity among the masses by easing regular mobile payments and extending the benefits of BNPL. In addition, the digital payment company aims to address the credit requirements of the rapidly increasing online consumers. Services like peer-to-peer payments through UPI, MobiKwik Wallet and MobiKwik Wallet to bank payments are available on this platform. In addition, MobiKwik has launched Zaakpay, its subsidiary payment gateway and MobiKwik Zip, a flagship BNPL solution to ease the process of accepting and paying money digitally.
Per the DRHP filed with SEBI, the issue size of MobiKwik IPO will be Rs. 1900 crore comprising fresh share issue of up to Rs. 1500 crore. Moreover, the IPO will have an offer for sale worth Rs. 400 crore by promoters and certain shareholders. The company is targeting a valuation of approximately $1 billion with this upcoming IPO. Qualified institutional buyers will be allotted 75% of the IPO shares, whereas non-institutional and retail investors will be allotted 15% and 10% of the shares, respectively.
Founded in 2014, Droom is a data science and technology-driven online marketplace that sells and buys used as well as new automobiles. It has been the greatest auto website in India, with over 65% of the market share (automobile transactions) online. Besides, it is the third biggest e-commerce entity in the country with respect to GMV. This platform is agnostic towards geography, condition, price, seller, and category. Droom has 3 pricing formats, i.e., auction, best price and fixed price and 4 marketplace formats, namely B2B, C2B, C2C and B2C. Interestingly, it offers various product categories from a bicycle to an aircraft and services such as auto loans, insurance, RSA and warranty. The company has filed the DRHP with SEBI and now awaits the market regulator’s approval to float its IPO.
On 11 November 2021, Droom filed its DRHP with SEBI to raise Rs. 3,000 crores through a public issue. The IPO consists of an offer for sale worth Rs. 1,000 crores and a fresh issuance of shares amounting to Rs. 2,000 crores. The promoters, namely Droom Pte Ltd and Sandeep Aggarwal, hold 100% of the company's stake. They may chalk out a private placement of shares worth Rs. 400 crores. If the firm undertakes a pre-IPO placement, then there will be a reduction in the size of the fresh issue. The lead coordinators in the issue are Nomura Financial Advisory and Securities (India) Private Limited, HSBC Securities and Capital Markets (India) Private Limited, Edelweiss Financial Services, Axis Capital and ICICI Securities.
20.Bharat FIH Limited
Starting in 2015, Bharat FIH is the largest EMS focused on manufacturing mobile phones. In FY2021, Bharat FIH's market share was 23% by revenue, double the second-largest EMS provider. As a company, its primary operation is Original Equipment Manufacturing (OEM) for brand partners.
The Bharat FIH's Rs 5003.8 crore IPO comprises new shares worth Rs 2501.9 crore and an offer for sale of the same valuation. Bharat FIH is the country's largest Electronics Manufacturing Service (EMS) provider, with a 23% market share by revenue. Rs 2501.9 crore raised from new shares will be used for funding working capital and meeting capital requirements for the upgradation and expansion of the company.
PharmEasy is a healthcare platform for consumers that offer online medicines, diagnostic tests, and consultations with doctors. Dharmil Sheth and Dr Dhaval Shah founded this company back in 2015. The parent company API Holdings Limited undertakes this firm's business. PharmEasy’s supply chain capabilities, technology, and proper understanding and knowledge of the dynamic interplay among the various sub-segments of India's healthcare market make the firm stand out.
The parent company of PharmEasy, API Holdings, is seeking regulatory approval to float an initial public offering (IPO). It hopes to raise Rs. 6,250 crores through a fresh issue of shares. The company also plans to sell shares held by existing investors through a separate offer for sale. The retail investor category will be allotted 10% of the IPO's shares, while qualified institutional buyers will be allotted 75%. Other non-institutional investors will be allotted 15% of the IPO's shares.
22. CMR Green Technologies
In the domestic recycling of aluminium, CMR Green Technologies is one of the top metal recyclers. It is largely concerned with recycling aluminium, which entails processing waste metal made mostly of aluminium to produce aluminium alloys and delivering them both in liquid and solid ingot form. The automotive sector accounts for a sizable share of India's overall secondary aluminium consumption, and demand from this sector is anticipated to increase at a CAGR of 14–15 per cent between Fiscal 2021 and Fiscal 2025. Making zinc alloys is another activity it does. Currently, the firm employs 12 production facilities, 10 of which engage in aluminium recycling activities geared at the Indian and international car manufacturing industries. These ten production sites are strategically positioned adjacent to the manufacturing facilities of our clients, enabling us to optimise deliveries, cut down on lead times, and promote stronger customer connections. They are all located in important auto clusters in north, west, and south India. Additionally, it is now constructing a cold refining facility in Gujarat to boost operational effectiveness and lower transport costs. In addition to recycling aluminium, we concentrate on sorting and recycling other metals like stainless steel, copper, brass, zinc, magnesium, and steel that are included in the mixed metal scrap that we purchase. We also recycle end-of-life vehicles ("ELVs") by disassembling, shredding, and sorting the components of ELVs.
The founders and investors of the metal recycling firm CMR Green Technologies have submitted preliminary documents to SEBI in order to raise capital through an initial share sale worth a fresh issue of equity shares valued at Rs. 300 crores and an offer to sell 3.34 crore shares. The business could think about a pre-IPO for as much as 60 crores. Promoters Gauri Shankar Agarwala (34.33 lakh equity shares), Kalawati Agarwal (up to 33.45 lakh equity shares), Mohan Agarwal and Pratibha Agarwal (up to 30.09 lakh equity shares each), and investor Global Scrap Processors (up to 1.99 crore equity shares) are among those selling shares through the OFS. The issue's book-running lead managers are ICICI Securities, Axis Capital, and JM Financial.
The ones you read above aren’t the only IPOs coming out in 2023. There are certain others still in the pipeline! Let’s take an overview of those!
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