New Delhi | Jagran Business Desk: At least 30 companies are looking to collectively raise over Rs 45,000 crore, in the month of October-November through initial public offerings (IPOs), merchant banking sources said. A large chunk of the total fundraising would go to technology-driven companies.
The successful IPO of food delivery company Zomato encouraged new tech companies to come out with their primary share-sales. Zomato's IPO was subscribed 38 times.
The firms that are expected to raise funds through their IPOs during October-November include:
Policybazaar (Rs 6,017 crore), Emcure Pharmaceuticals (Rs 4,500 crore) Nykaa (Rs 4,000 crore), CMS Info Systems (Rs 2,000 crore), MobiKwik Systems (Rs 1,900 crore).
Other companies that may float their IPOs during the period under review include:
Northern Arc Capital (Rs 1,800 crore), Ixigo (Rs 1,600 crore), Sapphire Foods (Rs 1,500 crore), Fincare Small Finance Bank (Rs 1,330 crore), Sterlite Power (Rs 1,250 crore) RateGain Travel Technologies (Rs 1,200 crore) and Supriya Lifescience (Rs 1,200 crore)
Zomato's successful fleet
Usually, companies like Zomato raise funds from private equity companies, however, the IPO has opened up a new source of funding for new-age tech companies, Jyoti Roy, deputy vice-president (equity strategist) of Angel One, said.
Roy said that the stronger-than-expected recovery in the economy after the epidemic is one of the reasons for preparing for many big IPOs in the coming month.
IPOs expected to extend in large numbers:
The IPO boom is expected to extend in the coming year if the prevailing market situation remains constant or doesn''t change much, Kaushlendra Singh Sengar, founder and CEO at INVEST19, said.
Nikhil Kamath, co-founder of True Beacon and Zerodha, said if the bull run continues for the next 1-2 years, the IPO rush will continue. Moreover, the technology sector is expected to remain a major market driver.
IPO so far
In 2021, as many as 40 companies have floated their IPOs to raise Rs 64,217 crore. Aditya Birla Sun Life AMC will launch its Rs 2,778-crore initial share-sale on September 29.
(With inputs from PTI)
Posted By: Sugandha Jha
- Initial Public Offering
- Emcure Pharmaceuticals
- CMS Info System
- MobiKwik Systems
- IPOS news
- infrastructure investment trust
- upcoming ipo
- policybazaar ipo
- nykaa ipo
- ipo in october november
- 30 companies ipo
- float public issues
- Initial public offering
- Northern Arc Capital
- Sapphire Foods
- Fincare Small Finance Bank
- Sterlite Power
- RateGain Travel Technologies
- Supriya Lifescience Corporate finance
- Private equity
- Corporate Financial Services (NEC)
- Industrial Machinery