Ipos Coming Out This Week – The last week of April 2022 saw significant IPO activity after a long time. Campus Activewear, India’s largest sports and leisure footwear maker, has raised Rs 1,400.14 crore through an offer for sale. It is a well-known retail brand and till close was grossly undersubscribed at 51.75 times with QIBs leading the way, followed by NIIs and retailers.
The other Rainbow Children’s Medicare IPO combined with a fresh issue of Rs 280 crore and an OFS of Rs 1,300.85 crore took the total issue size to Rs 1,580.85 crore. Rainbow started in 1999 in Hyderabad and has become a strong name in childcare.
Ipos Coming Out This Week
While the previous two IPOs set the tone for renewed interest in IPOs, LIC’s IPO announcement is the big news. LIC IPO opens on 4th May and will close for subscription on 9th May. The government will sell only 3.5% stake against the original plan of 5% stake.
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The total stake sale was valued at Rs 21,008 crore, up 15% from Paytm’s IPO. However, due to the global geopolitical scenario and changed market conditions, LIC’s valuations had to be reduced from Rs 12 trillion to Rs 6 trillion.
A long list of approved IPOs is waiting for the LIC IPO to be completed. With the LIC dates over, we should see a rush of other IPOs in the next quarter. Naturally, there are very high expectations about the success of LIC’s IPO.
While the dates and price bands of the non-LIC companies are yet to be announced, here is a quick summary of the companies likely to hit the IPO market in the month of May/June 2022. The list below is just a indicative list for now.
LIC’s IPO will be a purely tender sale where the government will bring 3.5% of its stake or about 22.14 million shares to the public at a price of Rs 902-949. The issue size is Rs 21,008 crore and the shares are expected to list before May 17.
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LIC IPO opens on May 4 and closes on May 9. It has shares reserved for employees and policyholders. Policyholders get a discount of Rs 60 on the discovered price, while retail investors (including employees) get a discount of Rs 45 on the discovered price.
India’s leader in online trading and one of the world’s largest stock exchanges in terms of derivatives volumes, NSE will hit the IPO market after a long delay. NSE has finally received approval from the regulator to go ahead with its Rs 10,000 crore IPO. Under the existing rules, stock exchanges cannot list on their own exchanges, so NSE can see multiple listings on the BSE and the international stock market.
One of India’s first and most successful hospitality companies in digital rooms plans to tap the market to raise Rs 8.43 billion. However, the company is likely to settle for low costs and low valuations. OYO’s IPO includes a fresh issue of Rs 7,000 crore and an offer for sale of Rs 1,430 crore to existing holders.
One of India’s leading new-age logistics companies plans to tap the IPO market with a Rs 7.46 billion IPO. It consists of an offer for sale of Rs 2,460 crore and a fresh issue of Rs 5,000 crore.
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Delhivery manages end-to-end logistics services for many e-commerce players in India and serves one of the largest PIN networks nationwide. The IPO was put on hold for a while due to the uncertainty surrounding the listing of digital IPO results.
India’s largest local taxi ride-hailing service plans to go public with a Rs 7.3 billion public issue. As of now, Ola Cabs is yet to finalize whether it wants to go ahead now and if so, at what ratings and at what issue size.
The issue size and ratings of Ola taxis are likely to be reduced. Ola Cabs has also gone big on electric scooters as part of its electric vehicle franchise improvement plan.
API Holdings Ltd, the company that owns the PharmEasy brand, is an online portal that connects pharmacies and customers and is one of the largest online drug retailers. The portal is also rich in content to include online medical consultation and online prescriptions. The issue size is estimated to be around Rs 6,250 crore. The proceeds from the IPO are primarily used to pay down the company’s debt.
Upcoming Ipo This Week
The Rs 5,450 crore IPO consists of a fresh issue of Rs 5,150 crore and an offer for sale of Rs 300 crore. Of the new proceeds, Bajaj Energy plans to use about Rs 4,927 crore to acquire Lalitpur Power Generation Company.
However, Bajaj Energy is a pure thermal power company, but over the past few quarters, the valuation metrics for power companies have clearly been shifting in favor of renewable energy companies.
Bharat FIH is the Indian arm of Taiwan-based Foxconn and is mainly into electronic manufacturing services (EMS). The IPO of Rs 5,004 crore will be split equally between the fresh issue and the offer for sale.
Part of the new issue is mainly used by the company to pay a special dividend to its parent company. One of Bharat FIH’s biggest customers in India is China-based Xiaomi Mobiles. Globally, Foxconn is one of Apple Inc.’s largest subcontractors.
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Emcure Pharma is one of the leading pharmaceutical companies in India and is headquartered in Pune. The company plans to come up with a public issue of Rs 4,500 crore, which through the latest issue will raise Rs. 1, 100 crore and through the Offer for Sale (OFS) Rs. 3.4 billion. The proceeds from the new issue will be used to pay the company’s debts.
The Rs 3,600 crore IPO will consist of a completely fresh issue. The proceeds of the issue will be used to reduce the debt owed to IOCL, including debts such as fuel and aircraft lease arrears. GoAir, according to the latest DGCA data, has a market share of 9.1% on domestic routes.
Bot Electronics is mainly in the business of audio equipment and wearables. It has a product portfolio that includes headphones, earphones, wireless speakers and wearables. The Rs 2,000 crore IPO consists of a fresh issue of Rs 900 crore and an offer for sale of Rs 1,100 crore. The promoter and founder of the company is a famous name and an active participant in Shark Tank and other popular shows.
Droom Technologies IPO is a fresh issue of Rs 3,000 crore from Rs 2,000 crore and an OFS of Rs 1,000 crore. Droom offers a marketplace to buy and sell new and used cars and two-wheelers and competes with companies such as CarTrade and Cars24. The new issue will be used for organic and inorganic growth in the coming years.
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Jana Small Finance Bank is specializing in rural and semi-urban areas of India with a greater objective of financial inclusion in these areas. The Rs 2,000 crore IPO will be split into an offer for sale of Rs 1,300 crore and a fresh issue of Rs 700 crore. Being a small finance bank, it uses funds from new revenue to improve its Tier 1 capital.
MobiKwik’s Rs 1,900 crore IPO consists of a fresh issue of Rs 1,500 crore and an OFS of Rs 400 crore. The issue was supposed to launch in the December 21 quarter, but was postponed due to Paytm’s weak share price. MobiKwik offers a robust payment wallet as well as a special BNPL (Pay No Later) digital plan for customers and merchants.
Arohan Financials’ IPO consists of Rs 1,800 crore in a fresh issue of Rs 950 crore and an offer for sale of Rs 850 crore. Arohan is an NBFC and also in microfinance serving the unpenetrated segments of the market. An IPO will help increase your capital adequacy.
Northern Arc Financial’s public issue consists of a fresh issue of Rs 300 crore and an offer for sale of 365.21 lakh shares. Northern Arc extends small-ticket loans to individuals and small businesses. The latest issue will be largely used to increase its Tier 1 capital base so that it can easily expand its asset book in the future.
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The Rs 1.6 billion IPO consists of a fresh issue of Rs 850 crore and an offer for sale of Rs 750 crore. It is one of the few AI-based platforms for booking flights, trains and hotels and has been around for 14 years. Although it is in the travel business, its business model is more B2B in nature.
The Rs 1,550 crore IPO consists of a fresh issue of Rs 1,300 crore and an offer for sale of Rs 250 crore. This is it
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