Sources say that Ixigo, an Indian online travel app, has filed for an IPO in India. It is seeking $200M+ to raise funds.
Upcoming IPOs Only 3 companies, including Adani Wilmar and AGS Transact have announced their IPOs. The highest number of IPOs since 2010 was achieved by 63 companies. These companies raised Rs 1,19882 crore together through IPOs in the past year, a record high since 2010.
Market volatility has also been caused by rising crude oil prices, geopolitical tensions with Russia and Ukraine, and concerns about higher inflation. Many companies have delayed their IPO plans as a result.
Upcoming IPO(s), 2022
Many companies will be able to go public with their initial public offerings (IPOs) when the market conditions improve. Here are some companies that will be launching IPOs in 2022.
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List of upcoming IPOs for 2022
|Company Name||IPO Size (Rs. cr)||Upcoming IPO Date|
|Vedant Fashions (Manyavar).||3,150||8/02/2022|
|Arohan Financial Services||1800||2022|
|Fincare Small Finance Bank||1,330||2022|
|Seven Island Shipping||600||2022|
|Gemini Edibles And Fats||2500||2022|
|Srei Equipment Finance||NA||2022|
|ESAF Small Finance Bank||998||2022|
|Shri Bajrang Power And Ispat||700||2022|
|Medi Assist Healthcare Services||800||2022|
|Inspira Enterprise India||800||2022|
|Hinduja Leyland Finance||700||2022|
|Emcure Pharmaceuticals||1100 + OFS||2022|
|Vedant Fashion (Manyavar)||3149||February 4, 2022|
India’s Upcoming IPO: A brief profile of the companies
LIC IPO – The much-awaited LIC IPO was approved by SEBI to raise funds via an initial share sale. India’s market regulator approved the Draft Red Herring Prospectus (DHRP), filed by India’s largest insurance company. It was received within 22 days. The draft prospectus was filed by the company on February 12, this year.
Media reports claim that the mega IPO was delayed to the first quarter of FY23, which began in April. To raise Rs 63,000 crores, the government had planned to sell a 5% stake in the insurer by issuing 31.6 crore equity shares. The company is expected to be listed at a market value of around Rs 15 lakh crores. This makes it one of the most valuable insurance companies by market capitalization. The company also plans to reserve 10% of its IPO issue size for its policyholders and employees
Adani Wilmar IPO – Adani Wilmar, a leader in the edible oil market, is known for its cooking oil products under the Fortune Oil brand. It is one of the most prominent FMCG companies in India with a wide range of products. Adani Wilmar Limited IPO was opened for subscription on 27 January. It was subscribed 17.37 times.
AGS Transact Technologies IPO – AGS Transact Technologies Ltd IPO opened to subscription on 19 January. 7.79 people subscribed to the Rs 680 crore IPO. They are the country’s largest integrated omnichannel payment solution provider in India, providing both digital and cash-based solutions for corporate clients and banks.
Vedant Fashion IPO – Vedant Fashions Limited Ltd IPO opened to subscription on February 4th. Through the public issue, the company hopes to raise Rs 3149.19 Crore. The issue received a very low response and was only subscribed to 2.57 times by the end of the third day. Vedant Fashions is a brand that caters to Indian celebration wear markets. It is a one-stop-shop that offers a broad range of products for all occasions. Manyavar, Mohey, and Mebaz are their most popular brands.
Ixigo IPO- Le Travenues Technology Ltd., operator of the travel platform Ixigo, plans to raise Rs 1,600 Crore through an initial public offer. New issuances of shares in the amount of Rs 750 crore will be followed by an offer for the sale of equity shares of Rs 850 crore to existing shareholders. It is not only a travel platform but also offers travel technology products and services such as train PNR status, confirmation forecasts and train seat availability notifications, train running status notifications, delay forecasts, and train running status notifications.
Go Airlines IPO- GoAir (ultra-low-cost carrier) is a Go Airlines ULCC. It is India’s fastest-growing airline, with a rise in Indian market share of 10.8% to 8.8% in fiscal 2018, and 10.8% in fiscal 2020. 56 aircraft are part of the carrier’s fleet. The airline covers a network of 28 domestic destinations and nine international destinations as of January 31, 2020. The airline will issue equity shares in a fresh IPO, totaling Rs 3,600 crores.
PharmEasy IPO – The company offers a range of health services, including teleconsultation, radiology tests, and home delivery of medical devices and products. It intends to raise Rs 6,250 crore through equity shares.
Ola IPO – Ola, is a cab-hailing company that was founded in 2010 by Bhavish Aggarwal following the model of Uber in global markets. Ola has raised almost $4 billion since 2010, and the proposed IPO will likely target valuations between $8-9 billion. It is estimated that the IPO will be worth around Rs 15000 crore.
BYJU’S IPO – This app is about education. Students can get free online education. This app is designed for students in grades 4-12. It also contains information about competitive exams such as JEE, NEET, and IAS. Byju’s IPO is expected to raise approximately Rs 4500 crore.
Penna Cement IPO – It is India’s largest privately-held cement company and a major integrated cement player in terms cement production capacity. With an aggregate production capacity of 10 million tonnes per year, the company has four integrated manufacturing plants and two grinding units in Telangana and Andhra Pradesh. Through its public offering, it expects to raise Rs 1,550 million. The offer includes a new issue of equity shares totaling Rs 1,300 crore as well as a sale worth Rs 250 million.
Arohan Financial Services IPO – They are one the most prominent NBFC-MFIs in India. It is available in low-income and unpenetrated areas of India. Arohan Financial Services offers both insurance and credit products. They offer credit that can generate income and financial assistance. They offer insurance that covers life and health insurance products. It intends to raise Rs 1750 crore up to Rs 1800 crore. The company will issue a new issue of Rs 850 crores and then sell the rest.
MobiKwik IPO – They are one of the most trusted Buy Now Pay Later (BNPL), and mobile wallet providers. The company is a digital payment platform that aims to meet the growing credit needs of online consumers. This platform offers peer-to-peer payment services through UPI, MobiKwikWallet and MobiKwikWallet. Bank payments can also be made via this platform. MobiKwik’s IPO issue will amount to Rs 1900 crore. The offer includes a new share issue up to Rs 1500 crore as well as a sale of Rs 400 crore.
Delhivery IPO – Delhivery is India’s largest and fastest-growing fully integrated logistics service provider for FY21. It offers a complete range of logistics services including express parcel delivery and heavy goods delivery, partial truckload freight, truckload freight, and warehousing. The company will raise Rs. 5,000 crore through the issuance of new shares and an offer for sale component of Rs 2.460 crore.
Fincare Small Finance Bank (IPO) – This is a digital-first Small Finance Bank(SFB), with a focus on unbanked and underbanked customers, particularly in rural and semiurban areas. They have a business model that focuses on financial inclusion. Its goal is to offer affordable financial products and services to meet customers’ needs. They will be launching a Rs 1300 crore IPO that includes a new issue of Equity Shares totaling Rs 330 crore and an offer for sale of up to Rs 1000 million.
Paradeep Phosphates IPO – It is a leading manufacturer, trader, distributor, and sale of a variety of complex fertilizers, such as Di-ammonium Phosphate. The fertilizer and its products are sold under the brands Jai Kisaan Navratna & Navratna. It intends to raise as much as Rs 1,255 crore in fresh capital.
Sterlite Power IPO – The company is one of the most prominent private sector developers and providers of power transmission infrastructure. Through two business units, Global Infrastructure, and Solutions, the company provides integrated power transmission infrastructure and solution services. The IPO consists of a new issue of equity shares totaling Rs 1,250 crore.
Seven Island Shipping IPO – It is a seaborne logistic company that was established in 2002. It is involved in trading crude oil and petrochemical lubricants. This company’s primary goals include safe transportation, efficient operations, and a clean environment. The company intends to issue a public offering for funds in excess of Rs 600 crore. A fresh issue of Rs 400 crores will be included in the initial public offering, as well as an Offer for Sale worth Rs 200 crore.
Bajaj Energy IPO – is the largest private-sector thermal generation company in Uttar Pradesh. It finances, develops, and operates Indian thermal power plants. The total installed capacity of the company is 2,430MW. It has five operating plants each of 90 MW. The company plans to raise Rs 5450 Crores. This offer includes a new issue of Rs 5,150 crore as well as shares for sale up to Rs 300 crore.
Gemini Edibles and Fats IPO – It is related to the edible oil industry. They are also the largest integrated palm oil plantation company in the world, whose main activities include oil palm plantation cultivation in Indonesia. Through an offer for sale, it plans to raise Rs 2500 Crore through the IPO.
SREI Equipment Finance, IPO- is a company based in Kolkata and is part of SREI Infrastructure Finance Limited. The company offers loans to purchase equipment for the construction, irrigation, and water supply industries, civil aviation, mining, IT infrastructure development, and farming. Through its IPO, it plans to raise Rs 2000 Crore. There will be an offer to purchase IPO shares in the form of equity shares, new issue equity shares, of Rs 1100 crores.
ESAF Small Finance Bank IPO – ESAF Small Finance Bank IPO is one of India’s leading small banks in terms of client size, yield on advances, net income margin, asset under manager CAGR, total deposits, and loan portfolio concentration in rural areas and suburbs. It also has the highest ratio of gross advances to microloans. The IPO includes a new issue of shares in the amount of Rs 800 crore and an OFS in the amount of Rs 200 crore.
Chemspec Chemicals IPO is a major manufacturer of essential additives for FMCG ingredients that are used in hair and skin care products around the world. It also produces intermediates for pharmaceutical APIs that are used in the formulation of antihypertensive medications. Through an Offer for Sale (OFS), it plans to raise Rs 700 crore.
Shri Bajrang Power and Ispat IPO – India’s largest iron and steel company. It is one of India’s leading integrated steel companies and ranks among the top 10 in terms of iron ore pellet production. The IPO is expected to be worth Rs 700 crore.
SAMHI Hotels IPO (June 2019) – The company currently has 27 hotels and 4048 keys in India. They are present in all major cities, including Delhi, Bengaluru, and Hyderabad. SEBI has approved the company for an IPO of Rs 1800 crore to Rs 2000 crore. The new issue will include a fresh issue at Rs 1100 crore as well as an offer for sale (OFS), of 1,914,55624 equity shares.
Medi Assist Healthcare Services (IPO) – This is a technology-driven company that plays an important role in the healthcare insurance ecosystem. It is India’s largest provider of health benefits. The company has a total revenue of Rs 800 crore and provides premium services for all types and levels of health insurance policies. It has an IPO value of Rs 800 crore.
Inspira Enterprise India IPO – is a leader in digital transformation with a particular focus on cybersecurity. They offer cybersecurity and digital transformation services to clients. They have also executed large-scale cybersecurity transformation projects, and infrastructure and digital transformation projects. New issuances of equity shares up to Rs 300 crore are the initial share sale. An offer of sale (OFS), of equity shares in the amount of Rs 500 crore is also included.
Muthoot Microfin IPO – Muthoot Microfin is a leading microfinance institution that provides micro-loans to female customers, focusing on rural India. Their IPO will be worth Rs 800 crore.
Fusion Microfinance IPO – The company provides small-ticket loans to borrowers living in rural and semi-urban areas. It mainly works with unbanked populations. This issue will include a new issue of Rs 600 crore and an offer to sell 2,19,668,841 equity shares.
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Hinduja Leyland Finance (IPO) is a multi-billion-dollar vehicle finance NBFC in India. It focuses on the urban and semi-urban markets. It offers retail finance via a variety of vehicle financing and other housing finance products. Through its IPO, it will raise approximately Rs 700 crores. It includes a new share issue of Rs 500 crores and an offer to sell by Everstone Capital.
VLCC Healthcare IPO – It manages VLCC branded beauty and wellness clinics, as well as institutes for nutrition and skill development. It also produces and sells VLCC-branded personal care products. New issuances of equity shares in the amount of Rs 300 crore are part of the IPO.
Studd Accessories IPO – The world’s largest producer of two-wheeler helmets. It is present in more than forty countries, including India. The only Indian laboratory with European Safety Agency and Safety certification for the use of the most advanced technology is theirs. It will be able to raise Rs. 450 crores through an IPO. This would include new issue shares of Rs. 98 crores as well as an OFS of approximately 39.39 million shares for promoters and shareholders.
Boat IPO – Boat, India’s largest direct-to-consumer, audio-focused electronic brand, has filed a draft prospectus with SEBI for an Rs. 2,000 crore IPO. In the IPO that will be launched this year, the New Delhi-based company expects to get a valuation of $1.5-2 Billion.
Bain Capital-backed Emcure Pharmaceuticals IPO – Emcure Pharmaceuticals develops, manufactures, and markets a wide range of pharmaceutical products in a variety of therapeutic areas. According to the draft red herring prospectus, (DRHP), the initial public offering (IPO), includes fresh issuances of equity shares in the number of Rs 1,100 crore, and an offer of sale (OFS), of 18,168.356 equity shares by existing shareholders and promoters.
Are we likely to see another record-breaking year in 2022
The year 2021 was the best year for IPOs with 63 companies raising 1.20 crore.
|Year||No. No.||Amount Raised (Rs Cr)|
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The huge IPO pipeline in India means that 2022 will be another record year for the Indian IPO market. It would be fascinating to see which IPOs launch in the first half. We will soon share our detailed reviews of each IPO. Keep checking back!