Five firms are on their way to launch their IPOs in the first half of November, and these include Paytm parent One97 Communications and Policybazaar parent company PB Fintech as well.
The IPOs plan to raise more than Rs. 27000 crores in total.
Five Firms To Launch IPOs; Plan to Raise Over Rs. 27000 Crores
In October, we reported the plans of almost 35 companies to conduct IPOs between October and December, to raise nearly $800 billion. We also reported that in the upcoming months of October and November, 30 companies are now planning to raise more than Rs. 45,000 crore through initial share-sales, and this has been confirmed by merchant banking sources.
Technology driver companies are the ones who will make up for a major part of the total fundraising.
As per reports, more than Rs. 20,000 crores have been raised by Indian companies in the second half of 2020 and nearly Rs. 40,000 crore in the first half of 2021.
Other than One97 Communications and PB Fintech, the other three companies that will launch their IPOs are Sapphire Foods India, which operates KFC and Pizza Hut outlets, decorative aesthetics supplier SJS Enterprises, and microcrystalline cellulose manufacturer Sigachi Industries.
Sapphire Foods, One97 Communications To Launch IPOs in November
Fino Payments bank and FSN E-Commerce Ventures Ltd, the parent company of Nykaa, an online platform for beauty and wellness products are currently open for public subscription.
Nykaa is hoping to raise Rs 5,352 crore through its IPO, while fintech firmFino Payments Bank is seeking to build Rs 1,200 crore through the initial share sale.
One97 Communications will be launching an IPO worth Rs. 18300 on November 8. As per reports, the IPO consists of fresh issues of equity shares worth Rs 8,300 crore and Rs 10,000 crore from an offer for sale (OFS) by existing shareholders.
Policybazaar and Paisabazaar parent company PB Fintech will be launching a fresh issue of Rs 3,750 crore worth of equity shares and an offer for sale of about Rs 1,960 crore by existing shareholders.
Whereas, Sapphire Foods India will be launching an IPO on November 9 and conclude on November 11. The IPO will be an offer of sale of 1,75,69,941 equity shares by promoters and existing shareholders. The IPO is expected to build Rs 1,500-2,000 crore.