Fresh Wave of IPOs to Hit the Market in May ๐
Get ready for a surge of initial public offerings (IPOs) hitting the market this May, driven by the positive market sentiment and a lack of concern about the usual volatility associated with election seasons. Companies like Indegene, Aadhar Housing Finance, TBO Tek, Go Digit, Awfis Space Solutions, Kronox, and more are gearing up to raise over โน10,000 crore from public offerings this month. In 2024 alone, 24 companies have already raised a staggering โน18,000 crore through IPOs. The national elections are scheduled to take place in phases until June 1.
Big Players in the IPO Game ๐ฆ
- Indegene, a health tech firm backed by Carlyle, is set to raise โน1,842 crore with a price band of โน430-452 per share, opening for public subscription on May 6.
- Aadhar Housing Finance, owned by Blackstone and aiming for a โน3,000 crore IPO, will enter the primary market in mid to late May, with a reduced offer for sale from โน4,000 crore to โน2,000 crore.
The strong interest from both domestic and foreign investors has shielded the primary market from the usual impacts of elections, geopolitical events, and inflation. Positive sentiments towards India are keeping investors hungry for quality IPOs, regardless of external conditions, according to industry experts.
Exciting New Entrants ๐
- Go Digit General Insurance, with a public issue worth โน1,250 crore and an offer for sale by promoters and existing shareholders.
- TBO Tek, a leading travel distribution platform planning to raise over โน1,000 crore through its IPO, offering fresh equity and an OFS of up to 15.6 million shares.
The primary marketโs resilience, fueled by strong investments from both local and international portfolio investors, sets the stage for continued momentum in IPOs, building on the successes of recent major public offerings in India.
Recent Success Stories ๐
- Vodafone Ideaโs โน18,000 crore follow-on public offer (FPO) was oversubscribed seven times, and the shares are trading at a 20% premium.
- Bharti Hexacom, listed on April 12 with a โน4,275 crore IPO, is currently trading at a 52% premium.
Ola Electric Mobility is eyeing an IPO of around $1 billion before the election results, pending approval from the Securities and Exchange Board of India (Sebi). If approved on time, the IPO will include up to โน5,500 crore through a fresh issue and an offer for sale by existing investors of 95.2 million shares.
Hot Take: The Future of IPOs in India ๐ฎ
With a flood of IPOs set to hit the market in May, driven by strong investor interest and positive market conditions, the Indian IPO landscape is looking vibrant and promising. Companies across various sectors are gearing up to tap into the growing investor enthusiasm, setting the stage for an exciting period in the primary market. Stay tuned for more updates on the latest IPO launches and their impact on Indiaโs financial landscape!
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