The IPO market was shallow in 2022. But, some giants have bought the ticket to hop into the
IPO bus in 2023.
Let’s explore which companies those are.
What’s happening?
In 2021, Rs 1.2 lakh crore was raised through IPOs. But, it seems that the markets fell out of love with IPOs in 2022 as it could only raise Rs 57,000 crore. By the end of the year, some IPOs managed to gain the buzz, like Sula Vineyards and Landmark Cars Limited, but they didn’t perform that well.
With the glorious start of 2023, a few big names have bought the tickets to hop into the IPO bus this year. Let’s find out which ones are those.
OYO
While planning a vacation, we often book OYO rooms for short stays. This year, you may also be able to book shares of the company as it plans to come up with an IPO.
As we all know, OYO’s business is focused on short-stay accommodation. But you will be surprised to see that they have over 1,57,000 hotel storefronts in India and overseas. Moreover, it offers services to its partners and customers across 35 countries.
According to the DRHP of OYO, the company will raise Rs 84,300 million through the IPO, out of which Rs 70,000 million will be raised through a fresh issue and 14,300 million through an offer for sale.
Swiggy
Swiggy has a famous tagline - delivering happiness to your doorstep. This year, it will deliver more happiness to our doorsteps as it is also in line to hop into the IPO bus.
Since Swiggy came into existence, it has been expanding its business by adding services like delivering groceries through Instamart, Genie, the loyalty program and dine-out. Moreover, the company has established a strong presence in the food delivery space, with over 150 thousand restaurants and 260 thousand delivery executives delivering happiness to its users.
According to the DRHP, the company will offer up to 1,75,69,941 equity shares to the public.
Yatra
Yatra will be going on an IPO yatra in 2023. It is a leading online travel service provider in India. In 2016, the company was listed on Nasdaq and will now be listed in the Indian markets. According to the DRHP, the company will raise Rs 750 crores by issuing an IPO.
Fabindia
Forget about buying a kurta when you can buy the stocks of the leading ethnic wear company, Fabindia! The company is backed by Mr Azim Premji. The speciality of the products is that it is produced by over 40,000 village artisans and craftsmen across India.
Moreover, two company promoters intend to transfer around 7 lakh shares to the artisans and farmers engaged or its subsidiaries to reward and express gratitude towards them.
The company is looking to raise Rs 5,000 million from the IPO.
Go First
Go First, previously known as Go Air, is going on air. The company belongs to the parent company, which owns famous brands like Bombay Dyeing and Britannia Company. Yes, we are talking about the Wadia Group. Go First offers ultra-low-cost carriers and is one of the fastest-growing airlines in India. The company is planning to raise Rs 36 billion through the IPO.
What’s next?
This was just a trailer, but there is a long list of upcoming IPOs. It seems 2023 will be a blockbuster year for the primary markets, and the markets will fall in love with IPOs again.
