From Indian Railway Finance Corporation Limited (IRFC) IPO to CarTrade Tech, Indian stock market has witnessed over 40 public issues' listing in 2021. But, it seems that Initial Public Offering (IPO) rush is not going to end in near time. The IPO market has set news record this month, as by 20th August 2021, 23 companies have submitted their documents at the market regulator Securities and Exchange Board of India (SEBI) seeking permission to launch its primary shares worth ₹40,000. As per the PTI report, most of these 23 companies are from the startup space such as fintech, e-commerce, online travel and SaaS (software-as-a- service) segments.
This list of 23 companies seeking SEBI's permission to launch its primary shares include Delhi-based PB Fintech — the promoters of insurance distributor Policybazaar. It has submitted its documents at SEBI seeking nod for a ₹6,000-crore issue; and the Pune-based Emcure Pharma that is seeking to raise ₹5,000 crore.
The list of 23 also include Mumbai-based online fashion and apparel brand Nykaa, whose holding firm FSN E-Commerce, has filed for an ₹4,000 crore issue.
The list also includes the Gurugram-headquartered Le Travenues Technology, the promoters of online travel booking firm Ixigo, which is looking to collect ₹1,800 crore from an issue; and Rategain Travel Technologies, the first SaaS (software-as-a-service) company to go public in the country with a ₹1,500 crore issue; and the Noida-based Rategain is the country's largest SaaS firm in the hospitality and travel space.
Another main issue of ₹1,500 crore is from the Kolkata-based Tarsons Products that manufactures a range of quality lab-ware products. Tarsons has a diversified product portfolio with over 1,700 stock-keeping units across 300 products and operate five manufacturing facilities in Bengal.
Other mid-sized IPOs include the Kochi-based automobile retailer Popular Vehicles & Services which last week filed for a ₹700-crore issue; beauty care & wellness firm VLCC; Sapphire Foods which operates all the Yum Brands outlets in the country like KFC, Pizza Hut and Taco Bell; Go Fashion India (Go Colors); Fusion Microfinance; and the payment solutions provider AGS Transact Technologies which filed a ₹800-crore issue on Friday.
In 2021 till date, over 40 new public issues' listings have raised near ₹70,000 crore. The zeal and enthusiasm of IPO bidders, especially retail segment subscribers, is quite visible with many IPOs being oversubscribed while some of them have managed to get subscribed over 100 times of its offer. Many brokerages say that total number of issues may well top the 100-mark in 2021.
The IPO market is so hot that it has caught the attention of the monetary authority which in its latest bulletin says "year 2021 could well turn out to be the year of IPOs for the country".
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