The year 2022 has been an excellent year for IPOs in India. Believe it or not, a record number of businesses got listed in 2022. Financial experts suggest that 2023 shall also see a similar momentum in the Initial Public Offering (IPO) segment. This is the result of the Indian government’s pro-business policies and rapid digitization.
Even though the dates of most upcoming IPOs have not been finalized, the forthcoming IPO pipeline seems exciting and promising for all wealth creation enthusiasts. For all curious investors out there, here is a list of 10 big IPOs to watch out for in 2023.
Go Airlines India Ltd
One of India’s most popular budget airlines Go Airlines owned by the Wadia Group, the parent company to the Britannia Company and Bombay Dyeing, strives to raise about INR 3,600 Crores through its Initial Public Offering, expected to roll out in 2023. It has a market share of about 10.8 per cent in 2020. Once Go Air rolls out its IPO, its market share is expected to grow through its ultra-low-cost carrier model.
Mamaearth
Mamaearth was founded in the year 2016 as a baby care brand. It is now a skincare and beauty brand that operates in India, the Middle East, and South East Asia. Its parent company Honasa Consumer has acquired and nurtured many brands such as DSeth’s, BBlunt, Ayuga, Aqualogica, and The Derma. Co, and Mamaearth.
Mamaearth has announced its Initial Public Offering in 2023 and plans to raise INR 24.39 Billion in funding in about eight rounds from investors such as Fireside Ventures, Stellaris Ventures, and Sequoia India.
Swiggy
Swiggy is a Bangalore-based online food ordering and delivery portal. It was founded in 2014 and serves over 500 cities currently. Swiggy also delivers packages and groceries via Swiggy Genie and Swiggy Instamart. It has a partnership with over 150 restaurants and has a robust fleet of over 260 thousand delivery executives. Very recently, it has also acquired Dineout, which is a leading restaurant and dining-out platform in India.
Swiggy has announced to roll out its IPO in 2023. It plans to raise about INR 81.31 Billion. It was already preparing for its Initial Public Offering and has recruited ICICI Securities and JP Morgan to run its books. So far, Swiggy has raised around INR 292.71 Billion in 15 rounds of funding.
BYJUs
BYJU’s is one of India’s largest Edtech giants. Its learning platform has more than 50 million registered students and more than 3.5 paid subscriptions. Byju’s offers students technology-enabled and personalised learning with the help of the best teachers and engaging content. Byju’s is planning to raise INR 81.39 Billion through its IPO in 2023 for its tutoring arm, Aakash Educational Services. It has already raised about INR 447 Billion from investors such as Tiger Global, Qatar Investment Authority, and Blackrock.
PharmEasy
PharmEasy is a renowned healthcare platform that offers its consumers diagnostic tests, medicines, and consultations with doctors. This platform also offers its consumers digital tools and illness and wellness-related information. It further provides teleconsultations and delivers diagnostic tests and treatment protocols, including devices and products.PharmEasy’s parent company API Holdings is seeking regulatory approval to roll out its IPO in 2023. It hopes to raise INR 6250 Crores through its Initial Public Offering. This is expected to be a fresh share issue. No investor or shareholder shall be selling off their stake in the company.
Oravel Stays (OYO)
OYO is a new-age digital platform that offers hospitality services founded in 2013. It has a footprint of over 157000 hotel storefronts nationally and internationally. OYO is one of the most prominent and most awaited IPOs of 2023.
OYO filed its Draft Red Herring Prospectus (DRHP) in the month of October 2021. As per the prospectus, it plans to raise INR 84.3 Billion, out of which INR 14.3 Billion shall be through stake sale by the existing investors and stakeholders, and the remaining INR 70 Billion shall be from fresh issues.
Bajaj Energy
Bajaj Energy is one of the most influential private market players in the thermal power generation Industry. It has a gross capacity of 24330 MW.
Bajaj Energy intends to raise INR 5450 Crores through its Initial Public Offering in 2023. This shall consist of fresh issue shares priced at approximately INR 300 per share worth INR 5150 Crores and the remaining through the sale of stakes of existing investors and stakeholders.
FabIndia
FabIndia is a 6-decade old lifestyle retail brand. It has more than 311 stores across 118 cities in India and 14 international stores, and 74 Organic India Stores. This Azim Premji-backed lifestyle brand plans to raise INR 4000 Crores through its IPO in 2023. Its Initial Public Offering shall comprise fresh issue shares worth INR 500 Crores and an Offer For Sale (OFS) of up to 2,50,50,543 shares worth INR 3500 Crores.
Credit Suisse Securities (India) Pvt Ltd, ICICI Securities Ltd, JP Morgan India Pvt Ltd, Securities (India) Pvt Ltd, Nomura Financial Advisory, Equirus Capital Pvt Ltd, and SBI Capital Markets Ltd are the lead managers of the issue.
Tata Play and Tata Technologies
For the Tata Group fans, 2023 is a time to rejoice. After TCS’s IPO in 2004 Tata Group is now rolling out two Initial Public Offerings. One for Tata Play, previously known as Tata Sky and Tata Technologies.
The Tata Group plans to raise INR 2500 Crores through Tata Play’s IPO and INR 1500 Crores through the IPO of Tata Technologies. Tata Technologies is expected to roll outs its IPO as early as the April-June quarter of 2023. However, Tata Play’s IPO is expected to roll out before Tata Technologies in 2023.
Get in touch with Eureka’s Financial Experts to know more about upcoming and promising IPOs and how to add Initial Public Offerings to your investment portfolio to amplify your wealth creation effortss.
