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The Indian market is poised for a surge in initial public offerings (IPOs) in the coming months, with several prominent companies, including Hyundai Motor India, Swiggy, and NTPC Green Energy, preparing to launch their public debuts. These anticipated IPOs are collectively aiming to raise an impressive Rs 60,000 crore, signaling a strong investor appetite and a healthy economic outlook for the country.
Leading the charge is Hyundai Motor India Ltd, a subsidiary of South Korea's Hyundai Motor Company. The company is expected to raise a monumental Rs 25,000 crore, potentially surpassing the LIC's Rs 21,000-crore IPO and becoming the largest-ever initial share sale in India. This ambitious undertaking will entirely involve an offer-for-sale (OFS) of 14,21,94,700 shares by Hyundai Motor Company, with no fresh issue component.
Another major player in the upcoming IPO wave is Swiggy, the popular food and grocery delivery platform. The company is targeting a Rs 10,414 crore IPO, which will be a combination of a fresh issue worth Rs 3,750 crore and an offer-for-sale (OFS) component of 18.52 crore worth Rs 6,664 crore. This move reflects Swiggy's ambition to capitalize on the burgeoning online delivery market in India and further strengthen its position in the industry.
In the renewable energy sector, NTPC Green Energy, a subsidiary of the state-owned NTPC, is preparing to launch its Rs 10,000 crore IPO in early November. This IPO is strategically timed as India prioritizes its renewable energy goals and aims to attract investments in this crucial sector. The strong focus on sustainability and the government's initiatives are expected to fuel investor interest in NTPC Green Energy's IPO.
Beyond these prominent players, several other companies are gearing up for their IPO launches, including Afcons Infrastructure, Waaree Energies, Niva Bupa Health Insurance, One Mobikwik Systems, and Garuda Construction. These companies are seeking capital for a variety of purposes, including expansion plans, debt retirement, working capital requirements, and providing exit routes for existing shareholders.
The robust IPO market momentum can be attributed to several factors, including favorable macroeconomic conditions, strong sector-specific growth, and a willingness of funds to explore new investment opportunities. The robust inflows into domestic mutual funds and the positive capital formation taking place across corporate India are also playing a significant role in driving the IPO wave.
The influx of upcoming IPOs signifies a positive outlook for the Indian economy and a strong investor confidence in the future of these companies. As these IPOs are launched, it will be interesting to observe the investor response and the impact they have on the overall market dynamics.
Source: Upcoming IPOs in India: Hyundai, Swiggy, NTPC Green and more set to go public in coming months