The initial public offering (IPO) season in the Indian stock market seems to gain more pace by each month as more firms have lined up to list on domestic stock exchanges later this year. According to SEBI, at least 35 companies have filed papers to launch IPOs by December 2021. So far, 42 IPOs were launched in the first nine months of the year raising around Rs 670 bn in the Indian stock market.
The rise in the number of firms launching IPO shows positive signs for the market recovery from the previous financial year due to the COVID-19 pandemic. Recently launched IPOs including Zomato and Glenmark have done well in both NSE and BSE. Sensex is on its way to new record highs and the positive results of most of the previous IPOs have given more firms the confidence to enter the market. With a list of IPOs to come in the next few months, here’s a look at the top ones likely to launch in October.
Digital payments and financial services firm Paytm is launching its IPO this year and it is likely to be listed by the end of October. The company had earlier filed draft papers for its Rs 16,600 crore IPO with the market regulator on 15 July 2021. According to the DRHP (draft red herring prospectus) filed before the Securities and Exchange Board of India (SEBI), the company plans to use the new funding to strengthen its ecosystem with acquisition merchants and providing them with greater access to technology and financial services.
Fast Moving Consumer Goods (FMCG) giant Adani Wilmar Ltd is eyeing a major debut in the Indian Capital Market. Adani Wilmar, a joint venture between Gautam Adani's Adani Group and Singapore's Wilmar, had filed its DRHP with SEBI for around Rs 4,500 crore IPO. The largest manufacturer of oleochemicals in India, the company now aims to raise capital for expansion of its manufacturing facilities and repayment of borrowings with the IPO.
Private equity firm Blackstone Group-backed Aadhar Housing Finance is yet another upcoming IPO likely to be launched in the coming weeks. The company with its listing aims to raise Rs 7,300 cr to strengthen its capital base. The company is among the largest affordable housing finance companies in the country with branches across 20 states and union territories. The company currently holds assets under management of over Rs 12,200 cr.
Fertiliser company Paradeep Phosphates, Mumbai-based crude oil carrier and seaborne logistic company, Seven Islands Shipping, Mandala Capital-backed FMCG firm Keventer Agro and Kolkata-based micro-finance lender Arohan Financial Services is a few other IPOs that could be listed in the coming weeks. Apart from these, companies ready to launch IPOs between October 2021 and December 2021 includes LIC, PolicyBazaar, Nykaa, PharmEasy, Mobikwik, Star Health Insurance, Emcure Pharmaceuticals and Ixigo.