Produced by: Tarun Mishra Designed by: Manoj Kumar
Shares of Tata Technologies, IREDA and Gandhar Oil refinery made a stellar debut on the National and Bombay Stock Exchanges this week, with Tata Technologies soaring 180% and IREDA rising 115% over its IPO price. As the Nifty and Sensex approach their all-time highs, the primary market in India is abuzz once again after a hiatus of two years. Let’s take a look at some of the upcoming IPO’s in the Indian stock market.
According to a report by Reuters, Bhavish Aggarwal’s Ola Electric has undertaken significant corporate restructuring in the past few months, including transitioning from a private limited company to a public entity, setting the stage for its imminent Initial Public Offering (IPO). The IPO is anticipated to be in the range of $800 million to $1 billion.
Oyo, led by Ritesh Agarwal, is actively engaging with multiple private equity firms, seeking to raise approximately half a billion dollars in a large private funding round, said a report by CNBCTV18. The company is waiting for regulatory approval for its impending IPO, with an expected valuation exceeding $6 billion.
According to a report by Reuters, food delivery giant Swiggy is gearing up for its planned IPO in 2024, reportedly selecting seven investment banks for key roles in the offering. Among them are Kotak Mahindra Capital, Citi, and JP Morgan, with four others, including Bofa Securities, Jefferies, ICICI Securities, and Avendus Capital, also expected to play advisory roles.
Mobikwik, the fintech unicorn, is reviving its preparations for an IPO, targeting to raise $84 million through the public listing. A Bloomberg report said that the company has reportedly chosen DAM Capital Advisors Ltd and SBI Capital Markets Ltd to work on the IPO, with plans to file its draft red herring prospectus (DRHP) as early as December.
Tata Technologies Ltd witnessed a remarkable debut on both NSE and BSE, listing at a premium of 140% over its issue price of Rs 500. The stock continued its upward trajectory, surging an additional 17% to Rs 1,400 on both exchanges, culminating in an overall gain of 180%.
Indian Renewable Energy Development Agency (IREDA) made an impressive debut on stock exchange, gaining 115% over its IPO issue price of Rs 32. With an intraday high of Rs 68.91 on BSE, IREDA's market cap rose to Rs 17,682 crore, showcasing strong investor confidence.
Gandhar Oil Refinery (India) surpassed analyst expectations, listing at a premium of 75% on exchanges against its issue price of Rs 169 per share. The IPO, oversubscribed 64.07 times, saw strong interest from qualified institutional buyers, retail investors, and high net-worth individuals.
The recent success stories of Tata Technologies, IREDA, and Gandhar Oil Refinery, coupled with the anticipation surrounding upcoming IPOs from Ola, Oyo, Swiggy, Mobikwik and others, reflect a positive market sentiment. Investors are keeping a keen eye on these big-ticket IPOs as the primary market experiences renewed excitement and participation