IPO Upcoming 2024: New IPOs create a great opportunity to make money

IPO Upcoming 2024: After a blockbuster year in 2023, we are now approaching the end of 2024, with the primary market set to kick off in 2024. Only three companies, including Doms and Muthoot Microfin, have ventured into their IPOs so far. This is a significant shift from the previous year when around 92 companies went public, marking the highest since 2022.

Rising crude oil prices, geopolitical tensions between Russia and Ukraine, and worries about excessive inflation have all contributed to the market’s increased volatility.Many businesses have therefore decided to delay their IPO preparations. Looking ahead to 2024, there are predictions for eight startup IPOs.

According to a recent EY report on Q3 2023 IPO data, the Indian IPO landscape is witnessing growth fueled by robust economic activity and positive sentiments from domestic and foreign investors. This momentum is expected to continue into the second half of 2024.

Let’s now delve into the anticipated major trends in the Indian new-age technical IPO market next year. In 2024, new-age technical IPOs could be categorized into three groups:

1. Companies that have already submitted their draft red herring prospectus (DRHP) to SEBI.
2. Companies that had initially filed their DRHP but withdrew or did not get listed due to uncertain market conditions.
3. Companies that initiated aggressive work on their IPO plans this year.

In the first category, startups like New Technologies, GoodDigit, PayMate, Portia, AbixCash, and Oyo have already submitted their IPO documents confidentially to SEBI. The combined size of these startup IPOs is approximately INR 20,250 crores.

It’s worth noting that after the NSE-listed Abix filed for delisting, the IPO of AbixCash seems unlikely.

Other notable names in the market include Travel Boutique Online (TBO Tech), Agri-drone company ATMS Ventures, and Online marketplace TBio Tech, which filed their DRHPs in 2023.

Mobikwik, Capillary Technologies, Ixigo, and Snapdeal are in the second category. While fintech unicorn Mobikwik has reportedly restarted its IPO plans, there are no updates on the timeline for the rest. These companies are likely aiming for a public listing in 2024, hoping for improvements in market conditions.

Swiggy and Ola Electric are among the most anticipated IPOs. Altogether, there is an expectation of at least 10 technical startups getting listed next year. Swiggy and Ola Electric have already initiated discussions, making them the most watched IPOs among startups.

After gaining a significant market share in the domestic EV market, Bhavish Aggarwal has decided to take Ola Electric public, contrasting with the decision to halt the IPO plans of Ola Cabs in 2022.

Despite Swiggy’s continuous cash burn in the fiercely competitive food delivery and quick commerce sector, reports suggest that the startup is considering a market capitalization of billion for its IPO.

On the other hand, Ola Electric’s IPO, if successful, will become the largest IPO by an internet company next year, with an expected issue size of billion (INR 8,300 crores).

As we bid farewell to the past year, let’s get ready for 2024 with H&T! It’s noteworthy that India’s share in global IPO income has reached an all-time high of 5.98%, doubling in the last two years. In Asia, IPO income share has increased from 5.9% in 2018 to 9.9% this year, as reported by Reuters.

While major listings like Mankind Pharma, Nexus Mall, and Tata Technologies collectively raised nearly .5 billion throughout India in the past year, the top five IPOs to look out for in 2024 are:

1. Swiggy: Supported by Softbank, Swiggy aims to launch its IPO in the early months of 2024, hoping to raise around 0 million. The goal is to reduce Softbank’s stake in the company through this IPO.
2. FirstCry: Pune-based startup and online childcare platform FirstCry is hopeful to launch its IPO in 2024, possibly after the results of the 2024 Lok Sabha elections.

Ola Electric: The electric vehicle startup plans to launch its IPO in January or February 2024. Ola Electric is looking to raise around 0 million from this fund to establish its first factory in Tamil Nadu.

3. Oyo IPO: According to Inc42’s report, Oyo has already submitted its draft documents for IPO, with an expected launch in mid-2024. The expected fundraising from Oyo’s IPO is around 0 million.
4. Portea Medical: After receiving SEBI approval for its IPO in early 2023, health care startup Portea Medical plans to launch its IPO in the first quarter of 2024, aiming to raise INR 1,000 crores.

These upcoming IPOs are anticipated to have a significant impact on the market in 2024 and add to the fascinating array of Indian businesses that are making their public offerings. A year full of interesting things is ahead, so stay tuned!”