The most awaited IPOs from India

• India could see a whirlwind of new initial public offerings (IPO), this year.
• At the moment, 17 companies have filed their prospectus with the market regulator Securities Exchange Board of India (SEBI).
• In total, these companies intend to raise over ₹40,000 crore.
• Last year, 14 companies got listed on the stock exchange, raising over ₹25,000 crore.

2021 could be an even better year than 2020 for companies looking to go public. While some companies have already listed on the stock exchange, there are over a dozen more who are in the process of rolling out their initial public offerings (IPO).

2020 proved to be a good year for companies trying to raise funds through IPOs. Over a dozen companies debuted on the stock exchange and raised over ₹25,000 crore in the process.

And less than halfway through 2021, there are a total of 16 companies who have filed their draft red herring prospectus (DRHP), which is a document that outlines the business of the company, its financial position, the reasons for which the company is raising money and how it will use it.

In the first five months of 2021, 18 companies got listed on the stock exchange. This list includes some big names like Nazara Technologies, Indigo Paints, RailTel, Easy Trip Planners, among others.

Additionally, other companies like Life Insurance Corporation of India, Bajaj Energy and others are expected to go public this year. However, they are yet to file the prospectus with SEBI. LIC, in particular, could launch a huge IPO of ₹70,000 crore, according to some media reports.

Here is a list of the upcoming IPOs in 2021. Note that the IPO dates are not known yet, but the companies have either been given approval by the Securities Exchange Board of India, or have filed their prospectus with the regulator.

Zomato IPO

Zomato could be one of the IPOs to watch out for in 2021. Known for its food delivery business, Zomato is based in Gurugram and was co-founded by Deepinder Goyal. It counts Info Edge, Uber, Alipay Singapore and Antfin Singapore amongst its investors.

The company plans to raise ₹7,500 crore via a fresh issue and ₹750 crore via an offer for sale (OFS) by its existing investor Info Edge. It intends to use ₹5,625 crore towards funding the organic and inorganic growth over the next 5 years — organic growth refers to customer acquisition, and strengthening technology and delivery infrastructure, while inorganic growth refers to acquisitions and partnerships.

Sona Comstar IPO

Sona BLW Precision Holdings (Sona Comstar) is a Gurugram-based company that designs and manufactures highly engineered components.

It will issue fresh shares worth ₹300 crore and the rest ₹5,700 crore will be via an offer for sale by an existing shareholder, Singapore VII Topco III Pte Ltd. The company intends to issue part of the proceeds towards payment of certain borrowings.

Nuvoco Vistas IPO

Nuvoco Vistas is a Mumbai-based cement manufacturer, backed by the Nirma group. It is the fifth largest cement maker in the country.

The company plans to raise ₹1,500 crore via a fresh issue and ₹3,500 crore via offer for sale, wherein its promoter Niyogi Enterprises will offload its stake. It intends to use the proceeds towards repaying its debt, apart from other general-purpose requirements.

Aptus Value Housing IPO

Aptus Value Housing is a Chennai-based housing finance company, backed by Sequoia Capital and WestBridge Capital.

The company plans to raise ₹500 crore via a fresh issue and the remaining ₹2,500 crore via OFS. It will use the proceeds towards boosting its capital base.

Go Airlines IPO

The Wadia-group owned Mumbai-based low-cost carrier has finally filed its prospectus after abandoning it several times before.

It will issue ₹3,600 worth shares via a fresh issue. It intends to use parts of the proceeds towards repayment of borrowings, leaving a little over ₹1,000 crore for expansion and corporate needs.

Chemplast IPO

The Chennai-based company is one of the leading specialty chemicals manufacturers, focusing on PVC resin and intermediates for pharmaceutical, agro-chemical and fine chemical sectors.

It will issue fresh equity shares worth ₹1,500 crore and the rest ₹2,000 crore will be raised via offer for sale. The company intends to use up to ₹1,238 crore towards redeeming non-convertible debentures, and other general corporate purposes.

CarTrade IPO

CarTrade, an online auto classifieds platform, almost became a unicorn — a private company with more than $1 billion valuation — during its fundraising in 2020. When listed, it will be the first online auto classifieds portal to be publicly traded.

The company plans to raise ₹2,000 crore purely via an OFS. This will allow some of its existing investors like Warburg Pincus, JP Morgan, Temasek and others to make a partial exit.

Penna Cement IPO

Penna Cement is a known name in south India’s cement industry. It was established in 1991 and sells a range of cement types.

The company plans to raise ₹1,300 crore via a fresh issue and ₹250 crore via offer for sale. It intends to use the proceeds for repayment of certain borrowings, meeting capital expenditure requirements and upgrading its manufacturing facilities.

Devyani International IPO

Devyani International operates popular food and café outlets KFC, Pizza Hut and Costa Coffee. When listed, it will join the likes of Jubilant FoodWorks and Burger King India, among others.

The company plans to raise ₹400 crore via a fresh issue and ₹1,000 crore via offer for sale. It intends to use parts of the proceeds towards repayment of certain borrowings, and for general corporate needs.

Fincare Small Finance Bank IPO

Fincare Small Finance Bank, which targets the rural and semi-urban areas could join a growing list of small finance banks getting listed on the stock exchange.

The company intends to raise ₹330 crore via a fresh issue and ₹1,000 crore via offer for sale. It has outlined that it will use proceeds from the fresh issue towards boosting its tier 1 capital base to meet future capital requirements.

Krsnaa Diagnostics IPO

Krsnaa Diagnostics is a Pune-based company with over 1,800 branches across 13 states. When listed, it will join other diagnostic firms Dr. Lal Pathlabs and Metropolis Healthcare.

The company plans to raise ₹400 crore via a fresh issue and ₹800 crore via offer for sale. It intends to use proceeds of the issue towards expanding its branches in Punjab, Karnataka, Haryana and Maharashtra, apart from repaying certain borrowings.

Supriya Lifescience IPO

Supriya Lifescience is a Mumbai-based drug maker, engaged in manufacturing of active pharmaceutical ingredients (API), with a focus on research and development.

The company plans to raise ₹200 crore via a fresh issue and ₹1,000 crore via offer for sale. It intends to use proceeds of the issue towards capital expenditure requirements.

Shyam Metalics IPO

Kolkata-based Shyam Metalics is one of the largest makers of ferro alloys and sponge iron. Its clientele includes Jindal Stainless, Rimjhim Ispat, Posco International, among others.

The company plans to raise ₹657 crore via a fresh issue and ₹450 crore via offer for sale. It intends to use the proceeds towards repayment of borrowings and also for general corporate purposes.

MediBuddy IPO

Medi Assist is a Bengaluru-based health-tech and insurance-tech company that administers health benefits across employers and retail customers.

The company plans to raise ₹850 crore completely via OFS that will offer an exit option to existing shareholders.

India Pesticides IPO

India Pesticides is an Uttar Pradesh-based company that manufactures agro-chemicals and has a growing formulation business.

The company plans to raise ₹100 crore via a fresh issue and ₹700 crore via offer for sale. It intends to use proceeds of the issue towards meeting its working capital requirements.

Krishna Institute of Medical Sciences IPO

Krishna Institute of Medical Sciences has a network of hospitals across Telangana and Andhra Pradesh with an aggregate bed capacity of a little over 3,000.

The company plans to raise ₹200 crore via a fresh issue and approximately ₹500 crore via offer for sale. It intends to use the proceeds of the issue towards repaying its debts.

Windlas Biotech IPO

Windlas Biotech is engaged in domestic pharmaceutical formulations contract development and manufacturing.

The company plans to raise ₹165 crore via a fresh issue and an undisclosed amount via offer for sale. It intends to use proceeds of the issue towards capacity expansion in its plants in Dehradun.

About the Author

Mr. Koch — a serial entrepreneur and late-stage investor specializing in secondary shares.

Previously: Twilio, Xiaomi, iQiyi, PinDuoDuo, Tilray, Livongo, Agora, Bandwidth, Hims.

Currently: Robinhood, Enflame, Grab, Toss, Coursera, Oatly, Epic Games, Chime, and other companies.

Contact — here, If you are a startup building in this space — email or DM me to be included on this article.

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