Introduction
As we enter the second quarter of 2024, investors are keeping a close eye on the upcoming IPO in the market. After a prolonged slump, the IPO market is showing signs of life, with several highly anticipated offerings expected to roll out in this year. In fact, there have already been 48 IPOs in the first three months of the year, up 4.8% compared to the same period last year. In this article, we’ll take a closer look at five of the most exciting upcoming IPOs of 2024.
Vodafone Idea
Vodafone Idea has announced its upcoming IPO with a follow-on public offer (FPO) of equity shares worth ₹ 18,000 crore. The FPO will open for subscription on April 18, 2024, with a floor price of ₹ 10 per share and a cap price of ₹ 11 per share. Anchor bids will be approved on April 16. The offer will close on April 22. The company has enlisted Jefferies, SBI Caps, and Axis Capital as lead managers for the FPO. Investors can bid for a minimum bid lot of 1,298 equity shares, with the minimum application amount being ₹ 14,278 for one lot of shares in the FPO.
About Company- Vodafone Idea is the third largest telecommunications service provider in India based on subscriber base and the sixth largest cellular operator globally in terms of number of subscribers in a single country of operations. They offer voice, data, enterprise, and other value-added services across 2G, 3G, and 4G technologies and carry inter-service area voice traffic and incoming and outgoing international voice traffic on their network.
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Tata Play
The company received approval from the SEBI board in May 2023 and was planning to launch the IPO last year. However, the public offer got delayed and the management is now targeting a stock market upcoming IPO listing this year. The IPO dates are yet to be announced.
Tata Play IPO is aiming to mobilize around INR 2,000-2,500 crore by way of a sale of shares by existing investors including Singapore’s Temasek Holdings, Tata Opportunities Fund, and Walt Disney. These investors collectively hold 37.8% equity stake in Tata Play.
About Company- Tata Play Limited, a joint venture between Tata Sons Private Limited and TFCF Corporation, is a leading content distribution platform in India. The company was incorporated in 2001 and initiated services in 2006, offering Pay TV and OTT services.
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Ola Electric
Ola electric vehicle company aims to increase the good amount of Rs 7,250 crore by IPO and build more growth and confidence for EV market. The dual issue structure of the IPO consists of the issuance of offers for sale and new shares. The upcoming IPO shares are taken to increase Rs 5,500 crore whereas OFS will involve the shares sales that are worth Rs 1,750 crores.
About Company-Ola Electric Mobility Pvt. Ltd. is a company that focuses on the design, development, and manufacturing of electric vehicles. The company was established in 2017 and is based in Bangalore, India. Ola Electric is a subsidiary of ANI Technologies Pvt. Ltd., which operates the popular ride-hailing platform Ola.
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Bajaj Energy
Since the company has only filed its Draft Red Herring Prospectus with the SEBI till date, there hasn’t been any information regarding the opening and closing dates of the upcoming IPO. The total issue size of Bajaj Energy Limited’s IPO is slated to be around Rs. 5,450 crores. This issue includes both an Offer for Sale (OFS) from the company’s promoters as well as fresh issue of shares. The size of the OFS component of the issue comes up to about Rs. 300 crores, whereas the remaining Rs. 5,150 crores would be generated out of fresh issue of shares.
About Company- Incorporated in the year 2008, Bajaj Energy Limited has its headquarters in the city of Mumbai. The company is into generation of electricity through thermal power plants spread across multiple locations in Uttar Pradesh. In fact, Bajaj Energy Limited is one of the largest private sector thermal power generation companies in the state of Uttar Pradesh.
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OYO
According to the DRHP filed by OYO Hotels and Homes with SEBI, the upcoming IPO issue is likely to be worth Rs. 8,430 crores. This will include an offer for sale of about Rs. 1,430 crores and a fresh issue equity share sale of Rs. 7,000 crores. Other details of this public issue, such as price band, market lot, and likes, have not been made public yet.
About Company- OYO is a hospitality company that offers budget-friendly accommodations. It was founded in 2013 and is headquartered in Gurgaon, India. The company operates in over 800 cities across 80 countries, providing a network of over 43,000 hotels and homes. OYO’s mission is to provide quality living spaces for everyone, everywhere. The company has received funding from various investors, including SoftBank, Airbnb, and Sequoia India.
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Conclusion
In conclusion, keeping an eye on these five upcoming IPOs in India for 2024 could be a smart move. Each of these companies has the potential to make waves in the market and offer exciting investment opportunities. By staying informed and doing your research, you can position yourself to capitalize on these promising offerings and potentially reap the rewards in the future.
Also read our previous article: आईपीओ(IPO) क्या होता है? 5 पॉइंट्स में समझें
How many IPOs in 2024?
Based on the information provided, the number of IPOs in India for the year 2024 is not explicitly stated. The financial year 2024 (FY24) was a great year for initial public offerings (IPOs) with 75 issues launched in the year, the highest in 2 years. It is recommended to keep an eye on the latest updates and news regarding IPOs in India for the most accurate information.
Will IPOs pick up in 2024?
Yes, IPO activity in India is expected to continue at a strong pace in 2024. The improving outlook for global IPO markets and the stabilization of interest rates are also expected to support IPO activity in India. We anticipate a continued uptick in IPO activity during the second and third quarters of 2024 as IPO hopefuls plan to list ahead of the election cycle.
Should I invest in the upcoming IPO?
Investing in an upcoming IPO can be a good investment opportunity, but it’s important to carefully evaluate the company’s fundamentals and consider your own investment goals and risk tolerance before making an investment decision.
In the case of the LIC IPO, it is expected to be the biggest IPO in Indian stock market history, with the government planning to raise Rs. 65,000 Cr at a valuation of Rs. 13,00,000 Cr. LIC is set to become the 3rd largest company by market cap after this IPO. However, it’s important to conduct thorough research and due diligence before investing in this IPO.