When a company’s shares are made available for public purchase for the first time, it is known as an Initial Public Offering or IPO. Companies usually float their IPOs to raise funds from public investors and use them for diverse business needs. For investors, an IPO offers an opportunity to buy the shares of growing companies at a relatively lower price. Stay updated on the latest Upcoming IPO 2023!
The IPO market in India remained steady during the first quarter of 2023, with four IPOs hitting the stock exchanges. It’s expected to gain more momentum in the second half of the year, with several promising companies slated to launch their IPOs in the upcoming months.
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Popularly known as Oyo, Oravel Stays is a new-age technology platform focused on providing short-duration accommodations. The company was incorporated in 2012 to address the pain points arising due to gaps between demand and supply in the hospitality industry. Currently, it has a footprint of more than 1,57,000 hotel storefronts across 35 countries.
The company filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to launch an IPO in October 2021. As per the estimates, it plans to raise around Rs. 7,000 crores from a fresh issue and Rs. 1,430 from an offer for sale by existing shareholders. Oyo is expected to be one of the biggest IPOs in 2023.
Mobikwik is one of the biggest Fintech companies in India, offering services such as mobile wallets and Buy Now Pay Later (BNPL). As the volume of online transactions has increased rapidly in India post-demonetization and the COVID-19 pandemic, the company is poised for excellent growth in the future. Although it had earlier planned to launch its IPO in October 2021, the decision was postponed after the underwhelming listing of PayTM.
Through its IPO, the company plans to raise Rs. 1,500 crores from a fresh issue and Rs. 400 crores from an offer for sale.
Tata Technologies is one of the leading global engineering services companies. Its services include turnkey solutions, original equipment manufacturing, and digital solutions. Besides the automobile industry, the company also has clients in adjacent industries, including aerospace, transportation, and heavy construction machinery. Tata Motors Limited holds a 74.69% stake in this company and plans to offload around 9.571 crores shares with a face value of Rs 2 each share.
Tata Technologies filed its DRHP in March 2023, and although its listing dates are yet to be announced, it can be anywhere between June to October 2023.
Aadhar Housing Finance is the largest affordable housing finance company in India. As per Credit Rating Information, Services of India Limited (CRISIL), its Assets Under Management (AUM) size is almost 1.5 times more than the second largest peer set company. The company provides small-ticket home loans to economically weaker and low-to-mid-income group citizens of India.
Through its IPO, the company plans to raise around Rs. 7,300 crores, making it one of the biggest upcoming IPOs in June. The opening and closing dates of the IPO are yet to be disclosed by the company.
Popularly known as Ixigo, Le Travenues Technology is a tech-based company focused on assisting customers with air, rail, bus, and hotel bookings. It allows travelers to compare rates from various platforms using Artificial Intelligence (AI) and make smart bookings. The company had 37.48 million users in March 2021, and its operations have grown at a Compound Annual Growth Rate (CAGR) of 83.26% between 2019 and 2021.
As per the DRHP filed by the company, it plans to raise Rs. 1,600 crores from its IPO, which consist of a fresh issue worth Rs. 750 crores and an offer for sale of Rs. 850 crores.
These are some of the most awaited upcoming IPOs in June 2023 in India. Although the final dates of their issuance are yet to be announced, they are expected to hit the markets soon. Some of them have already created a buzz around investors, while some can turn out to be dark horses. One should analyze the company’s past performance and financials carefully before subscribing to its IPO. Motilal Oswal offers free Demat accounts and advisory services that can be of great help while investing in an IPO.