What's buzzing in the IPO market?

It seems like the IPO season is here again.

When a new vessel, ship or boat is built, it is launched into the sea during a high tide. The increased water levels makes the process easier.

Similarly, a good market current is required, for companies to enter the stock market. This helps them get good support from the investors.

You may have noticed that, either there are too many Initial Public Offerings (IPO) coming one after another or none at all. This is because no company wants their Initial Public Offering to be a failure.

The news is flooding with information about many new-age businesses looking to ascend in the Indian Stock Markets. There are companies planning for an IPO, some of whom are stuck in the regulatory framework for quite a few times. Then there are some companies who have received SEBI’s permission to raise funds from the public and soon their IPO details will be out. And there are companies all set for their stock market debut i.e., their offer is open for application and investors awaiting allotment.

So here’s what buzzing in the primary market:

• SEBI has granted approval to Awfis Space Solutions to raise funds via public issue. This Delhi-based company runs 136 co-working centers across India. Its IPO is both- NFO and OFS.

• Online travel platform Travel Boutique Online (TBO) Tek Ltd. also received a green flag from SEBI to go forward with its requested Fresh Issue of RS. 400crores and OFS of 1.56cr equity shares. 

• The promoter of Unicommerce- an e-commerce company providing tech-based warehouse solutions, is looking to offload its share from the company. The other investor shareholders, like SoftBank and B2 Capital Partners, will keep their shares. We may soon see its offer open in the primary market.

• ANI Technologies, the parent of Ola Electric, had filed papers with the SEBI in December 2023. In a recent announcement by the company's founder, OLA Cabs is also drafting its IPO papers. 

• In the SME category, Emmforce Autotech, Faalcon Concepts, Shivam Chemicals, and Varyaa Creations are in their public issue process. 

• The Indian food-tech giant Swiggy is also gearing up to become a publicly listed company soon.

• In December 2023, Brainbee Solutions that runs India’s largest retailing channel catering to mothers and children- FirstCry, put forth Draft Offer documents asking to raise Rs. 18,160 million via Fresh issue and offer 54,391,592 equity shares for sale in the primary market. 

• MobiKwik has been waiting for the right time and price since 2021 when it had plans to raise Rs. 1900 cr from the Indian markets. One Mobikiwk Systems Ltd. filed its fresh papers in January 2024, offering to raise Rs. 700 cr. This is a completely fresh issue.