In the second half of FY24, 28 IPOs totalling Rs 38,000 crore are expected to go public

The IPO pipeline seems solid after a record 31 first share sales in the first half of this fiscal year, with 28 businesses aiming to raise Rs 38,000 crore in the second half and another 41 awaiting Sebi’s approval to conduct initial public offers worth Rs 44,000 crore, according to a report.

According to Primedatabase, IPO fundraising decreased 26% to Rs 26,300 crore in the first half of the current fiscal year, despite the number of issues more than tripling to 31, from 14 issues with a total mop-up of Rs 35,456 crore in the same time last year.

According to Pranav Haldea, general director of Prime Database, a top database on the main capital markets, three new-age technology corporations are trying to scoop up a combined Rs 12,000 crore from these 69 businesses.

Market insiders claim that OYO and Go Digit Insurance are leading the race and want to scoop up around Rs 8,300 crore. As opposed to this, Yatra, which had funded Rs 775 crore in late September, only released one tech problem in the first half. Paytm, Zomato, and Nykaa had the most difficulties in the previous fiscal year.

Despite the current instability in the secondary market, according to Haldea, numerous IPOs are expected to be issued in the second half before a hiatus due to the general elections.

OYO, Tata Technologies, JNK India, Dom Industries, Apeejay Surrendra Park Hotels, Epack Durables, BLS E-Services, India Shelter Finance Corporation, Cello World, RK Swamy, Flair Writing Industries, Go Digit Insurance, and Credo Brands Marketing are just a few of the notable upcoming IPOs, according to the top brokerage Angel One.

The projected Tata Technologies offering would be the stable’s first initial public offering (IPO) in 19 years; the previous Bombay House business to do so was TCS in 2004.

High-end technological solutions are provided by Tata Technologies, an operational unit of Tata Motors. As part of the offer for sale, Tata Motors is anticipated to hive off approximately 811 lakh shares.

The IPO will consist only of an offer to sell.

Leading provider of ER&D services for the automobile industry is Tata Technologies. Twelve new energy players and 35 original equipment manufacturers are among its clients.

Originally, Oravel Stays or OYO Rooms intended to collect Rs 8,430 crore—Rs 7,000 crore in new issues and Rs 1,430 crore in offers for sales. However, it is anticipated to reduce the issue’s size and price.

In H1 of FY24, total public equity fundraising surged 69% to Rs 73,747 crore from Rs 43,694 crore in H1 of FY23, according to Haldea.

The Mankind Pharma OPO, worth Rs 4,326 crore, came in top place in the first half, ahead of JSW Infrastructure (Rs 2,800 crore) and RR Kabel (Rs 1,964 crore). The lowest IPO, however, raised only Rs 67 crore from Plaza Wires, while the average size was Rs 848 crore. Up to 21 of these 31 editions were published in August and September.