Not only is the festival season brightening up as the last few months of 2024 draw near, but the initial public offering (IPO) market appears to have kept its brightest pyrotechnics for last.The stock market appears to have a lineup of upcoming IPOs that are expected to cause ripples on Dalal Street, much as how we excitedly await the start of the holiday season in the later half of the year.The upcoming IPOs of the year could be the most thrilling ones yet, with Swiggy making its much awaited debut and Hyundai Motors making a big offering.
Upcoming ipo of 2024
Here are the top upcoming ipo of 2024;
Hyundai
As the biggest IPO in Indian history approaches, Hyundai Motors India is getting ready.
The Securities and Exchange Board of India (Sebi) approved the business on Wednesday, and by October 2024, it hopes to begin its first public offering.Hyundai Motors India intends to use an offer-for-sale (OFS) to raise about $3 billion, or about Rs 25,000 crore.This implies that a portion of the shares will be sold to the public by the parent firm, Hyundai Motor firm.It is anticipated that the IPO will increase the business’s visibility in the Indian market and give stockholders access to liquidity.
Swiggy
One of the biggest meal delivery services in India, Swiggy, is about to go public on the stock market.The company’s IPO has been approved by Sebi, and rumors have it that it could go live as early as November 2024. With the help of a new offer valued at Rs 5,000 crore, Swiggy hopes to raise Rs 11,000 crore. Supported by well-known financiers such as SoftBank, Accel, and Prosus, Swiggy has a $9.3 billion market valuation as of August 2023.It is anticipated that both institutional and retail investors would pay close attention to Swiggy’s initial public offering (IPO) given the rising demand for food delivery services in India.
Ntpc green energy
According to media sources, the state-owned National Thermal Power Corporation (NTPC) subsidiary NTPC Green Energy is scheduled to initiate its initial public offering (IPO) for Rs 10,000 crore in early November 2024. The solar and wind energy project-focused renewable energy company submitted its draft red herring prospectus (DRHP) to Sebi in September. The proceeds of the IPO, which will comprise both new issues and an offer-for-sale, are anticipated to support NTPC Green Energy’s expansion aspirations in India’s rapidly expanding renewable energy market. Investors who are concerned about the environment may find this option appealing given the government’s push for cleaner energy.
Ather energy
The much awaited IPO of Ather Energy, a maker of electric two-wheelers, is also slated to occur before the year ends. In September 2024, Ather submitted its draft documents, aiming to raise Rs 3,100 crore via a new share offering.An offer-for-sale will also be a part of the IPO, enabling early investors like Tiger Global, GIC, and 3State Ventures to reduce their stakes.The recent and highly successful IPO of Ola Electric, Ather’s competitor, has raised anticipation for this sale.With its IPO, Ather may become even more of a major force in India’s expanding electric car industry.
HDB financial
According to media sources, HDB Financial Services, the non-banking financial arm of HDFC Bank, plans to go public in December 2024 or early 2025. The IPO will involve an offer by current owners to sell their shares as well as a new issue of shares valued at Rs 2,500 crore. It was recently approved by the board of HDFC Bank.HDB Financial Services is anticipated to be valued between $7 billion and $8 billion following the offering. 94.64% of the company is owned by HDFC Bank, and the IPO is viewed as a calculated move to maximize value for the bank’s investors.The sale will be managed by a combination of domestic companies like ICICI Securities, Axis Capital, and IIFL and foreign corporations like Morgan Stanley, Bank of America, and Nomura.
