One97, PB Fintech Sapphire Foods India, SJS Enterprise, Sigachi Industries IPO Rush
New Delhi. After a gap of about a month, the brilliance of the primary market has returned again. Initial public offerings (IPOs) of five companies, including Paytm's parent company One97 Communications and PolicyBazaar's parent company PB Fintech, are coming up in the first fortnight of November. These IPOs are expected to raise over Rs 27,000 crore. The three other companies that are going to IPO during this period are Sapphire Foods India, SJS Enterprise and Sigachi Industries, which operates KFC and Pizza Hut.
Currently, the IPOs of FSN E-Commerce Ventures Ltd., which operates Nykaa, an online marketplace for beauty and wellness products, and Fino Payments Bank are open.
The IPO of Nykaa will close on November 1 and the IPO of Fino Payments Bank on November 2. Nykaa expects to raise Rs 5,352 crore from the IPO and Rs 1,200 crore for Fino Payments Bank. Overall, the IPO of these seven companies is expected to raise Rs 33,500 crore. Prior to this, Aditya Birla AMC's IPO of Rs 2,778 crore came on 29 September.
Prateek Singh, Founder and Chief Executive Officer (CEO), LearnApp.com, said, “Companies that IPO in the bull market expect better premiums and valuations on their business.” Companies are getting better premiums. So far this year in 2021, 41 companies have raised Rs 66,915 crore from IPOs.
Apart from these, POWERGRID InvIT, sponsored by POWERGRID Corporation, has raised Rs 7,735 crore from IPO and Brookfield India Real Estate Trust has raised Rs 3,800 crore from IPO.
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