The TOP 10 Highly Awaited IPOs of 2024

The Indian stock market is abuzz with anticipation as 2024 unfolds, with a lineup of highly awaited Initial Public Offerings (IPOs) poised to make their debut. Investors are keenly eyeing these IPOs, looking for potential opportunities to capitalize on the growth stories of these companies. In this article, we will delve into some of the most popular upcoming IPOs in the Indian stock market and explore what makes them stand out.

1. Ola Electric :  the Electric two-wheeler company, has filed its preliminary papers with Sebi for its proposed initial public offering (IPO). As per the draft red herring prospectus (DRHP), the upcoming IPO will be a fresh issue of equity shares up to Rs 5,500 crore and an offer for sale (OFS) of 9.52 crore equity shares by promoters and investors.

2. OYO : Hospitality Firm OYO, which was expected to launch its initial public offering (IPO) last year, may do so in 2024. OYO had filed preliminary documents with the Sebi on September 2021 for a Rs 8,430-crore IPO, including a fresh issue of equity shares aggregating up to Rs 7,000 crore and an offer for sale of Rs 1,430 crore.

3. Aakash :(Byju’s subsidiary) : A test preparatory arm of Edtech major BYJU’S is expected to file its IPO by the middle of this year. BYJU’S had in June last year said that the appointment of the merchant bankers for the IPO will be announced soon to ensure a planned and successful listing.4. Swiggy : A lot of buzz is gathering around Swiggy’s upcoming IPO this year. Though the market was speculating the company’s IPO last year itself, with the recent appointment of ex-Diageo CEO Anand Kripalu as the chairman of board, the IPO anticipation has further gained
momentum.5. PhonePe: There has been a lot of buzz in the media regarding Digital payments platform PhonePe’s initial public offering (IPO) this year. Meanwhile, company’s CEO Sameer Nigam had in an interview to PTI had said the company is aiming for an IPO in 2024-2025.

6. FirstCry: FirstCry parent firm Brainbees Solutions Ltd has filed its preliminary papers with capital markets regulator Sebi for its proposed initial public offering (IPO). As per the draft red herring prospectus (DRHP), the upcoming IPO will be a fresh issue of equity shares up to Rs 1,816 crore and an Offer For Sale (OFS) of up to 5.44 crore equity shares by shareholders.

7. MobiKwik : As one of India’s prominent mobile wallet and buy now, pay later service providers, it is said to be collaborating with DAM Capital Advisors and SBI Capital Markets to facilitate its IPO, with an ambitious goal of raising approximately $84 million. It had postponed its IPO last year, with speculations around that the company will launch its IPO this year.

8. PharmEasy : PharmEasy is contemplating a potential public offering, buoyed by its strong performance. The Tata-owned company recently garnered more than ₹3,950 crore through a successful rights issue. PharmEasy has achieved EBITDA positivity in Q1FY24, maintaining a positive trajectory.

9. Unicommerce : Unicommerce, the e-commerce Software as a Service (SaaS) company, is set to embark on the path of an IPO. The startup anticipates making its stock market debut in the latter part of the upcoming year.

10. Awfis : Awfis Space Solutions Ltd, which is a provider of flexible workspace solutions, has submitted preliminary documents to the Securities and Exchange Board of India (Sebi) to raise capital through an Initial Public Offering (IPO). As outlined in the Draft Red Herring Prospectus (DRHP) filed with Sebi on Friday, the planned IPO includes a fresh issue of up to ₹160 crore and an Offer for Sale (OFS) of 1
crore equity shares.

These IPOs represent a diverse range of sectors, from retail and electric vehicles to insurtech and digital payments, showcasing the dynamic nature of India’s economic landscape. As investors eagerly await these IPO but potential investors should conduct thorough research and consider their risk tolerance before participating in any IPO.

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