After the successful IPO launches by LG and Tata Capital, India’s primary market remains active with several upcoming offerings in fintech, asset management, and consumer electronics sectors this November. Here’s a preview of the upcoming IPOs.
GROWW IPO:
The Bengaluru-based investment platform Groww is gearing up for its IPO valued at Rs 6,632.3 crore. The IPO comprises a fresh issue of Rs 1,060 crore and an offer for sale of Rs 5,572.3 crore. Subscription will open on November 4 and close on November 7, with listing scheduled for November 12 on both the BSE and NSE. The price range is set between Rs 95 and Rs 100 per share, with a minimum investment of Rs 15,000 for retail investors. The current grey market premium (GMP) is at Rs 17, indicating a potential listing gain of around 17%. With the support of Microsoft CEO Satya Nadella, Groww has attracted over 10 million users and emerged as one of India’s top investment platforms.
PINE LABS IPO:
Payment and commerce solutions provider Pine Labs is gearing up for a Rs 5,800-crore IPO in early November. With backing from investors like Peak XV Partners and Mastercard, the company caters to over 500,000 merchants nationwide. The public offering is expected to enhance its digital payment services and fortify its technological capabilities.
boAt IPO:
Popular lifestyle electronics brand boAt is set to launch a Rs 2,000-crore IPO by the end of November. Recognized for its range of headphones, smartwatches, and speakers, the company intends to utilize the funds to lower debt and expand its local manufacturing operations. Supported by Warburg Pincus and Qualcomm, boAt’s IPO has been eagerly anticipated since its initial filing in 2022.
ICICI PRUDENTIAL AMC:
ICICI Prudential Asset Management Company, the second-largest mutual fund firm in India, is eyeing a Rs 10,000-crore IPO. The offering will involve UK-based Prudential divesting approximately 10% of its stake. This IPO is poised to be one of the largest in the asset management sector, providing investors with exposure to India’s burgeoning mutual fund industry.
This flurry of IPO activity signifies a dynamic period for India’s primary market, with diverse sectors attracting investor interest and showcasing the country’s robust economic landscape.