Top Upcoming IPO Of 2024

The excitement surrounding Initial Public Offerings (IPOs) adds another level of intrigue to the ever-changing financial markets. An upsurge in initial public offerings (IPOs) occurred in 2023, paving the way for what experts and analysts believe will be yet another historic year in 2024. This is a thorough look at some of the highly anticipated IPOs that are about to take the financial world by storm.

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Here is the list of Upcoming IPOs for 2024

1. Ola Electric

Overview

Destined to become an IPO that is eagerly awaited in 2024.
Aiming to raise between $700 million and $800 million.
Expected valuation ranges from $7 billion to $8 billion.
Submitted initial documentation for a new equity share offering (IPO) worth up to Rs 5,500 crore.
9.52 crore equity shares are being offered for sale (OFS) by investors and promoters.

2. FirstCry

Overview

An omnichannel retailer that had postponed last year is getting ready for an IPO.
Intends to raise between $500 and $600 million, with a $4 billion estimated valuation at IPO.
submitted initial documentation for a new equity share offering (IPO) worth up to Rs S,816 crore.
Shareholders’ OFS up to 5.44 crore equity shares.

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3. Awfis

Overview

Supplier of flexible work environments.
A fresh issue of up to ₹160 crore and an OFS of one crore equity shares are part of the IPO.

4. Unicommerce

Overview

Software as a Service (SaaS) provider for e-commerce.
Ready to start an IPO under CLSA’s supervision.

5. Aakash (Byju’s subsidiary)

Overview

Acquired in 2021 for $950 million by Byju’s.
Increased revenue of ₹4,000 crore and ₹900 crore in EBITDA are anticipated by FY 2023–2024.

6. PhonePe

Overview

Digital payments leader in India.
A focus on strong growth and strategic diversification with an IPO planned for 2024–2025.

7. Oyo

Overview

Debt repayment caused a delay in the initial IPO filing.
Significantly smaller public listing, with a $400–600 billion target.

8. PharmEasy

Overview

Tata-owned business is thinking about going public after a successful rights issue.
Excellent performance in Q1FY24, with positive EBITDA.

9. Swiggy

Overview

A significant participant in India’s food delivery market, valued at $10.7 billion.
Anticipated to make its public market debut in 2024.

10. PayU India

Overview

Financial services-focused subsidiary of Prosus.
Aiming for an IPO in the second half of 2024.

11. Mobikwik

Overview

Working together on an IPO with SBI Capital Markets and DAM Capital Advisors.
An ambitious target of 84 million dollars in fundraising.

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The State of IPOs: A Financial Perspective of Upcoming IPO

The IPO market is predicted to continue its strong performance from 2023 into 2024, as more than 65 IPO documents have been submitted to SEBI. Prominent contenders comprise Swiggy, Firstcry, Ola Electric, Oyo, and Portea Medical, which exemplify the varied industries fostering economic enthusiasm. According to analysts, IPO activity will continue to be active in 2024 due to the abundance of liquidity, expectations of GDP growth, and the ongoing bull run.

The financial markets are ready for another year of high activity as we eagerly await these IPOs, creating the conditions for future growth and investment opportunities. The information below gives a quick overview of the salient features of each planned IPO:

Company	Fund Raising Target	Valuation (Approx.)	Fresh Issue	OFS
Ola Electric	$700M – $800M	$7B – $8B	Rs 5,500 Cr	9.52 Cr Equity Shares
FirstCry	$500M – $600M	$4B (Estimated	Rs 1,816 Cr	5.44 Cr Equity Shares
Awfis	₹160 Cr	Not disclosed	₹160 Cr	1 Cr Equity Shares
Unicommerce	To be announced	Not disclosed	To be announced	To be announced
Aakash (Byju’s)	To be announced	Not disclosed	To be announced	To be announced
PhonePe	To be announced	Not disclosed	To be announced	To be announced
Oyo	$400M – $600M	Not disclosed	To be announced	To be announced
PharmEasy	To be announced	Not disclosed	To be announced	To be announced
Swiggy	To be announced	$10.7B	To be announced	To be announced
PayU India	To be announced	Not disclosed	To be announced	To be announced
Mobikwik	$84M	Not disclosed	To be announced	To be announced

Things To Take Into Account In 2024 If Investing in Upcoming IPO

Potential investors will need to adopt a strategic approach in 2024 to successfully navigate the Indian IPO landscape. A thorough examination of the company’s financial standing, future growth potential, and competitive landscape should be the first step in any due diligence process.

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These are the main things to think about when making an IPO investment.

Industry and Competitive Analysis

Gain insight into the possible success of the IPO by comprehending the industry dynamics and competitive landscape.
Examine the track record and industry experience of the management team to ensure that they have a strong sense of leadership.

Knowledge of the Market

To help with investing decisions, and keep up with market and overall economic trends.
Analyze the grey market premium (GMP) to gain an understanding of the expectations and sentiment of the market.

Evaluation of Subscription Metrics

To determine demand, look at IPO subscription metrics such as oversubscription levels and category-wise allocation.
For a complete picture, see the company’s financial statements, prospectus, and list of risk factors.

Investment Approach

Before taking part in an IPO, establish your financial objectives, risk tolerance, and investment horizon.
To reduce risk, spread your investments across a variety of industries by the diversification principle.

Remain Up to Date

Stay informed about modifications to regulations, changes in market sentiment, and advancements in the world economy.
Keep an eye out for changes in the IPO scene so that you can make well-informed decisions.

Conclusion

In conclusion, a wide range of businesses, including electric cars and digital payments, are preparing for public listings in 2024, making the IPO landscape exciting for investors. The financial markets are ready for another year of high activity as expectations rise; they present chances for expansion and add to the changing story of India’s dynamic economic environment.

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