Many companies have recently received permission from the Indian market watchdog SEBI to list their companies on bourses through IPO.
More than half a dozen companies, including Swiggy, Hyundai India, and NTPC Green Energy are queued up for initial public offerings in the next two months to raise about ₹60,000 crore from the investors.
South Korean auto leader Hyundai Motor Co’s Indian subsidiary, Hyundai Motor India Limited, is ready to launch an IPO of up to 142,194,700 equity shares at a face value of ten rupees each.
The company plans to raise $3 billion at a roughly $20 billion valuation, according to media reports. It would be the first in the last two decades that an automobile company would hit the bourse after the 2003 Maruti Suzuki IPO.
After the U.S. and South Korea, India is the third-biggest revenue market for the South Korean company. It has already invested $5 billion in the country, with another commitment of investing $4 billion over the next decade.
Another company that has successfully made its way to Dalal Street is Swiggy.
Online food aggregator Swiggy is coming up with its maiden offer worth ₹10,414 crore. It will consist of fresh shares worth Rs 3,750 crore and offer-for-sale components worth ₹6,664 crore.
Accel India IV (Mauritius), Apoletto Asia, Alpha Wave Ventures, Inspired Elite Investments, Tencent Cloud Europe, and MIH India Food Holdings are among some shareholders likely to participate in the OFS for Swiggy.
Swiggy will reinvest the received proceeds in technology and cloud infrastructure, brand marketing, and business promotion expenses for increasing the brand presence and awareness across segments, and for funding inorganic growth via unidentified acquisitions.
The company also intends to put the proceeds received from a fresh share sale in its material subsidiary, Scootsy, for repayment or prepayment, in full or in part, of certain or of its debts, also in the expansion of the Dark Store network for the quick commerce business through establishing Dark Stores and making lease/license payments for Dark Stores.
Besides, Swiggy and Hyundai India, the renewable energy branch of state-owned NTPC, is planning its ₹10,000 crore worth IPO in the first week of November.