Top Upcoming IPOs of 2024

In the dynamic landscape of financial markets, the anticipation surrounding Initial Public Offerings (IPOs) adds an extra layer of excitement. The year 2023 witnessed a resurgence in IPO activity, setting the stage for what analysts and experts predict will be another remarkable year in 2024. Here's a comprehensive look at some of the eagerly awaited upcoming IPOs that are expected to make waves in the financial world.

1. Ola Electric

Overview

Poised to become a highly anticipated IPO in 2024.
Targeting a fundraising range of $700 million to $800 million.
Valuation expected between $7 billion and $8 billion.
Financial Snapshot
Filed preliminary papers for an IPO with a fresh issue of equity shares up to Rs 5,500 crore.
Offer for sale (OFS) of 9.52 crore equity shares by promoters and investors.

2. FirstCry

Overview

Omnichannel retailer gearing up for an IPO after postponing in the previous year.
Aims to raise $500-600 million, with an estimated valuation of $4 billion at the time of IPO.
Financial Snapshot
Filed preliminary papers for an IPO with a fresh issue of equity shares up to Rs 1,816 crore.
OFS of up to 5.44 crore equity shares by shareholders.

3. Awfis

Overview

Provider of flexible workspace solutions.
IPO includes a fresh issue of up to ₹160 crore and an OFS of 1 crore equity shares.

4. Unicommerce

Overview

E-commerce Software as a Service (SaaS) company.
Set to embark on an IPO journey, overseen by CLSA.

5. Aakash (Byju’s subsidiary)

Overview

Acquired by Byju's in 2021 for $950 million.
Revenue surge with a forecast of ₹4,000 crore and ₹900 crore in EBITDA by FY 2023-24.

6. PhonePe

Overview

Digital payment frontrunner in India.
Strategic diversification and robust growth, aiming for an IPO in 2024-2025.

7. Oyo

Overview

Initial IPO filing delayed for debt repayment.
Substantially reduced size of public listing, aiming for $400-600 billion range.

8. PharmEasy

Overview

Tata-owned company contemplating IPO after a successful rights issue.
Strong performance, EBITDA positivity in Q1FY24.

9. Swiggy

Overview

Valued at $10.7 billion, a major player in India's food delivery market.
Expected to debut on the public market in 2024.

10. PayU India

Overview

Subsidiary of Prosus, specializing in financial services.
Anticipated IPO by the latter half of 2024.

11. Mobikwik

Overview

Collaborating with DAM Capital Advisors and SBI Capital Markets for an IPO.
Ambitious goal of raising approximately $84 million.

The IPO Landscape: A Financial Outlook

The IPO market's robust performance in 2023 is expected to extend into 2024, with more than 65 IPO documents filed with SEBI. Noteworthy candidates include Swiggy, Firstcry, Ola Electric, Oyo, and Portea Medical, reflecting the diverse sectors contributing to the financial excitement. Analysts predict that the abundance of liquidity, expectations of GDP growth, and the continued bull run will keep IPO activities vibrant in 2024.

As we eagerly await these IPOs, the financial markets are poised for another year of heightened activity, setting the stage for potential growth and opportunities for investors. The data below provides a snapshot of the key details for each anticipated IPO:

In conclusion, the IPO landscape for 2024 promises an exciting journey for investors, with a diverse range of companies from electric vehicles to digital payments gearing up for public listings. As anticipation builds, the financial markets are poised for another year of heightened activity, offering potential growth opportunities and contributing to the evolving narrative of India's dynamic economic landscape.