Despite geopolitical tensions, inflationary worries, interest rate hikes and fears of recession, India witnessed over 30 Initial Public Offerings in 2022.
From LIC to Adani Wilmar, the year has been great in terms of investors returns as majority of the issue has delivered positive returns on listing and are in the green since then.
But as we are about to step into the new year, Editorji brings you a list of IPOs, which could hit the markets in 2023.
Oravel Stays (OYO)
The most anticipated and awaited IPO of 2023 is Oravel Stays, popularly known as OYO.
New-age technology platform focussing on short-stay accommodation, has the largest footprint of over 157,000 hotel storefronts in India and overseas. It offers over 40 products and services to its partners and customers across 35 countries.
The company filed its draft red herring prospectus (DRHP) in October 2021 and had planned to launch its IPO in 2022. However, due to volatile market conditions and bearish market sentiment, OYO postponed its IPO, worrying that its valuation might be affected.
According to the prospects, OYO in 2023 plans to raise ₹84.3 billion out of which ₹70 billion will be from fresh issues and the remaining ₹14.3 billion through stake sale by existing investors.
Next on our list is leading consumer lifestyle platform focused on authentic craft-based and organic products, Fabindia.
According to reports, FabIndia plans to raise up to ₹4,000 crore through an initial public offer and in a novel approach, the company's promoters also plan to gift more than 7 lakh shares to artisans and farmers.
The 62-year-old FabIndia operates more than 300 stores and offers a diverse portfolio of lifestyle products across apparel and accessories, home and lifestyle, personal care and organic food categories.
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An online food ordering and delivery platform, Swiggy is next on our list. Established in 2014 in Bangalore, Swiggy currently serves over 500 cities in India.
Apart from food delivery, Swiggy delivers groceries and packages through Swiggy Instamart and Genie.
Currently, the company has partnerships with more than 150 thousand restaurants and has a strong fleet of over 260 thousand delivery executives delivering food to its users.
Swiggy plans to raise around US$1 bn ( ₹81.31 bn) through IPO in 2023. It was already gearing up for an IPO and hired JP Morgan and ICICI Securities to run its books.
4. Go First
Fourth on our list is the Wadia Group's Go First (formerly Go Air), an ultra-low-cost carrier in India.
Founded in 2005, Go First carried over 80 m passengers across 39 destinations, including ten international destinations and comprises 57 aircraft.
It is one of the fastest-growing airline companies, with a market share of 10.8% in 2020. The company filed its DRHP in May 2021 and planned to launch its IPO in early 2022. However, the company delayed the IPO because of weak consumer sentiment around aviation stocks.
Going forward, Go First aims to launch its IPO in 2023. The company plans to use the funds to repay its debt and other obligations.
5. Hosana Consumer
Last on our list is a natural beauty and personal care company, Hosana Consumer, popularly known as Mamaearth.
Founded in 2016 as a baby care brand, Mamaearth is now a beauty and skincare brand which operates in India, South East Asia, and the Middle East. The company operates as an omnichannel brand and sells its products online and offline.
So far, Mamaearth has raised a total of US$111.6 mn ( ₹9.07 bn) in funding over eight rounds from investors such as Sequoia India, Stellaris Ventures, and Fireside Ventures.
The company announced its plans to raise US$300 m ( ₹24.39 bn) through IPO in 2023 and will soon draft its prospectus. It plans to use the funds to set up offline stores across the country.