AUGAF
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • CommoditiesNew
  • Contact
No Result
View All Result
PSX
Currencies
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • CommoditiesNew
  • Contact
No Result
View All Result
AUGAF
No Result
View All Result
Home Business

Companies Raised $8.8 Billion So far through IPO In India: Bloomberg

admin-augaf by admin-augaf
August 19, 2021
in Business
Reading Time: 4 mins read
0
Oyo plans to file IPO paperwork while PhonePe may return to incorporate in India to tap hot market

Oyo plans to file IPO paperwork while PhonePe may return to incorporate in India to tap hot market

Share on FacebookShare on TwitterWhatsapp

Bloomberg August 19 2021: The market for initial public offerings in India is turning into a feeding frenzy.

The amount of money raised in IPOs this year has reached $8.8 billion, already surpassing the totals of the past three years though it’s only August. At the current pace, 2021 would exceed the all-time record of $11.8 billion. Founders, bankers, lawyers and advisers are racing to cash in on fervent demand for fresh public offerings.


A L S O || R E A D

Airlift Valuation Exceeds That Of PTCL and Netsol


The catalyst, in a word, is Zomato Ltd. The food-delivery startup went public in July and, despite deep losses and mediocre prospects for profitability, shares have soared more than 70 percent. That has fueled the idea that similarly profit-challenged startups could find a strong reception from investors.

Oyo Hotels & Homes Pvt, a long-troubled lodging giant, started work last week on its draft prospectus and aims to file in October, according to people familiar with the matter. The ride-hailing leader Ola and fintech startup Pine Labs Pvt have also begun talks with investment bankers, according to other people aware of the situation.

“India is definitely the star of the show – that is the new phenomenon,” said Udhay Furtado, co-head of Asia equity capital markets at Citigroup Inc., the lead foreign bank in Asia IPO league tables so far this year. “Zomato really opened people’s eyes to India and now we have all these privately funded unicorns coming to the public market.”

The performance of recent IPOs, such as Zomato, has fed the enthusiasm. Newly listed Indian stocks are beating the benchmark Nifty 50 Index by more than 40 percentage points this year, the biggest gap in seven years.  

The country’s three most valuable startups are all considering or planning IPOs. Paytm, the country’s leader in digital payments, filed its preliminary offering documents, aiming to raise as much as 166 billion rupees ($2.2 billion). If it reaches that level, the IPO would be the country’s largest debut ever, eclipsing the more than 150 billion rupees raised by state-owned Coal India Ltd.

Flipkart, the Indian e-commerce giant controlled by Walmart Inc., is aiming for an IPO as soon as the fourth quarter, Bloomberg News has reported. Byju’s, a digital education startup valued at $16.5 billion, is in early discussions about an IPO and bankers are encouraging the company to take advantage of the red-hot market, according to people familiar with the matter. Byju’s is in the midst of absorbing several substantial acquisitions and is likely to hold off on any listing for at least a year.

Such is the hysteria that PhonePe, a payments startup Walmart acquired as part of its Flipkart deal, is considering shifting its incorporation back to India from Singapore to capture local investor attention, according to two people familiar with the matter who did not want to be identified. The regulatory upheaval in China has also sent investors looking for promising opportunities in countries with more predictable government policies.


A L S O || R E A D

Air Link IPO - plans to raise Rs5.85bn in PSX led by JS Global


“If global investors have to pick an emerging market, the balance is tilting in India’s favor after the regulatory action in the China internet ecosystem,” said Pankaj Naik, executive director and co-head, digital & technology at consultancy, Avendus Capital Pvt. “India may not be as attractive as China in the broader economic sense but it’s looking like a safer bet."

India’s success with startups has long lagged beyond that of the U.S. or China. But this year has been something of a breakout. With the Covid-19 pandemic, many consumers have turned to online services for grocery deliveries and other e-commerce, along with math tutoring and medical diagnoses. Revenue has surged.

admin-augaf

admin-augaf

Related Posts

Saudi National Bank Appoints New Chairman After Credit Suisse Loss
Business

Saudi National Bank Appoints New Chairman After Credit Suisse Loss

March 27, 2023
DG
Business

DG Khan Cement Successfully Commissioned 6.9MW Solar Power Plant

March 27, 2023
FFBL
Business

Pakistan Only DAP Manufacturer Resume Regular DAP Production

March 27, 2023

Recent News

Saudi National Bank Appoints New Chairman After Credit Suisse Loss

Saudi National Bank Appoints New Chairman After Credit Suisse Loss

March 27, 2023
DG

DG Khan Cement Successfully Commissioned 6.9MW Solar Power Plant

March 27, 2023
FFBL

Pakistan Only DAP Manufacturer Resume Regular DAP Production

March 27, 2023
TELE

Telecard Subsidiary Announces Phase 3 Completion Of Multi Million Dollar Long Term Program

March 27, 2023
UNITY

Unity Foods To Invest 5 Billion Rupees In Sunrdige

March 27, 2023

Popular News

  • Central Directorate of National Savings

    President Prohibit National Savings For Changing Rates on Existing Certificates Retrospectively

    0 shares
    Share 0 Tweet 0
  • Pakistan Rupee Appreciate against Dollar in Interbank as IMF Confirmed Board Review Date

    0 shares
    Share 0 Tweet 0
  • Pakistan Rupee Fall After 13 Days of Successive Gains against Dollar on Lower Remittances and Strengthening of US Dollar

    0 shares
    Share 0 Tweet 0
  • Pakistan Central Bank Issued Show Cause Notice to Eight Banks Over Currency Speculation

    0 shares
    Share 0 Tweet 0
  • Pakistan Rupee Fall for the Straight Second Day Against Dollar on Opening of LCs

    0 shares
    Share 0 Tweet 0

Categories

  • Budget
  • Business
  • Culture
  • Finance
  • International
  • National
  • News
  • Politics
  • PTI
  • Sports
  • Technology
AUGAF Logo

Follow us on social media:

Recent News

  • Saudi National Bank Appoints New Chairman After Credit Suisse Loss
  • DG Khan Cement Successfully Commissioned 6.9MW Solar Power Plant
  • Pakistan Only DAP Manufacturer Resume Regular DAP Production

Category

  • Budget
  • Business
  • Culture
  • Finance
  • International
  • National
  • News
  • Politics
  • PTI
  • Sports
  • Technology

Recent News

Saudi National Bank Appoints New Chairman After Credit Suisse Loss

Saudi National Bank Appoints New Chairman After Credit Suisse Loss

March 27, 2023
DG

DG Khan Cement Successfully Commissioned 6.9MW Solar Power Plant

March 27, 2023
  • Home
  • Politics
  • News
  • Business
  • National
  • Finance
  • Technology
  • International

© 2021 AUGAF.

No Result
View All Result
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • Commodities
  • Contact

© 2021 AUGAF.