From India¡¯s biggest IPO yet, LIC, to Delhivery and Adani Wilmar, 2022 has witnessed many IPOs this year. Some have been performing decently while some have disappointed the investors, especially the mega LIC IPO which had not only listed at an over 8% discount but has also already been hitting all-time lows multiple times recently. Even some other much-anticipated ones like Zomato and Paytm¡¯s performances post their IPOs have been disappointing.??
But these ups and downs from previous IPOs do not mean the end of the road as there are many exciting IPOs lined up in 2022 and 2023.?So, if you are looking forward to investing in IPOs, here¡¯s a list of some companies which are gearing up to go public and get listed within the next year or so.?
Also Read:?Decoded: 20 Must-Know Terms Before Investing In Any Company's IPO
The most recent one to announce plans for IPO is Mamaearth. The Indian skincare startup and unicorn is expected to roll out a $3 billion IPO next year, as per a?Reuters report yesterday.
Sequoia Capital-backed Indian skincare startup Mamaearth is in talks to raise at least $300 million in a planned IPO next year and is seeking a valuation of around $3 billion, three people with direct knowledge of the company's plans told Reuters.
The company was last valued at $1.2 billion in January this year when it raised fresh funds from investors including Sequoia and Belgium's Sofina.
Mamaearth is targetting a valuation of around $3 billion, a person briefed on the discussions reportedly said, according to Reuters. It plans to file draft regulatory papers by the end of this year, said sources, who declined to be named as the plan is private.
The company is reportedly in talks with JP Morgan Chase, India's JM Financial and Kotak Mahindra Capital to appoint them as bookrunners in the deal, sources added.
Mamaearth was co-founded by Varun Alagh, a former Hindustan Unilever executive, and his wife Ghazal in the year 2016.?
In April 2022, Indian e-commerce giant Flipkart had internally raised its IPO valuation goal from the earlier set target of $50 billion to the new and higher goal of $60-$70 billion, sources with direct knowledge told Reuters. Amazon¡¯s competitor Flipkart now plans a U.S. listing in 2023 instead of this year.
One of the sources reportedly said "Flipkart thinks there is an even bigger upside of valuation than originally envisaged. The travel business has started showing great signs already for them", adding that the IPO valuation target could be as high as $70 billion, while another source said to Reuters that it could be between $60-65 billion.
In 2021, Flipkart acquired the Indian travel booking website Cleartrip, and, recently, this week it launched a "Health+" app to offer medicines as well as other healthcare products and services.
And, the main reason behind waiting for the IPO and delaying it to next year instead of 2022, is Flipkart's internal plan to boost valuations further by focusing on two of its relatively new businesses, i.e. online healthcare services and travel bookings, as per the reported sources.
IPO listing of Flipkart is reportedly planned for early-to-mid 2023. Flipkart is reportedly incorporated in Singapore and wants to list in the United States.
When asked about the IPO's timeline, CFO of Walmart, Brett Biggs had reportedly told at an analysts conference in December 2021 that Flipkart's business was "performing almost exactly like we thought" and an "IPO is still very much in the cards", without specifying when the company will list.
After crossing a $10 billion valuation in January 2022, Indian food delivery company Swiggy has started preparations to raise at least $800 million in an IPO early next year, the Nikkei Asia?reported in Feb 2022, citing people familiar with the matter.
It had also been reported that Swiggy has begun adding independent directors to the board, and it plans to position itself as a logistics company and not just a food delivery firm.
SoftBank Group-backed Swiggy had already doubled its valuation to $10.7 billion in its funding round of $700 million which made it a decacorn in January 2022.
After nearly a decade since being founded in 2013, Oyo, a hospitality sector major, was expected to go public this year. But last month an ET report stated that the company has postponed it for next year.
This is reportedly due to the market downturn that would hurt its valuation, according to people familiar with the matter.
The board of Oyo, formally known as Oravel Stays Ltd., reportedly talked through a change in the offering¡¯s timing during multiple meetings in May 2022, after consulting with its bankers and investors, If the company picks up the process again by year-end, the earliest possibility for an IPO would be in 2023, they said, as per ET. The IPO is expected to be around Rs 8,000 crore in size.
Ride-hailing aggregator Ola, which was planning to go public in the first half of this year 2022, has deferred it.
As per a report in Business Today earlier this month, Ola CEO Bhavish Aggarwal said ¡°We were actually very close to filing. We as a board took a call to do it later. It could be later this year or early next year because we¡¯re actually ready. Our ride-hailing business is very profitable. Our investors are very supportive of the strategy on listing. There¡¯s no urgency for us to list. When we come to the market, some people will be positively surprised unlike some of our consumer internet peers.¡±?
As recently as in May 2022, Byju¡¯s had raised $800 million in fresh funding as part of a pre-IPO round, as per ET. Founder and chief executive Byju Raveendran invested $400 million in his personal capacity. The round, which comes ahead of its planned initial public offering (IPO), values the Bengaluru-based company at about $22 billion, people aware of the development told ET.?
Sources said the fundraising is expected to be its last private round, as the company remains bullish about a public market listing. Byju's will look to file papers for an IPO and list in the next nine to 12 months, they said. The company is expecting to be valued at roughly $40 billion when it lists, people aware of its plans said to ET.
Also Read:?From Serum Institute To Swiggy: These Are 10 Most Valued Indian Companies Which Are Yet To Go Public
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