From Oyo, Tata Play To Swiggy & Ola-List Of 10 Big IPOs Expected To Be Rolled Out In 2023

After the mega IPOs of LIC, Delhivery, Nykaa, Zomato, Paytm, PB Fintech amongst others in the past two years 2021 and 2022, 2023 looks no less exciting for investors.

While the dates of most IPOs have not yet been finalized as the new year 2023 has just begun, the exciting pipeline of expected IPOs of 2023 seems promising.

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Curious to know about the big upcoming IPOs of 2023? Read on as we list some of the big IPOs expected to be rolled out in 2023.

1.Tata Technologies & Tata Play

Tata group fans can indeed rejoice in 2023. After TCS' IPO in 2004, Tata Group is finally set to roll out not just one but two IPOs this year.

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Tata Play (formerly Tata Sky) and Tata Technologies are set to go public with their respective IPOs this year. Tata Play last month became the first company in the country to use the confidential pre-filing of documents option for its initial public offer (IPO) before the market regulator, Securities and Exchange Board of India (SEBI).

As far as Tata Technologies is concerned, its IPO is expected to come out as early as the April- June quarter of 2023, i.e. the first quarter of Financial Year 2023-24. Tata Play's IPO is expected to be rolled out before Tata Technologies this year.

Also Read: Tata Group Backed Bigbasket Eyes IPO By 2025

2.Oyo Rooms

After almost a decade since being founded in 2013, hospitality sector major Oyo was expected to go public last year. But the firm has been facing one hurdle after another on its road to going public. The IPO is expected to be around Rs 8,000 crore in size, and was expected to be rolled out in early 2023.

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But now, it is expected to further get delayed as recently the Securities and Exchange Board of India (SEBI) has written back to the company asking it to update additional sections in its Draft Red Herring Prospectus (DRHP).

So, Oyo IPO is expected to now likely be delayed by another quarter and may be rolled out in the second half of 2023.

3.Ola

Another IPO that was expected to be rolled out in the first half of 2022 but didn't happen, is ride-hailing aggregator Ola Cabs.

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Ola CEO Bhavish Aggarwal said last year ¡°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 December 2022, Ola CEO had confirmed the plans to go public in 2023.

Also Read: Looking Back At The Biggest, Best, & The Worst Performing IPOs Of 2022

4.Swiggy

After crossing the $10 billion valuation in January 2022 and thus turning into a decacorn, Indian food delivery company Swiggy had already started preparations to raise $800 million-$1 billion in an IPO aimed to be rolled out in early 2023.

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Last year, 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. Swiggy formally launched the IPO last year by hiring investment banks JP Morgan and ICICI Securities as lead managers.

5. Byju¡¯s

Another much-anticipated IPO of 2023 can turn out to be of Byju's. Its IPO has been in the pipeline since last year.

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In May 2022, Byju¡¯s raised $800 million in fresh funding as part of a pre-IPO round. Its CEO Byju Raveendran had invested $400 million in his personal capacity. Sources reportedly 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 within the next few months and the company is expecting to be valued at roughly $40 billion when it lists. In November 2022, it was reported that Byju¡¯s is also finalizing plans for a $1 billion IPO of its tutoring business Aakash Educational Services. Byju¡¯s could submit Draft Red Herring Prospectus in January or February and aim for the IPO to take place around August-September 2023.

6.boAt

Early last year, it was reported that Shark Tank India judge Aman Gupta's audio-focused electronics brand Boat was set to float Rs 2000-crore IPO and eyed $1.5-2 billion valuation through it in 2022.

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But the company postponed its IPO plans in October last year and instead said that the company would raise Rs 500 crore from Warburg Pincus and new investor Malabar Investments to fuel the expansion of its business. The convertible preferred stocks will be priced to either the IPO or the next funding round though chances of the former is higher,¡± one the people aware of the terms of the deal had told ET.

7.Mobikwik

Fintech firm Mobikwik had last year confirmed plans to raise Rs 1,500 crore from IPO. When asked about the timelines for the launch of IPO, the company had said that it will go for listing once the market conditions become stable.

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The company in its draft document for IPO, had mentioned that it was hit by the Covid-19 pandemic but the business had later crossed to pre-Covid levels and the company has had good performance. Now it remains to be seen whether the fintech firm goes ahead to launch the IPO in 2023.

8.Flipkart

One of the most anticipated and biggest IPO of 2023 can be of e-commerce giant Flipkart.

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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. Amazon rival Flipkart reportedly plans a U.S. listing in 2023.

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.

9.Mamaearth

As recently as last week, Indian skincare startup and unicorn Mamaearth's parent Honasa Consumer Ltd had filed its draft prospectus for IPO with market regulator SEBI. Mamaearth was co-founded by Varun Alagh, a former Hindustan Unilever executive, and his wife Ghazal in the year 2016.

Mamaearth's IPO will consist of a fresh issue of shares worth Rs 4 billion or Rs 400 crore ($48.30 million) and an offer for sale of 46.8 million shares.

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Investors including Sofina, Stellaris Venture Partners, Fireside Ventures, co-founders Varun and Ghazal Alagh, and Bollywood actor Shilpa Shetty are among those expected to partially sell their stake in Honasa via the offer for sale.

Mamaearth parent Honasa said it would use about Rs 1.86 billion from the IPO for advertising expenses. The startup reported a consolidated restated profit of Rs 157.2 million in the year ended March 31, 2022, its financial statement showed.

10.Ixigo

More than a year ago in December 2021, online travel portal Ixigo's parent Le Travenues Technology Ltd had obtained SEBI's approval for Rs 1600 crore IPO. But since then, the firm has been in a ¡®wait and watch mode¡¯ for its IPO.

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Ixigo had even turned back to profitability in the first quarter of FY23, but its IPO process still remains to go ahead. It can be expected for a roll out this year.

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