IPO Boom: ₹6,800 Cr Listings This Week
India’s primary market is buzzing with five IPOs aiming to raise over ₹6,800 crore, led by fintech giant Groww. This flurry of listings—spanning healthcare, travel, and housing finance—marks one of the busiest weeks for IPOs in 2024.
Groww IPO: Fintech Unicorn’s Mega Debut
The ₹3,500 crore Groww IPO is the week’s headline act. Key details:
– Valuation: ~$5 billion
– Structure: ₹1,500Cr fresh issue + ₹2,000Cr OFS (Sequoia, Ribbit Capital selling stakes)
– Strengths: 15M+ users, profitable since 2023, and dominance in India’s retail investing boom.
Analysts expect heavy subscription demand, though pricing and tech sector sentiment will influence listing gains.
4 Other IPOs to Watch
- Aadhar Housing Finance (₹1,000Cr)
- Backed by Blackstone, targets affordable home loans.
-
Subscription: May 13–15.
-
TBO Tek (₹1,200Cr)
- B2B travel platform with strong post-pandemic recovery.
-
Dates: May 14–16.
-
Indegene Limited (₹800Cr)
- Healthcare SaaS firm riding pharma digitization.
-
Opens: May 16.
-
Bharti Hexacom (₹300Cr)
- Airtel’s infra arm; small but strategic issue.
Market Outlook & Risks
- Bullish Sentiment: Nifty at record highs boosts IPO appetite.
- Caution Advised: Recent listings like Vibhor Steel saw volatility. Monitor grey market premiums (GMPs) before bidding.
Key Dates & How to Invest
| Company | Subscription Dates |
|—————|——————–|
| Groww | May 15–17 |
| Aadhar Housing| May 13–15 |
| TBO Tek | May 14–16 |
Track live updates on NSE/BSE or brokerage apps. Experts recommend:
– Comparing valuations vs. peers (e.g., Groww vs. Zerodha).
– Checking IPO objectives (growth capital vs. investor exits).
Bottom Line
This week tests India’s IPO market depth, with Groww as the marquee name. Success could spur more tech listings, while tepid response may signal cooling investor euphoria.
