Starting October 28, several companies are scheduled to launch their initial public offerings or IPOs over the next few weeks. Nykaa, Policybazaar and Fino Payment Bank are among the upcoming initial public offers (IPOs) that will be raising funds from retail investors. These IPOs come on the back of other successful ones this year including Paras Defence, Zomato, Tatva Chintan and Clean Sciences Limited.
Many other IPOs of marquee names in the unlisted space such as PayTM, Mobikwik, Flipkart and Adani Wilmar are also expected to be launched soon.
The end of the current financial year may also see the listing of insurance giant Life Insurance Corporation of India. LIC's primary market offering is likely to be the largest IPO ever seen in India's capital market history.
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1. Nykaa
The IPO of Nykaa, officially FSN E-Commerce Ventures Limited, will be available for investment by investors from October 28 to November 1.
The company's shares will be available to the public in lots of 12, with a price band of ₹1085 to ₹1125, and will collectively aim to raise ₹5,351.90 crores.
Founded by Falguni Nayyar in 2012, a former investment banker with Kotak Mahindra Bank, Nykaa primarily retails online in two verticals: fashion and personal care.
The proceeds of the IPO will go towards its subsidiaries, repaying debts and for general corporate purposes.
2. Policybazaar
The IPO of the insurance broking platform Policybazaar, officially PB Fintech Limited, will be offered to investors from November 1 to November 3.
Buyers can apply to the IPO in lots of 15 shares, with a price band of ₹940 to ₹980. Overall, the company will look to raise a little more than ₹6,057 crores.
Founded in 2008 by Yashish Dahiya and Alok Bansal, the company launched as an online platform - Policybazaar - for customers to compare and buy insurance policies in one place. Later, it expanded into lending products such as loans and credit cards through a platform called Paisabazaar.
The company plans to utilise the proceeds of the IPO towards brand visibility, offline presence, expansion abroad, general corporate purposes and funding new acquisitions.
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3. Fino Payments Bank
Fino Payments Bank offers its customers payment banking solutions, withdrawing and depositing cash through micro-ATMs and Aadhaar and domestic fund transfers.
The MD and CEO of Fino Payments Bank Limited is Rishi Gupta.
Its IPO will launch from October 29 to November 2. Buyers can subscribe to the IPO in a price band starting at ₹560 to ₹577 in lots of 25.
Collectively, the company aims to raise just above ₹1,200 crores.
The proceedings will go towards fortifying its Tier-1 capital, and meeting expenses of the offer.
4. Sigachi Industries
Sigachi Industries is a manufacturer of 59 grades of microcrystalline cellulose, a component used in finished pharmaceuticals, with applications in food, medicine and cosmetics. The promoters of the company are -Rabindra Prasad Sinha, Chidambarnathan Shanmuganathan, Amit Raj Sinha, and RPS Projects & Developers.
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It has two manufacturing units in Gujarat, and one in Hyderabad.
Subscribers can buy at ₹161 - ₹163 per share in lots of 90 shares.
The company is looking to raise ₹125.43 crores. The offer will run from November 1 to November 3.
5. SJS Enterprises
SJS Enterprises is a manufacturer of decorative aesthetics.
It has two manufacturing units, one in Bengaluru and the other in Pune.
It aims to raise ₹800 crores. The IPO will be available from November 1 to 3, with a price band of ₹531 to ₹542 per share. Applications can be made in lots of 27 shares.
The company is promoted by KA Joseph and Evergraph Holdings Private Limited.
The offer of PayTM is said to come in on November 8 after Diwali, with reports suggesting that it is looking to raise ₹18,300 crores, 10% more than its earlier target. However, the size of the issue or its technicalities has not been released by the company yet.
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