Initial Public Offering (IPO) has existed as an investment option for many years in India. However, it has created more buzz among investors in the last couple of years. This is primarily due to the successful issue of IPOs of famous companies like Nykaa, Paytm, and Zomato.
Millions of investors are now eager to invest in IPOs. You can also consider IPO investment to grow your wealth and get good returns in the long term. There is significant investor action as new IPOs continue to hit the market in 2023.
But before you decide to invest in IPOs, check the following details about the company:
- Background of founders and investors
- Past financial performance
- Vision and mission
- Plans to use IPO money
You can get this information from the company website and IPO prospectus.
Best Upcoming IPOs in India
If you are looking for a list of upcoming IPOs in 2023, here are some options:
1. Bajaj Energy
Bajaj Energy Limited is one of India’s largest power generation companies that has a successful track record of operating power plants. Incorporated in 2008, it has its headquarters in Mumbai and generates electricity through thermal power plants across many locations in Uttar Pradesh. Bajaj Energy plans to raise INR 5450 crores through its upcoming IPO this year. The company expects to use the IPO money to repay debts and for general corporate purposes.
2. Aadhar Housing Financing
Began in the year 1990 in the Southern State of India – Karnataka. Aadhar Housing Finance Limited is known for its budget-friendly home loans and boasts of having one of the largest customer bases and the highest disbursal rates as of FY 2020 They have a wide product portfolio that includes home loans, home improvement loans, home extension loans, and loans for the purchase and construction of residential and commercial property. Its target market is home buyers who are low-income individuals. The company’s upcoming IPO will witness fundraising of INR 7300 crores, making it one of India’s largest IPOs. It will use the amount to expand its market in Tier-1 cities and repay debt.
Incorporated in 2009, MobiKwik is one of India’s leading fintech companies that provide mobile phone-based services such as online payments, digital wallets, loans, and life insurance. It enables customers to manage all financial needs under one roof. Several e-commerce merchants use Zaakpay— MobiKwik’s payment gateway service. One of the most anticipated upcoming IPOs, MobiKwik, plans to raise INR 1900 crores. The company will utilize the IPO money for debt repayment, growth initiatives, and other general purposes.
Ixigo is an artificial intelligence-based online travel website and one of India’s fastest-growing travel websites. Its parent company Le Travenues Technology manages and runs the operations. The company has won multiple awards since it was founded. The company won The Economic Times Startup Awards 2021 in the ‘Comeback Kid’ category. The reason behind this award was that the company survived the COVID-19 pandemic. It has also performed well against major competitors like Yatra and MakeMyTrip. The new IPO debut of Ixigo is likely to see fundraising of INR 1600 crores. It will use the fresh funding for expansion and new acquisitions.
5. Go Air
Began in the year 2005, GoAir Airlines is owned by the Wadia Group and has carried over 80 million passengers ever since. The airline flies to over 39 destinations, of which, 10 are international destinations. Daily, it operates over 300 flights, and currently, the company is all set to go public. The new IPO of GoAir Airlines is likely to see fundraising of INR 2500 crores.
Final Thoughts on New IPOs
The upcoming IPOs in 2023 offer a good opportunity to invest in a new public company. You can look forward to earning returns from the growth of the company. However, IPOs come with risks and rewards. Hence, it is advisable to conduct research and analysis before you decide to invest in IPOs.
Looking for more banking information? Visit Piramal Finance for more informational blogs. Check out our website for other financial services like housing or MSME loans, personal loans, etc.
Also Read: What are Tax-Free Bonds?