Zomato, GoAir and other major upcoming IPOs in 2021
- Companies that have recently filed the draft prospectus for their offering with market regulator include Zomato, GoAir, CarTrade, Nuvoco Vistas, Devyani International, and Aditya Birla Sunlife AMC.
After a dull period in the first few months, many companies are now lining up for initial public offerings (IPOs) which could make 2021 an action-packed year for the public offerings.
Nazara Technologies, RailTel, Barbeque Nation, Easy Trip Planners, MacroTech Developers are among the companies that got listed in the first five months of the year.
Companies that have recently filed the draft prospectus for their offering with the market regulator Securities and Exchange Board of India (SEBI) include Zomato, GoAir, CarTrade, Nuvoco Vistas, Devyani International, and Aditya Birla Sunlife AMC.
List of upcoming public issues in 2021:
Zomato: The Foodtech platform filed its draft red herring prospectus (DRHP) proposing an offering of ₹8,250 crore. The company will be issuing fresh equity shares worth ₹7,500 crore, along with the company’s early backer Info Edge India Ltd selling its stake worth ₹750 crore in Zomato's upcoming public offering.
The company plans to use net proceeds towards funding organic and inorganic growth initiatives.
GoAir: Wadia Group-controlled Go Airlines (India) Ltd filed a draft prospectus for an initial share sale to raise up to ₹3,600 crore. GoAir, which has rebranded itself as Go First, aims to raise funds through the sale of new shares. The net proceeds will be utilized to mainly repay debt.
Nuvoco Vistas: Nirma Group's cement company, Nuvoco Vistas Corp plans to raise Rs5,000 crore through the IPO.
The IPO will comprise a fresh issue of Rs1,500 crore and an offer for sale of Rs3,500 crore by its promoter entity Niyogi Enterprise Pvt. Ltd. Niyogi Enterprises holds 86.56% stake in the company.
The proceeds from the fresh issue of shares will be used for repayment in full or part of certain borrowings availed by the company.
Aditya Birla Sun Life AMC: The AMC had filed the IPO papers in April. Aditya Birla Capital will sell up to 2.88 million shares held by it in the asset management business, while Sun Life (India) AMC will sell up to 36.03 million shares. Aditya Birla Capital holds 51% stake in the AMC, and the remaining 49% is held by Sun Life.
CarTrade: The online auto classifieds platform plans to raise ₹2,000 crore via offer for sale (OFS). CarTrade, which helps users find used as well as new cars, is backed by the American private equity giant Warburg Pincus, Singapore’s state investor Temasek, JPMorgan and March Capital Partners.
Devyani International: Food and beverages major Devyani International, the largest franchisee of Pizza Hut, KFC, and Costa Coffee aims to raise nearly ₹1,400 crore through the IPO. It intends to use parts of the proceeds towards repayment of certain borrowings, and for general corporate needs.
Penna Cement: The ₹1,550 crore IPO comprises a fresh issue of ₹1,300 crore and an offer for sale of up to ₹250 crore by its promoter PR Cement Holdings Ltd. The proceeds from the issue will be used to pay debts of up to ₹550 crore.
Medi Assist: Bengaluru-based Medi Assist Healthcare Services intends to raise ₹850 crore completely via OFS. Medi Assist Healthcare Services, which manages claims related to health insurance, claims to be the largest health benefits administrator in terms of revenues and premium serviced for health insurance policies.
Glenmark Life Sciences: The IPO will consist of a fresh issue of ₹1,160 crore and an offer for sale of up to 7.31 million shares by parent Glenmark Pharmaceuticals Ltd.
Proceeds from the fresh issue will be used for the payment of outstanding purchase consideration to the promoter for the spin-off of the active pharmaceutical ingredients (API) business And capital expenditure requirements.
Other companies like Windlas Biotech, Aptus Value Housing Finance, bulk drugs firm Supriya, Chemplast Sanmar, Shriram Properties, India Pesticides also filed their draft papers last month.
According to media reports, Life Insurance Corporation of India (LIC), Bajaj Energy, Nykaa and others are also expected to go public this year but are yet to file the prospectus with SEBI.
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