From PolicyBazaar to Adani Wilmar -- Here is a list of IPOs likely to open in October

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Bhakti MakwanaOct 2, 2021, 07:00 IST
From PolicyBazaar to Adani Wilmar -- Here is a list of IPOs likely to open in October

BCCL

  • 58 IPOs have been listed on the stock exchange in 2021, as per BSE data.
  • 13 companies have got listed on the exchanges in the last two months among which Paras Defence & Space Technologies’ IPO was a blockbuster one with 171% listing gains.
  • Here is a list of IPOs that are likely to open in October.
2021 is definitely a year for companies wanting to go public. Back to back initial public offerings (IPOs) have created meaningful wealth for both institutional investors and retail investors. While 58 IPOs have already been listed on the stock exchanges in 2021, there are many more to come.

The IPO rush is real as 23 companies have filed their draft red herring prospectus (DRHP) with the market regulator in September. There are many companies awaiting the regulator’s approval to go ahead with the IPO.

13 companies have got listed on the exchanges in the last two months among which Paras Defence & Space Technologies’ IPO was a blockbuster one with 171% listing gains.

While investors are awaiting companies like Life Insurance Corporation (LIC), Paytm, Nykaa, PharmEasy, MobiKwik to open their IPOs this year, here is a list of IPOs that are likely to open in October.
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PolicyBazaar

PolicyBazaar
BCCL

India’s largest online insurance aggregator, PolicyBazaar is looking to raise ₹6,000 crore through the IPO. PolicyBazaar is one of the biggest beneficiaries of the boom in India’s insurance sector as a market leader in selling insurance online.

PolicyBazaar is one among a slew of tech IPOs to hit the Indian exchanges this year. It is also one of the country’s top fintech startups ⁠— the other one being Paytm ⁠— going for a public issue. 95% of PolicyBazaar’s revenue comes from commissions from insurance companies for selling policies.

Paradeep Phosphates

Paradeep Phosphates
BCCL

The fertiliser manufacturing company is looking to raise ₹1,255 crore through fresh issue of shares and sale of over 12 crore shares by its existing shareholders and promoters.

The company will utilise the proceeds of the IPO into financing a fertiliser manufacturing unit in Goa, some for payment of debt and other for general corporate purposes. Paradeep Phosphates is primarily engaged in manufacturing, trading, distribution and sales of a variety of complex fertilisers such as diammonium phosphate (DAP) and NPK fertilisers.

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Adani Wilmar

Adani Wilmar
BCCL

Fast moving consumer goods (FMCG) company Adani Wilmar, known for edible oil 'Fortune', has filed its DRHP with the market regulator to launch a ₹4,500 crore IPO.

Adani Wilmar is a joint venture between Adani Group and Singapore-based Wilmar which was formed in 1999. It sells cooking oils under the Fortune brand as well as various other food products like rice and sugar.

Keventer Agro

Keventer Agro
BCCL

Mandala Capital-backed Keventer Agro is looking to raise ₹350 crore through fresh issue of shares with an offer for sale of 1.07 crore shares by Mandala Swede SPV that holds a 6.16% stake in the firm.

The Kolkata-based company specialises in packaged, dairy and fresh food products. It manufactures, packages, markets and distributes products including Frooti, Appy, B Fizz, Appy Fizz, Bailley, Smoodh which are licensed to them pursuant to various franchisee agreements.

The company plans to utilise the raised capital for repayment of certain debts, working capital requirements and general corporate purposes.

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Seven Islands Shipping

Seven Islands Shipping
BCCL

Seven Islands Shipping is a Mumbai-based crude oil carrier and seaborne logistic company that is looking to raise ₹600 crore through public listing. The company started its operations in 2003 with one vessel and currently has 20 Indian flagged and Indian owned liquid cargo vessels with a total deadweight tonnage capacity of 1.1 million tonnes. The IPO proceeds will be utilised to buy new vessels for crude oil transportation.

Aadhar Housing Finance

Aadhar Housing Finance
BCCL

Private equity firm Blackstone Group-backed Aadhar Housing Finance is looking to raise ₹7,300 crore through IPO. It is a retail-focused affordable housing finance company, serving economically weaker and low-to-middle income customers, who require small ticket mortgage loans. It has branches across 20 states and union territories, operating in approximately 12,000 locations across India with assets under management of ₹11,431 crore. The company proposes to utilise fresh IPO proceeds towards strengthening its capital base.

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Arohan Financial Services

Arohan Financial Services
BCCL

The Kolkata-based micro-finance lender is looking to raise ₹850 crore through the IPO. However, several media reports say that the company might raise ₹1,800 crore comprising a fresh issue of ₹950 crore and an offer for sale of ₹850 crore. Arohan is a non-banking financial company (NBFC) and is also into microfinance serving the underpenetrated segments of the market. Arohan Financial, which offers microcredit to women borrowers in financially under-penetrated and low-income states, will utilise fresh issue proceeds for augmenting its capital base.

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