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India Today
01-07-2025
- Business
- India Today
July turns hot for IPOs as firms race to raise $2.4 billion
The primary market is ready for yet another month of action in the primary market as firms are gearing up to raise around $2.4 billion through initial public offerings (IPOs) in this target is reached, it will mark the strongest IPO month since December 2023, following a solid $2 billion raised in June, most of which came from HDB Financial renewed activity comes after a slow start to the year due to the impact of the U.S. trade war and rising geopolitical tensions in regions like the Middle East. However, with stock markets recovering and investor sentiment improving, companies are once again turning to the primary market to raise the firms expected to go public this month are Credila Financial Services, National Securities Depository Ltd (NSDL), Aditya Infotech, and M&B four companies are currently conducting roadshows, according to investment bankers, reported Reuters. The companies themselves have not publicly confirmed their IPO timelines or details. India had a record-breaking year for IPOs in 2024, raising $20.5 billion and ranking second globally after the United States. This performance was driven by strong inflows from domestic investors who gained from the country's rapid economic growth. This year, the momentum was expected to continue, but events such as U.S. President Donald Trump's trade policies and rising tensions in South Asia delayed several such delayed IPO was that of LG Electronics' India arm, which had planned a $1.8 billion listing. Other firms also held back on launching their public issues due to uncertainty in the things are now looking more positive. Benchmark indices like the Nifty 50 and Sensex have recovered and are trading just about 3% below their peak levels. This recovery has brought confidence back into the IPO market."The IPO market has come back.... The absence of most of the negatives is driving the market more than anything else," Suraj Krishnaswamy, Managing Director of Investment Banking at Axis Capital, told Reuters. So far this year, India remains the world's second-largest IPO market, raising $5.86 billion. This accounts for 12% of all IPO proceeds globally, according to LSEG data.A STRONG LINE-UP AHEADAmong the IPOs expected in July, Credila's offering is set to be the largest at $584 million. NSDL is also planning to raise about $400 million. Though NSDL received approval to list as early as September 2023, its plans were delayed due to concerns about slowing economic and corporate growth. Bankers now say that both firms could soon announce final dates and ahead, LG Electronics India is expected to go ahead with its $1.8 billion IPO, while JSW Cement and defence equipment maker SMPP are also planning to raise close to $470 million each. JSW Cement's IPO could arrive as early as late July or early August, while the timeline for the other two remains to data from PRIME Database, there are 143 IPOs in the pipeline from Indian companies, with a total estimated value of $26 billion. Of these, 73 have already received approval from the Shah, Managing Director and Head of Investment Banking at Equirus, told Reuters, 'We expect the upcoming months to be the best for Indian IPO market as compared to what we have seen so far this year.'However, some market watchers are taking a more cautious view. Umesh Agrawal, a fund manager at 360 ONE Asset, said that investor behaviour has changed."Investors have become far more selective and are now much more mindful about where they see higher potential for returns," he said.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- Ends advertisement
Time of India
01-07-2025
- Business
- Time of India
From LG to NSDL: India IPO market gears up for $2.4 billion in offerings in July as confidence rebounds
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Indian firms could raise some $2.4 billion through IPOs in July, investment bankers said, raising hopes of a sustained revival in primary offerings after demand was dented by the U.S. trade war and global geopolitical tensions earlier this amount would mark the strongest month since December and would follow a robust $2 billion raised in June, though most of that was raised by one company, HDB Financial loan provider Credila Financial Services, National Securities Depository Ltd (NSDL), surveillance firm Aditya Infotech and power-transmission-goods maker M&B Engineering are conducting roadshows and are expected to go public this month, bankers spoke on condition of anonymity as the companies have yet to make the timing of their IPOs and other details public. The companies did not respond to Reuters requests for IPO market had its best-ever year in 2024, with $20.5 billion raised, second only to the U.S., riding high on money inflows from domestic investors who have become wealthier on growth in the world's fifth-largest economy and were optimistic about more economic year was widely expected to be another record year but U.S. President Donald Trump's trade war, tensions with Pakistan and in the Middle East took much wind out of those IPO sails. South Korean conglomerate LG Electronics' India unit and other companies ended up delaying their capital raising now look to be getting back on track, particularly with the Nifty 50 and Sensex having regained lost ground to trade about 3% off from their peaks."The IPO market has come back.... The absence of most of the negatives is driving the market more than anything else," said Suraj Krishnaswamy, the managing director of investment banking at Axis Capital So far this year, India continues to the world's No. 2 IPO market with $5.86 billion raised, accounting for the 12% of total proceeds globally, LSEG data largest offering this month is likely to be Credila, which has said it is seeking $584 India's largest stock depository, is looking to raise $400 million, according to a received its regulatory nod for a listing as far back as September but market sentiment trended lower not long after on concerns about slower growth for the economy and corporate about the two firms' valuations and IPO dates could be announced soon, bankers major offerings in the pipeline are LG Electronics India's $1.8 billion IPO, and issues from JSW Cement and defence equipment maker SMPP worth around $470 million each, they offering could come in late July or early August, according to one banker. The timing of the other two was less to PRIME Database, there are 143 Indian IPOs being planned worth a potential $26 billion. Of those, 73 have been approved by regulators."We expect the upcoming months to be the best for Indian IPO market as compared to what we have seen so far this year," Bhavesh Shah, the managing director and head of investment banking at however, were more cautious in their optimism, saying that participation from high net worth individuals and ordinary retail investors is unlikely to be as strong as it was last year."Investors have become far more selective and are now much more mindful about where they see higher potential for returns," said Umesh Agrawal, fund manager at 360 ONE Asset.
Indian Express
01-07-2025
- Business
- Indian Express
India's IPO market eyes $2.4 billion in offerings in July as confidence rebounds
Indian firms could raise some $2.4 billion through IPOs in July, investment bankers said, raising hopes of a sustained revival in primary offerings after demand was dented by the US trade war and global geopolitical tensions earlier this year. That amount would mark the strongest month since December and would follow a robust $2 billion raised in June, though most of that was raised by one company, HDB Financial Services. Education loan provider Credila Financial Services, National Securities Depository Ltd (NSDL), surveillance firm Aditya Infotech and power-transmission-goods maker M&B Engineering are conducting roadshows and are expected to go public this month, bankers said. They spoke on condition of anonymity as the companies have yet to make the timing of their IPOs and other details public. The companies did not respond to Reuters requests for comment. India's IPO market had its best-ever year in 2024, with $20.5 billion raised, second only to the US, riding high on money inflows from domestic investors who have become wealthier on growth in the world's fifth-largest economy and were optimistic about more economic growth. This year was widely expected to be another record year but US President Donald Trump's trade war, tensions with Pakistan and in the Middle East took much wind out of those IPO sails. South Korean conglomerate LG Electronics' ( opens new tab India unit ( opens new tab and other companies ended up delaying their capital raising plans. Things now look to be getting back on track, particularly with the Nifty 50 (.NSEI), opens new tab and Sensex (.BSESN), opens new tab having regained lost ground to trade about 3 per cent off from their peaks. 'The IPO market has come back…. The absence of most of the negatives is driving the market more than anything else,' said Suraj Krishnaswamy, the managing director of investment banking at Axis Capital. So far this year, India continues to the world's No. 2 IPO market with $5.86 billion raised, accounting for the 12 per cent of total proceeds globally, LSEG data shows. The largest offering this month is likely to be Credila, which has said it is seeking $584 million. NSDL, India's largest stock depository, is looking to raise $400 million, according to a banker. NSDL received its regulatory nod for a listing as far back as September but market sentiment trended lower not long after on concerns about slower growth for the economy and corporate profits. Details about the two firms' valuations and IPO dates could be announced soon, bankers said. Other major offerings in the pipeline are LG Electronics India's $1.8 billion IPO, and issues from JSW Cement and defence equipment maker SMPP worth around $470 million each, they added. JSW's offering could come in late July or early August, according to one banker. The timing of the other two was less clear. According to PRIME Database, there are 143 Indian IPOs being planned worth a potential $26 billion. Of those, 73 have been approved by regulators. 'We expect the upcoming months to be the best for Indian IPO market as compared to what we have seen so far this year,' Bhavesh Shah, the managing director and head of investment banking at Equirus. Others, however, were more cautious in their optimism, saying that participation from high net worth individuals and ordinary retail investors is unlikely to be as strong as it was last year. 'Investors have become far more selective and are now much more mindful about where they see higher potential for returns,' said Umesh Agrawal, fund manager at 360 ONE Asset.
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Business Standard
01-07-2025
- Business
- Business Standard
India's IPO market eyes $2.4 bn in offerings in July on confidence revival
So far this year, India continues to the world's No. 2 IPO market with $5.86 billion raised, accounting for the 12 per cent of total proceeds globally, LSEG data shows Reuters Indian firms could raise some $2.4 billion through Initial Public Offerings (IPOs) in July, investment bankers said, raising hopes of a sustained revival in primary offerings after demand was dented by the US trade war and global geopolitical tensions earlier this year. That amount would mark the strongest month since December and would follow a robust $2 billion raised in June, though most of that was raised by one company, HDB Financial Services. Education loan provider Credila Financial Services, National Securities Depository Ltd (NSDL), surveillance firm Aditya Infotech and power-transmission-goods maker M&B Engineering are conducting roadshows and are expected to go public this month, bankers said. They spoke on condition of anonymity as the companies have yet to make the timing of their IPOs and other details public. The companies did not respond to Reuters requests for comment. India's IPO market had its best-ever year in 2024, with $20.5 billion raised, second only to the US, riding high on money inflows from domestic investors who have become wealthier on growth in the world's fifth-largest economy and were optimistic about more economic growth. This year was widely expected to be another record year but US President Donald Trump's trade war, tensions with Pakistan and in the Middle East took much wind out of those IPO sails. South Korean conglomerate LG Electronics' India unit and other companies ended up delaying their capital raising plans. Things now look to be getting back on track, particularly with the Nifty 50 and Sensex having regained lost ground to trade about 3 per cent off from their peaks. "The IPO market has come back.... The absence of most of the negatives is driving the market more than anything else," said Suraj Krishnaswamy, the managing director of investment banking at Axis Capital. So far this year, India continues to the world's No. 2 IPO market with $5.86 billion raised, accounting for the 12 per cent of total proceeds globally, LSEG data shows. A thick pipeline The largest offering this month is likely to be Credila, which has said it is seeking $584 million. NSDL, India's largest stock depository, is looking to raise $400 million, according to a banker. NSDL received its regulatory nod for a listing as far back as September but market sentiment trended lower not long after on concerns about slower growth for the economy and corporate profits. Details about the two firms' valuations and IPO dates could be announced soon, bankers said. Other major offerings in the pipeline are LG Electronics India's $1.8 billion IPO, and issues from JSW Cement and defence equipment maker SMPP worth around $470 million each, they added. According to PRIME Database, there are 143 Indian IPOs being planned worth a potential $26 billion. Of those, 73 have been approved by regulators. "We expect the upcoming months to be the best for Indian IPO market as compared to what we have seen so far this year," Bhavesh Shah, the managing director and head of investment banking at Equirus. Others, however, were more cautious in their optimism, saying that participation from high net worth individuals and ordinary retail investors is unlikely to be as strong as it was last year. "Investors have become far more selective and are now much more mindful about where they see higher potential for returns," said Umesh Agrawal, fund manager at 360 ONE Asset.
Business Recorder
06-05-2025
- Business
- Business Recorder
India's IPO market loses steam on uncertain outlook; Ather stumbles
At least two initial public offerings worth $759 million are expected to be delayed, adding to a growing list of Indian companies deciding to postpone plans for initial public listings due to weak investor sentiment, investment bankers say. Education loan provider Avanse Financial Services and contract drug maker Anthem Biosciences are among companies that will join notable names such as South Korean conglomerate LG Electronics' India unit, to put IPO plans on hold for now, the bankers said. 'There are only select institutional investors coming in at this point given the global uncertainty,' Suraj Krishnaswamy, the managing director of investment banking at Axis Capital, said. 'And India-Pakistan tensions have not helped.' The trend is an indication that the global trade war and geopolitical tensions have clouded the economic outlook and caused companies to delay their capital raising and investment plans. The debut of electric scooter maker Ather Energy, seen as a barometer of investor appetite for the primary market, did not alleviate the market's concerns. The stock closed 5.8% lower, reversing gains after listing at a premium of 2% to its issue price of 321 rupees. The muted listing for a high-profile EV name, which broke a two-month lull in mainboard IPOs, highlights the broader weakness in India's primary market and caution surrounding intense competition in the EV space and elusive profitability, said Vinit Bolinjkar, head of research at Ventura Securities. As many as 58 companies with Indian regulatory clearance have not launched their IPOs due to global market disruptions caused by U.S. President Donald Trump's tariffs, which have negatively affected business sentiment and fuelled recession fears. Indian e-scooter maker Ather Energy falls in market debut Avanse Financial Services received approval for its $356 million IPO in October 2024, while Anthem Biosciences was cleared to raise $403 million on April 3. Neither company responded to Reuters' requests for comment. The regulatory clearances of some firms will expire over the next few months, PRIME Database Group MD Pranav Haldea said, forcing them to either restart the entire IPO process or seek an extension from India's market regulator. India, which was the world's second-largest IPO market last year, has seen a 58% slump in IPOs listed on the main stock exchanges so far this year, according to PRIME Database. The total fundraising on all the listing platforms has seen an 18% drop, LSEG data showed. 'Things are moving slowly, but it is not a complete standstill. In the current scenario, most of the IPOs are in a similar situation,' said an investment banker, who requested anonymity as he was not authorised to speak to the media. Company executives agreed. 'You don't want to file (for IPO) when you do not know how long the volatility will last,' online automobile marketplace Droom's CEO Sandeep Aggarwal said, adding that his firm had decided against filing draft IPO papers by June as it had originally planned. Worried investors Retail investors, having suffered significant losses due to market volatility, are being more cautious with new investments, resulting in a lukewarm reception for this year's IPOs. Ather Energy, which decided to proceed with its $352 million IPO despite the uncertainty, had to cut its target valuation by 44% and lower its offer size. 'Ather can be a risky bet given the current geopolitical issues and high valuation,' Hem Securities senior research analyst Astha Jain said. India's Nifty 50 is up 4.8% from April 2, since U.S. President Donald Trump announced 'reciprocal' tariffs, but is still down 7% from record highs hit in late-September. The unpredictable environment is prompting bankers to urge their prospective IPO clients to adjust their strategies. 'If the issue is important, then you may have to reconsider valuations. If valuation is important, then you have to wait for some more time,' said Bhavesh Shah, the managing director and head of investment banking at Equirus.
