Source: The Economic Times
Many Indian startups are preparing to file Initial Public Offerings (IPOs) in the near future. While these confront a plethora of sectors, startups come from somewhere in the middle of the pack from logistics and fintech to primary goods and ecommerce. Some have begun filing documents with Securities Exchange Board of India (SEBI) and others are almost ready to submit.
Startups That Have Submitted IPO Papers
Wakefit
Wakefit, a manufacturer of mattresses and other furniture products, has filed its draft papers with SEBI. Wakefit plans to raise ₹468 crore through a fresh issue of ₹468 crore through a fresh issue. Proceeds from the issuance will be used to open 118 new stores and refurbish existing ones. The IPO also includes an offer-for-sale (OFS) by existing shareholders.
Groww
This online investment platform has filed confidentially for an IPO that will raise between $700 million and $1 billion. The company will list shares on NSE and BSE.
Pine Labs
Pine Labs, which is based in Noida, is a payments company backed by the likes of Mastercard and PayPal. It plans to raise ₹2600 crores (around $370 million) by issuing a combination of fresh shares as well as an OFS of upto 147.8 million shares. The company is expected to be valued at $4 billion to $5 billion.
Shiprocket
Shiprocket, logistics and ecommerce enablement platform backed by Zomato and Temasek, has also filed for IPO confidentially. The company is looking to raise ₹2,000 – 2,500 crore, of which ₹1,000 – 1,100 crore will be through fresh shares issued by the company.
Urban Company
This at-home services platform had filed their IPO papers back in April. The IPO is for ₹1,900 crore with ₹429 crore from new shares and ₹1,471 crore from shares sold by existing investors (Accel, Tiger Global etc.).
Boat (Imagine Marketing)
Boat, a well known electronics brand has filed its papers but said it might not come to the market immediately. The firm is looking to be worth more than USD 1.5 billion.
Capillary Technologies
Capillary, which offers customer loyalty and engagement solutions, has filed for an IPO that includes ₹430 crore in fresh shares and an OFS of 18.3 million shares. This is the second attempt by the company to go public.
Startups Preparing to File
Meesho
Ecommerce company Meesho is looking to raise ₹4,250 crore through new shares. The company has recently re-denominated back to India and will now file its IPO papers soon.
Lenskart
The eyewear company is looking for a $1 billion IPO with a target valuation of ~$10 billion. Lenskart has already been converted from a private limited company to a public limited company and has the backing from SoftBank.
Shadowfax
The logistics startup Shadowfax plans to anticipate their IPO filing in about a month. Shadowfax is expected to raise ₹2,000–2,500 crore with about half from new shares.
Zetwerk
Zetwerk, an early-stage manufacturing startup, intends to go public in the next 12 to 24 months, and has already begun preparations for the listing process during the current financial year.
PhonePe
The digital payments titan PhonePe has confirmed its $1.5 billion IPO plans later this year. The company is expected to file its draft papers by August and is aspiring for a valuation of close to $15 billion.
