India’s stock market has witnessed unprecedented growth in recent years, with several companies making their debut on the public platform and raising capital to fuel their expansion. 2024 is set to be another exciting year for investors as a fresh wave of Initial Public Offerings (IPOs) is expected to hit the market. These IPOs are not only opportunities to invest in high-growth companies but also a chance to participate in the transformation of various industries.
In this comprehensive article, we explore the top upcoming IPOs in India for 2024, provide insights into their businesses, and discuss why they might be worth your investment.
What is an IPO?
An Initial Public Offering (IPO) is the process through which a private company offers shares to the public for the first time. This allows businesses to raise funds, expand operations, and strengthen their market presence. For investors, IPOs provide an opportunity to invest in promising companies early, often at a discounted price compared to their potential future valuation.
Why Invest in IPOs?
- Early Entry Advantage: Investing in an IPO offers the chance to own shares in a company at an early stage, often at a lower price.
- High Growth Potential: Many IPO companies belong to rapidly growing industries.
- Portfolio Diversification: IPOs allow investors to diversify their portfolios by investing in new and unique sectors.
- Market Sentiment: IPOs often attract significant attention, creating opportunities for quick gains in a favorable market.
Top Upcoming IPOs in India 2024
1. MobiKwik
Sector: Fintech
Expected IPO Size: ₹2000 crore
About the Company: MobiKwik is one of India’s leading digital payment platforms, offering a range of services such as mobile wallets, Buy Now Pay Later (BNPL), and payment gateways for businesses. The company’s focus on financial inclusion and digital innovation positions it as a key player in India’s booming fintech sector.
Why Invest: With increasing adoption of digital payments, MobiKwik’s growth potential is immense. Its IPO is expected to attract significant interest from retail and institutional investors.
2. Pharmeasy
Sector: Healthcare and E-commerce
Expected IPO Size: ₹6000 crore
About the Company: Pharmeasy is a leader in India’s online pharmacy space, offering medicines, diagnostic tests, and teleconsultation services. It has rapidly grown into one of the most trusted brands in the healthcare e-commerce segment.
Why Invest: As healthcare digitization accelerates in India, Pharmeasy’s well-established position makes it a strong contender for long-term growth.
3. Ixigo
Sector: Travel and Tourism
Expected IPO Size: ₹1500 crore
About the Company: Ixigo is a travel booking platform that simplifies ticketing for flights, trains, and buses. It leverages AI and data science to provide personalized recommendations to users.
Why Invest: With the revival of travel post-pandemic, Ixigo stands to benefit from a surge in travel demand.
4. Ola Electric
Sector: Electric Vehicles (EVs)
Expected IPO Size: ₹10,000 crore
About the Company: Ola Electric is at the forefront of India’s EV revolution, producing electric scooters and aiming to expand into electric cars. The company is backed by marquee investors and has a robust R&D team.
Why Invest: With government policies supporting EV adoption, Ola Electric’s growth trajectory appears promising.
5. Snapdeal
Sector: E-commerce
Expected IPO Size: ₹1250 crore
About the Company: Snapdeal is one of India’s oldest e-commerce platforms, catering primarily to value-conscious customers. The company has reinvented itself with a focus on affordable products.
Why Invest: Snapdeal’s niche in the value retail segment positions it uniquely in the competitive e-commerce space.
6. BYJU’s
Sector: EdTech
Expected IPO Size: ₹20,000 crore
About the Company: BYJU’s is a global leader in online education, offering a wide range of courses for students across age groups. Its aggressive expansion and acquisitions have strengthened its market position.
Why Invest: As digital education becomes mainstream, BYJU’s is well-poised to dominate the edtech landscape.
7. Boat Lifestyle
Sector: Consumer Electronics
Expected IPO Size: ₹2000 crore
About the Company: Boat is a homegrown brand specializing in audio products, wearables, and accessories. Known for its trendy designs and affordable pricing, it has captured a significant share of the market.
Why Invest: Boat’s strong brand recall and rapidly growing sales make it an attractive investment opportunity.
8. LIC Housing Finance
Sector: Financial Services
Expected IPO Size: ₹25,000 crore
About the Company: LIC Housing Finance is a subsidiary of LIC, focusing on providing home loans to individuals and developers.
Why Invest: With the real estate market showing signs of recovery, LIC Housing Finance is likely to see increased demand for its services.
9. Delhivery
Sector: Logistics
Expected IPO Size: ₹8000 crore
About the Company: Delhivery is a leading logistics and supply chain company that caters to e-commerce, SMEs, and large enterprises.
Why Invest: As e-commerce continues to grow, Delhivery’s integrated logistics solutions will remain in high demand.
10. Fincare Small Finance Bank
Sector: Banking and Finance
Expected IPO Size: ₹3000 crore
About the Company: Fincare focuses on serving underbanked populations with tailored financial products.
Why Invest: Its focus on financial inclusion aligns with India’s growth story, providing an opportunity for stable returns.
Key Considerations Before Investing in IPOs
Market Sentiment: IPOs are often influenced by broader market conditions, so timing matters.
Understand the Business Model: Evaluate the company’s products, services, and growth potential.
Check Financial Health: Review profitability, debt levels, and revenue growth.
Assess Industry Trends: Look at how the industry is performing and the company’s position within it.
Read the Red Herring Prospectus: This document provides detailed insights into the company’s operations, risks, and financials.
