IPO Buzz: More than a dozen companies are set to debut next month, including Zepto

Next month, more than a dozen companies, including Zepto, TruHome Finance and logistics platform Shiprocket, are likely to go public with their IPOs.

Merchant bankers said the upcoming issue, collectively worth Rs. It expects to raise over Rs 25,000 crore, comprising a mix of fresh equity issue and offer for sale (OFS) components.

Bhavesh Shah, MD and Head-Investment Banking, Equirus Capital, said, “With stability in the markets and improving investor sentiment, companies that were waiting on the sidelines are now moving ahead with their IPO plans.”

In the largest offering, Zepto through a fresh issue of 11.34 crore equity shares with an OFS of Rs. 8,010 crore planned to be raised.

Housing finance company Truhome has invested Rs. 3,000 crore IPO has been proposed, in which Rs. Includes fresh issue of up to 1,500 crore and OFS of equal amount.

Elevate Campus fully through fresh issue of Rs. 2,550 crore, while Shiprocket has raised Rs. 2,342.35-crore IPO has filed, with Rs. 1,100 crore in fresh issue and Rs. 1,242.35 crore of OFS included.

Other companies gearing up to hit the capital markets include InnovativeVue India (up to Rs 2,000 crore, entirely through OFS) and Milky Mist Dairy Foods (Rs 1,553 crore).

Besides Dhoot Transmission, ARCIL (Asset Reconstruction Company India Limited), Ardee Industries, Gaja Alternative Asset Management, Rays of Belief, Hy-Tech Engineers, Shankesh Jewelers and Learnfluence Education are also planning to launch their initial public offerings.

The new pipeline comes amid continued activity in the primary market, reflecting improving investor sentiment and healthy demand for new listings.

Market participants expect IPO activity to remain buoyant as companies look to capitalize on favorable fundraising conditions.

So far this year, 36 companies have launched their IPOs, including nine that hit the primary market this month. Additionally, Manipal Health Enterprise and Juniper Green Energy are set to open their public issues on July 29 and July 30 respectively. MV Electrosystems is also set to launch its IPO next week.

Looking ahead, Shah said the long-term outlook for India’s IPO market remains strong despite periodic volatility.

“The primary market has undergone a structural transformation, with equity becoming an increasingly preferred source of growth capital. While there will always be strategic pauses due to market volatility, the underlying pipeline remains very strong. I expect to raise around USD 20 billion through IPOs this calendar year,” he said.

He added that well-priced IPOs are likely to continue to generate healthy returns, while aggressively priced offerings may witness limited upside, as investors become increasingly selective rather than indiscriminately bullish.