From cosmetics company Nykaa to food delivery app Zomato, many well-known companies opened their public issue for subscription this year.
This Indian stock market witnessed record growth in terms of initial public offerings (IPOs) this year. A total of 65 companies launched their public issue in 2021, garnering over Rs 1.31 lakh crore, as per MoneyControl.
From cosmetics company Nykaa to food delivery app Zomato, many well-known companies opened their public issue for subscription this year. Here is a look at some of the top IPOs this year:
The IPO of One97 Communications, the parent company of Paytm, was open for subscription from 8 to 10 November. The Rs 18,300 crore IPO was the largest in the country’s corporate history.
However, the issue received a lukewarm response from investors, being subscribed 1.89 times in total. Furthermore, the shares opened on the Bombay Stock Exchange (BSE) at a discount of 9 percent from its issue price of Rs 2,150. The shares later fell by 27.25 percent to Rs 1,564.
On the National Stock Exchange (NSE), the shares opened at Rs 1,950 but declined by 27.44 percent to Rs 1,560 at the end of the day.
The public issue of Policybazaar and Paisabazaar operator PB Fintech made a decent debut at the stock markets in November with a 17.35 percent premium. The company earned Rs 5,625 crore through its IPO.
According to MoneyControl, the shares of the digital insurance marketplace, were subscribed 16.59 times. The public issue of PB Fintech consisted of an offer for sale (OFS) of Rs 1,960 crore and a fresh issue worth Rs 3,750 crore.
The IPO of FSN E-Commerce Ventures Ltd, the parent company of the fashion brand Nykaa, made a stellar debut at the stock market this year.
The fashion brand raised Rs 5,352 crore through its public issue, and was subscribed 81.78 times.
The shares of Nykaa made a 79 percent premium on its listing, opening at Rs 2,018 on the NSE and Rs 2,001 on the BSE.
The food delivery app opened its public issue in July 2021. The company raised Rs 9,375 crore through its IPO and was backed by Jack Ma’s Ant Group. Zomato’s shares were subscribed 38.35 times, according to reports.
On its listing, the shares fetched a premium of 53 percent against its issue price.
Power Grid Infrastructure Investment Trust (InvIT), sponsored by the Power Grid Corporation of India, raised Rs 7,735 crore through its IPO, making it the third-largest public listing of the year.
The shares of the company were subscribed 4.83 times and got listed at a premium of 4 percent over its issue price of Rs 100.
It was the first InvIT from the company to raise funds from public issues and lists on the exchanges.
Apart from these companies, Star Health and Alliance Insurance Company (Rs 7,249.2 crore) backed by Rakesh Jhnujhunwala, Sona Comstar (Rs 5,550 crore) and Indian Railway Finance Corporation (Rs 4,633 crore) were some of the biggest IPOs to open this year.