Look out for these Indian unicorn startups’ IPOs | Avaneesh Parasar

 

Look out for these Indian unicorn startups’ IPOs | Avaneesh Parasar


By 2025, the number of unicorns in India can go up to over 100, according to global management and strategy consulting firm Zinnov. Avaneesh Parasar

Avaneesh Parasar

Just now·4 min read

  • Here’s all you need to know about the IPO-bound train of Indian startups
  • Digitisation has provided an impetus to the startup ecosystem in India.
  • Grocery shopping, responding to work emails, catching up with friends, reading the news — we live in a world where, for all of these activities and more, we turn to our smartphones.

Technology has been touted as the game changer for human civilisation ever since the industrial revolution.

But it’s only in the last couple of decades that we have seen just how much technology has changed our day-to-day lives.

The Indian technology start-up ecosystem continues to be on a growth trajectory on the back of rapid digitalisation and tech adoption as we emerge from the pandemic.

At the moment there is no place better than India where one can find the most tangible evidence of this wave, in the form of a tech initial public offering (IPO) boom that boasts of an impressive line-up of stock market listings that have generating significant interest among investors.

It all began with Zomato which was recently welcomed to the bourses by investors with open arms.

Food delivery company Zomato became the nation’s first unicorn to make its stock-market debut, raising US$1.3 bn with backing from Morgan Stanley, Tiger Global, and Fidelity Investments.

A unicorn is a privately held start-up company valued at over US$1 bn.

Following the current trend, a wide range of homegrown start-ups are eyeing listing on the bourses in the coming months.

Let’s know, which are the key unicorn players seeking listing in India.

1. Policy Bazaar

Policy Bazaar, promoted by EtechAces Marketing and Consulting, is an Indian insurance aggregator founded in June 2008 by Yashish Dahiya, Alok Bansal, and Avaneesh Nirjar.

EtechAces, which houses Paisa Bazaar, may hit the primary markets with the Policy Bazaar IPO. The Gurugram based Policy Bazaar may target valuation around US$3.5-bn ahead of its IPO.

Recently, Policybazaar’s parent PB Fintech approved a resolution to raise up to ₹60 bn via an IPO, making it the fifth Indian start-up to initiate proceedings to list on the national bourses.

In its draft red herring prospectus (DRHP) filed with the market regulator, Policy Bazaar said it will raise ₹37.5 bn in a fresh issue with the remaining ₹22.7 bn will be through a secondary sale via an offer for sale (OFS).

The insurance aggregation firm has the potential to become the first of India’s mega-start-ups to debut as its digital economy booms.

Started as an insurance policy price comparison website, the start-up has shaped itself as an insurance selling entity.

The company claims to process nearly 25% of India’s life insurance and over 7% of the country’s retail health cover.

2. Delhivery

Delhivery is an Indian delivery and supply chain company, founded in 2011 by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan, and Kapil Bharati.

The company offers logistics services to a number of e-commerce companies.

According to some media reports, the company is expected to go public in next 6–8 months, valued at US$3.5–4 bn. It expects to raise US$400 m to US$500 m through the public offer.

Delhivery raised US$100 m from FedEx Express, a subsidiary of global delivery services giant FedEx Corp.

The company is backed by the Softbank Carlyle Group, Tiger Global, Stead view Capital, Fosun International, Nexus Venture Partners, among others.

Two weeks back, IPO-bound Delhivery said it may acquire a 100% stake in rival express logistics player Spoton Logistics for US$200 m. Acquiring Spoton Logistics will enable Delhivery to further strengthen its delivery network.

3. Nykaa

Nykaa is an Indian lifestyle marketplace for beauty, wellness, and fashion products, incorporated in 2012 by Falguni Nayar, an alma mater of Indian Institute of Management (Ahmedabad) and former MD of Kotak Mahindra Capital.

The company has expanded from online-only to an omnichannel model to sell the products.

The unicorn start-up is expected to hit with an IPO, valuing company around US$4 bn.

Nykaa, the largest in its space in India, has filed DRHP with the market regulatory for its public offer.

The filing for an IPO is being hailed as a milestone for Indian markets as Nykaa is one of the few start-ups going for a stock market listing after declaring a profit.

The sector is dominated by global players — US e-commerce giants Amazon and Walmart-owned Flipkart, and by the likes of Sephora in brick-and-mortar.

Source- https://www.livemint.com/companies/start-ups/look-out-for-these-indian-unicorn-startups-ipos-11629262327027.html

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