Upcoming IPOs in 2022

After a massively successful year in 2021 that smashed several records of fund raising, the market is looking forward to 2022. The outlook for the current year looks very exciting with several big names like LIC, NSE lined up to tap primary markets.

Unsurprisingly, the list of upcoming IPOs in 2022 is dotted with some very big names backed by venture capital and private equity firms. This list of new IPOs also includes startups which are heavily funded by venture capital firms. While several startups like Zomato, CarTrade, and Nykaa tested waters in 2021, many more startups feature in the list of upcoming IPOs in 2022.

Upcoming IPOs in 2022 – Top forthcoming IPOs in India

IPO CompanyIssue Size (in INR)Issue Date
AGS Transact800 croreJanuary 2022
ESDS Software 400 croreJanuary 2022
Tracxn Technologies January 2022
Puranik Builders 810 crore January 2022
Vedant Fashions (Manyavar)January 2022
Waaree Energies1,350 crore January 2022
Go Airlines3,600 crore2022
Sahajanand Medical Technologies1,500 crore2022
API Holdings (PharmEasy)6,250 crore
Inspira Enterprise India800 crore2022
ESAF Small Finance Bank997.8 crore2022
Popular Vehicles and Services150 crore2022
One MobiKwik Systems1,900 crore2022
LIC80,000 crore 2022
Fincare Small Finance Bank1,330 crore 2022
Snapdeal2,000 crore
Skanray Technologies400 crore 2022
Penna Cement1,550 crore 2022
Adani Wilmar3,600 crore 2022
India1 Payments150 crore 2022
Emcure Pharmaceuticals1,100 crore 2022
Delhivery7,460 crore2022
Le Travenues Technology (Ixigo)1,600 crore2022
Oravel Stays
(OYO)
8,400 crore 2022
Droom Technology3,000 crore 2022
Bikaji Foods2022
Venus PipesMay 2022

Life Insurance Corporation of India (LIC)

LIC IPO is simply the most anticipated offer in India this year. The insurance major is likely to be valued more than INR13 lakh crores. Given the humongous size of the company, even offering 5% equity in the offer is likely to result in INR65,000 crore float. It will require several changes in the regulatory and market setup to accommodate the size of this forthcoming IPO.

As of now, Paytm IPO takes the crown of the biggest public offer in India and its size of INR18,300 crore presents the stark difference between the two IPOs. However, this size is likely to help retail investors with firm allotment. Taking the ground work ahead, the Department of Investment and Public Asset Management (Dipam) has finalized Milliman Advisors LLP India for valuing the insurance behemoth ahead of the new IPO.

Delhivery – Most interesting of upcoming IPOs in 2022

Logistics unicorn Delhivery is yet another entry in the list of interesting upcoming IPOs in 2022. According to the draft prospectus filed with SEBI, the forthcoming IPO will include a fresh issue of shares worth INR5,000 crore while existing shareholders also plan to offload shares worth up to INR2,460 crore through an offer for sale (OFS). Most prominent among these selling shareholders are Carlyle and SoftBank.

The company is yet to receive SEBI’s approval so the timing of the new upcoming IPO is not known as yet. Nevertheless, it is likely that the offer may be launched in the second-half of the calendar year.

HDB Financial Services

HDB Financial Services – a subsidiary of HDFC Bank – is also likely to go public this year, making it fifth group company to list on stock exchanges. The nonbanking finance unit’s IPO is likely to mobilize INR10,000 crore and its parent has already hired merchant bankers for the offer. Apart from consumer loans, the company offers enterprise loans and asset financing.

The company has posted impressive performance in recent years. For the year ended 31 March 2020, HDB Financial Services posted profit of INR1,005 crore on revenues of INR10,756 crore. In comparison, its top-line stood at just INR3,302 crore in FY2016, according to annual reports on  its website. Despite this high growth, HDB has managed to keep the quality of its credit profile intact. Being an HDFC-group company, HDB is likely to fetch premium valuations as well as another entry in the forthcoming IPOs in 2022.

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