Paytm is reportedly preparing an IPO of about Rs 166 billion ($2.23 billion)India is quick emerging as the hotbed of unicorns i.e.
companies that have actually exceeded appraisal of $1 billion.
The country's unicorn tally has actually already touched the 50 mark and consists of family names such as Flipkart, Paytm, Zomato and Ola, with as lots of as 16 start-ups obtaining unicorn status in the year 2021 alone.
However it is only now that the digital economy companies are taking the general public route, with the upcoming Zomato IPO poised to declare the age of mega Indian startup IPOs.Zomato, the restaurant aggregator and food delivery venture's public problem will open on July 14.
The company is looking to raise Rs 93.75 billion (about $1.25 billion) through a fresh problem of shares and an offer for sale by its moms and dad company, Info Edge.
Zomato's Rs 9,375 crore going public (IPO) will consist of a fresh issue of Rs 9,000 crore and an offer for sale of Rs 375 crore by the promoter, Details Edge India.
The Paytm IPO is expected to be next in line.
The mobile payments and commerce platform is planning an IPO of about Rs 166 billion ($2.23 billion), according to reports.
Flipkart and Ola are the other Indian unicorns that are most likely to tap the main markets for funds in this calendar year.Mobikwik is likewise set to take the IPO path although the digital payment business is not a unicorn in the traditional sense of the word, with its valuation positioned at $70 million.
The digital payments firm backed by Sequoia Capital and Bajaj Financing, has actually declared an initial public offering (IPO) worth up to Rs 1,900 crore with the markets regulator Sebi on Monday.Many other non-unicorn business have also lined up to go public.
An overall of 30 companies have submitted IPO papers to raise Rs 55,000 crore and a minimum of 10-15 business have started the process of going public.An initial public offering (IPO) is a process where a personal business raises cash by providing shares to the public, therefore making a transition into an openly noted business.
Some IPOs may also include a market (OFS) by existing investors.
However, in such cases, the cash will go to the concerned financiers and the issuing company will not get any of the IPO proceeds.Companies raise funds through IPOs for a range of reasons such as expansion, clearing financial obligation and funding corporate costs.
And online delivery start-ups such as Paytm, MobiKwik and Zomato have an added incentive for fund raising as the covid-19 pandemic has actually stimulated unprecedented growth in need for online services.