India’s primary market, which opened up with the new government taking over in May 2014, has seen a number of marquee corporate names go public, especially in the past year.

The successful listing of top air carrier IndiGo, largest coffee chain Café Coffee Day’s parent, second-largest diagnostics chain Dr Lal PathLabs and ICICI Prudential Life Insurance, among others, have paved the way for more firms to look at a public issue. This was either to provide an exit route to their investors or to raise fresh capital as an alternative to getting private equity funding.

VCCircle’s quick look at the pipeline of IPOs shows 16 firms have received approval from the capital markets regulator Securities and Exchange Board of India for a public issue. Given that the approval is valid for one year, these firms have a reasonably long runway to test the waters.

Some of them, however, are expected to skip their date or postpone their listing plans, if their bankers gauge that investor interest in them or their sector is not strong enough.

The pipeline shows that around half the firms which are waiting to go public have a consumer-facing business: speciality retail, wellness, education, healthcare, cola bottler and online matrimonial property.

There are five other firms that have filed documents for their IPOs. These are a hospital operator, a stock exchange, a mortgage lender, a pharmaceuticals company and a mattress maker.

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