As investors gear up major initial public offers (IPOs) that will hit primary markets from next week, here is a look at all the developments on companies that will list on the exchanges.
Fintech platform MobiKwik eyes New Year listing
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MobiKwik, one of India's largest mobile wallets and Buy Now Pay Later (BNPL) players, is looking to get listed as soon as possible in the next year, Upasana Taku, co-founder and COO of the company said.
Taku said the company is awaiting the final audit numbers and will go public soon after that. "Bravado in entering the market does not make sense," said Taku in an interview with CNBC-TV18. "We have to be smart before going public, especially after building a company for 12 years," she said.
Taku said the company is capital sufficient and has seen 100 percent revenue growth in the last few years with the business being close to profitability now. Talking about the FY21 business, she said the numbers did not demonstrate the company's full potential due to COVID-19.
Snapdeal goes omni-channel to target ‘Bharat’ ahead of IPO: Report
Ahead of its $250 million initial public offering (IPO), e-commerce firm Snapdeal is all set to venture into the offline domain with the launch of partner stores across small cities of the country with an aim to attract and cater to ‘Bharat’, according to Moneycontrol.
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The first Snapdeal partner store will be launched in January. The company plans to gradually expand the number to around 25 by the end of the next year.
Snapdeal will partner with existing or aspiring retailers for an asset-light focused rollout under which the company will help retailers procure goods of its power brands through its very own sellers, the report added.
Sachin Bansal-backed Navi Tech kick-starts process for 2022 IPO: Report
Flipkart co-founder Sachin Bansal’s financial services startup Navi Technologies is preparing for an initial public offering (IPO) after turning profitable in FY21, sources told Moneycontrol.
The firm has shortlisted investment banks and the deal is likely to be kicked off this week. Axis Capital, ICICI Securities, BofA Securities and Credit Suisse have come on board as advisors and more banks could be added if required, the report added. The company is likely to file its DRHP with Sebi before the end of the current financial year.
MapmyIndia IPO receive strong demand from investors on Day 2
The initial public offering of C.E. Info Systems, which is known for its brand MapmyIndia, continued to receive strong demand from investors on its second day of bidding on December 10. MapmyIndia's Rs 1,039.6-crore initial public offering witnessed healthy investor interest as it ended day two with 6.16 times subscription, according to BSE data.
The IPO received 2.02 times more demand than the shares on offer on the first day. The retail portion was fully subscribed within an hour of opening.
The digital map provider is selling shares at Rs 1,000-1,033 apiece, seeking a market value of Rs 5,500 crore at the upper end. The IPO is a pure offer for sale by promoters private equity and other selling shareholders.
The company is planning to mop up Rs 1,039.60 crore through its maiden public issue. The MapmyIndia IPO has already raised h Rs 312 crore from its anchor investors. The MapmyIndia IPO is set to close after three days of bidding on Monday, December 13.
(Edited by : Jomy Jos Pullokaran)
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