How Many IPOs Are Expected to Hit D-Street? New Age Tech like OYO, First Cry Gears Up For IPO

In 2023, the Indian IPO market thrived with 57 firms launching mainboard IPOs, collectively raising Rs 49,434 crore. This momentum is expected to continue into 2024, fueled by heightened retail participation. The average retail investor applications skyrocketed to 13.21 lakh in 2023, a significant jump from 5.66 lakh in 2022. Tata Technologies led the way with 52.11 lakh applications, marking Tata Group's first IPO in nearly two decades. This was followed by DOMS Industries and INOX India, with 41.30 lakh and 37.34 lakh applications, respectively. The year 2023 also saw a substantial increase in average listing gains, rising to 29% from 11% in 2022. Looking ahead to 2024, 27 companies have already received SEBI approval to raise Rs 28,500 crore, with an additional 36 companies waiting to raise Rs 40,500 crore. Among these, three new-age technology companies (NATCs) - OYO, Digit Insurance, and First Cry - aim to raise approximately Rs 16,000 crore. January 2024 is set to witness the launch of five IPOs. Jyoti CNC Automation's IPO, opening on January 9, will mark the year's first, aiming to raise Rs 1,000 crore. Medi Assist Healthcare and Mukka Proteins are also expected to launch their offers, with the latter focusing on fish meal, oil, and paste, exporting to over 10 countries. SPC Life Sciences and Allied Blenders and Distillers are also in line, with the latter planning a Rs 2,000 crore IPO, split equally between a fresh issue and an offer for sale (OFS). The retail quota for these IPOs is 35%, with 50% for QIBs and 15% for HNIs.