Top ten upcoming IPOs of 2022: LIC, PharmEasy, Adani Wilmar, Byju's and more

The initial public offer (IPO) market in India logged its best ever performance in a calendar year with companies garnering over Rs 1 lakh crore in 2021. A total of 63 companies raised nearly Rs 1.19 lakh crore through IPOs this year. The record funding for companies comes despite weak market sentiment arising from the nationwide Covid-19 lockdown in the first half of the calendar year. The IPO collection surpassed its previous high of Rs 67,147 crore witnessed in 2017 when only 36 issues hit the primary market.

In the previous year, India Inc raised 26,612.61 crore and Rs 12,361.55 crore was collected via IPOs in 2019.

One97 Communication or Paytm  which raised Rs 18,300 crore, Zomato (Rs 9,375 crore), Star Health & Allied Insurance ( Rs 6,018 crore), PolicyBazaar (Rs 5,625 crore), Sona Comstar (Rs 5,550 crore), Nykaa parent FSN Commerce Ventures (Rs 5,350) crore and Indian Railway Finance Corporation (Rs 4,633.38 crore) were among the prominent IPOs of 2021.

Here's a look at top ten upcoming IPOs of 2022:

Adani Wilmar: The IPO of joint venture between Adani Group and the Wilmar Group will be a fully fresh issue of shares. The FMCG food company plans to raise Rs 4,500 crore through the primary market. The objectives of the share sale will be funding capital expenditure for expansion of existing manufacturing facilities, developing new manufacturing facilities, repayment/prepayment of borrowings; funding strategic acquisitions and investments; and general corporate purposes.

LIC: The IPO of the country's largest insurer Life Insurance Corporation (LIC) of India is slated to hit the market in January-March quarter of 2022. The government plans to fulfill its disinvestment target of  Rs 1.75-lakh crore in the current fiscal through stake sale in LIC. It plans to divest divest 5-10 per cent equity in LIC. The government is likely to raise around Rs 80,000 crore to Rs 1 lakh crore through the share sale.

OYO: The hospitality major is eyeing Rs 8,430 crore through the share sale next year. The IPO will comprise fresh issuance of up to Rs 7,000 cr or $966 million and an offer for sale aggregating up to Rs 1,430 cr or $197 million.

Ola: The ride-hailing company plans to sell shares and list on bourses in the first half of 2022. The IPO is likely to have an issue size of Rs 15,000 crore.  The share sale will help Ola investors such as SoftBank, Tiger Global, and Steadview Capital to exit or partially sell their stake in the company to return funds to their shareholders. OLA is estimated to have raised over $4 billion in funding so far.

Delhivery: The new-age delivery and logistics services provider plans to raise Rs 7,460 crore through an IPO. The firm filed its draft prospectus with the Securities and Exchange Board of India (Sebi) in early November. The company will raise Rs 5,000 crore through issuance of fresh shares while it will have an offer for sale (OFS) component of Rs 2,460 crore where some of its existing investors will dilute their holdings, said the firm in its draft red herring prospectus.

PharmEasy: The digital healthcare platform filed for an initial public offering (IPO) in November 2021. It plans to raise up to Rs 6,250 crore through through a fresh issue of shares. The company provides health services ranging from teleconsultation to radiology tests to home delivery of medical products and devices.

Bajaj Energy: The company plans to raise Rs 5,450 crore through the IPO. The  offer will comprise of a fresh issue worth  Rs 5,150 crore and an offer-for-sale (OFS) of shares up to  Rs 300 crore by Bajaj Power Ventures. The company received Sebi's nod in September 2019. It filed the DRHP with the regulator in April 2019. It is one of the largest private sector power producer in Uttar Pradesh.

Byju's: The edtech startup is planning an IPO in the next 15-18 months, its founder Byju Raveendran, told Business Today in August 2021. Byju's plans to raise between $400 million to $600 million in order to accelerate its plans to go public, according to a Bloomberg report.

SBI Mutual Fund: Country's largest lender State Bank of India (SBI) plans to list its mutual fund arm SBI Funds Management next year. SBI Funds Management is a joint venture between SBI and Paris-based Amundi Asset Management. SBI plans to sell 6% of its stake in the mutual fund arm, while Amundi is likely to offload around 4% of its stake.

NSE: The country's biggest stock exchange is likely to launch its IPO next year. NSE plans to raise Rs 10,000 crore through the share sale. The company's shareholders include several prominent names such as SBI, LIC, IFCI, IDBI Bank, Goldman Sachs, Stock Holding Corporation, Tiger Global and Citigroup.