Seven IPOs worth Rs 10,000 crore set to launch before July-end

IPO

Seven initial public offerings (IPOs) with a combined estimated value of around Rs 10,000 crore are expected to enter the market before the end of July, according to two individuals familiar with the developments.

The IPOs in the pipeline include Brigade Hotel Ventures, Indiqube Spaces Ltd, Sri Lotus Developers & Realty, GNG Electronics, Property Share Investment Trust, NSDL, and Hero Fincorp Ltd, the first person said on condition of anonymity.

The second person, who also requested anonymity, mentioned that Indiqube Spaces Ltd is planning to raise around Rs 850 crore, with around 10 percent reserved for retail investors. He further stated that Brigade Hotel Ventures, Sri Lotus Developers & Realty, and GNG Electronics are also gearing up for their respective IPOs, with estimated issue sizes of Rs 900 crore, Rs 700 crore, and Rs 650 crore, respectively.

The retail portion for Brigade Hotel Ventures is likely to be around 10 percent, while Sri Lotus Developers & Realty and GNG Electronics are expected to allocate about 35 percent each to retail investors.

Property Share Investment Trust has already announced an IPO worth Rs 470 crore, which is scheduled to open on July 21 and close on July 25.

In addition, the first person noted that NSDL is expected to come to market by the end of July, before the expiry of its SEBI approval, with an estimated issue size of Rs 3,000 crore. Hero Fincorp Ltd is also working to get listed before the end of July and aims to raise around Rs 3,360 crore, he added.

Both companies have experienced notable corrections in the unlisted market, with NSDL’s shares falling over 21 percent and Hero Fincorp’s shares declining more than 28 percent from their recent highs.

Recently, Hero Fincorp, a non-banking financial company backed by Hero MotoCorp, raised Rs 50 crore in a second round of pre-IPO funding from Vattikuti Ventures, the investment firm of US-based entrepreneur and philanthropist Raj Vattikuti. This funding round involved the allotment of 3.57 lakh shares at a price of Rs 1,400 each.