Next-in-line public issues to revive bullish bets on Indian markets

Although the stock markets have been volatile in 2022, the year has been marked by a steady stream of initial public offerings (IPOs) whose momentum shows no signs of slowing.

The following IPOs, hitting the markets after the BSE Sensex on Wednesday regained the 60,000-point level, are just a small portion of a much larger initial share sale market his year.

Digit Insurance, Concord Biotech, Dreamfolks Services and Balaji Solutions are the upcoming IPOs you can watch out for.

With over two dozen new mutual fund schemes launched in July, new fund offerings (NFOs) too have made a strong comeback after a three-month pause.

Here are a few of the most anticipated IPOs of 2022:

Digit Insurance

The general insurer, backed by Canadian billionaire Prem Watsa, has filed draft documents for an IPO. According to the documents, the company is looking to raise Rs 1,250 crore from a fresh issue of shares and through an offer for sale of 109.4 million equity shares for an undisclosed amount.

The total size of the IPO is likely to be around Rs 5,000 crore, according to a source quoted by Moneycontrol. Digit provides motor, health, travel, fire and other small-ticket insurance. Motor insurance makes up more than half of the startup’s gross written premiums. The startup was the first unicorn of 2021, a year that saw 44 companies being valued at $1 billion or more.

ALSO READ: Balaji Solutions files draft papers to raise funds through listing

Concord Biotech

The Ahmedabad-based biotech company, backed by late investor Rakesh Jhunjhunwala, has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise funds through an IPO.

The IPO consists of a pure offer-for-sale of up to 20.93 million shares or the entire 20 percent stake held by its promoter Helix Investment Holdings, which is backed by Quadria Capital Fund, an Asian healthcare-focused private equity fund.

According to the draft papers, Quadria Capital invested Rs 475.30 crore in 2016 for the 20 percent stake in Concord. Read Further

Balaji Solutions

The IT hardware, peripherals and mobile accessories distributor has filed draft papers with the Securities and Exchange Board of India to raise funds through an IPO.

The IPO will consist of a fresh issue of Rs 120 crore and an offer-for-sale of up to 7.5 million shares by existing shareholders and promoters. The OFS will comprise up to 1.5 million shares held by Rajendra Seksaria and up to 6 million by Rajendra Seksaria HUF. Find More

Dreamfolks Services

India's largest aggregator of airport lounge services will be raising funds through an IPO this month. Dreamfolks Services' initial public offering is expected to open for subscription on August 24, and close on August 26. The anchor portion for the issue will open for bidders a day prior -- on August 23.

The business Dreamfolks is engaged in is expected to grow rapidly as India plans to open new airports in cities. A Frost & Sullivan report says airport services may register growth of Rs 5,385 crore by FY30, with the number of lounges rising to 295 by 2040.

PTI also reported in March that the company was looking at an IPO size of Rs 1,000-1,200 crore. Dreamfolks has now had to cut its offer for sale to 17.2 million shares from 21.8 million it had planned earlier. Through the IPO, the promoters will be also looking to sell shares. The public issue consists of up to 6.5 million shares each of Mukesh Yadav and Dinesh Nagpal and up to 4 million shares owned by founder-chairperson and MD Liberatha Peter Kallat. Read more