Top Upcoming IPOs to Watch in 2024
As the IPO landscape continues to grow, 2024 is set to bring some highly anticipated public offerings across various sectors. Here’s a deep dive into some of the biggest names expected to go public, including insights on valuation, revenue trends, and company details.
1. Swiggy (Food Delivery) 🍕
Company Overview:
Swiggy is one of India’s largest online food delivery platforms, offering a seamless experience for customers across multiple cities. Founded in 2014 by Sriharsha Majety, Nandan Reddy, and Rahul Jaimini, Swiggy has expanded its services to groceries and other essentials through Swiggy Instamart.
Valuation: $10–12 billion
Revenue Growth:
2022: ₹5,705 crore
2023: ₹8,119 crore
2024 (Estimated): ₹10,000+ crore
Promotors: Sriharsha Majety and Nandan Reddy
IPO Issue Size: $1 billion expected
2. OYO (Hospitality) 🏨
Company Overview:
OYO Rooms is a global hospitality company offering budget hotel stays and vacation homes. It has disrupted the hospitality market with its affordable and standardized accommodation model. Founded by Ritesh Agarwal, OYO has grown rapidly in India and internationally.
Valuation: $10 billion
Revenue Growth:
2022: ₹4,905 crore
2023: ₹6,422 crore
2024 (Estimated): ₹7,500+ crore
Sector: Hospitality
Promotor: Ritesh Agarwal (Founder and CEO)
IPO Issue Size: ₹8,430 crore expected
3. HDB Finance (Financial Services) 💸
Company Overview:
HDB Financial Services, a subsidiary of HDFC Bank, provides a range of financial products including personal loans, business loans, and asset financing. It is one of the top NBFCs in India and a major player in the financial services industry.
Valuation: ₹60,000 crore
Revenue Growth:
2022: ₹12,500 crore
2023: ₹15,000 crore
2024 (Estimated): ₹18,500 crore
Sector: Non-banking financial services (NBFC)
Parent Company: HDFC Bank
IPO Issue Size: ₹10,000 crore expected
4. Hyundai Motor India (Automobile) 🚗
Company Overview:
Hyundai Motor India is a leading car manufacturer, offering popular models like Creta and i20. As one of the top automobile companies in India, it plans to expand into electric vehicles in the coming years.
Valuation: ₹50,000 crore
Revenue Growth:
2022: ₹45,000 crore
2023: ₹50,000 crore
2024 (Estimated): ₹60,000 crore
Sector: Automobile manufacturing
Parent Company: Hyundai Motor Company (South Korea)
IPO Issue Size: ₹9,000 crore expected
5. BoAt (Consumer Electronics) 🎧
Company Overview:
BoAt is India’s leading audio and wearable brand, known for its affordable earphones, headphones, and smartwatches. Founded in 2016 by Aman Gupta and Sameer Mehta, BoAt has become synonymous with stylish and budget-friendly tech gadgets.
Valuation: ₹11,000 crore
Revenue Growth:
2022: ₹3,000 crore
2023: ₹4,000 crore
2024 (Estimated): ₹5,500 crore
Sector: Consumer electronics
Promotors: Aman Gupta and Sameer Mehta
IPO Issue Size: ₹3,000 crore expected
6. Bajaj Energy (Power) ⚡
Company Overview:
Bajaj Energy is one of the largest private-sector thermal power generation companies in India. It focuses on thermal power plants and aims to expand its renewable energy portfolio in the future.
Valuation: ₹5,450 crore
Revenue Growth:
2022: ₹1,800 crore
2023: ₹2,000 crore
2024 (Estimated): ₹2,200 crore
Sector: Energy and power
Parent Company: Bajaj Group
IPO Issue Size: ₹5,450 crore expected
7. Snapdeal (E-commerce) 🛍️
Company Overview:
Snapdeal is one of India’s pioneering e-commerce platforms. Though it faced stiff competition from Amazon and Flipkart, Snapdeal has pivoted to focus on value-driven customers in Tier 2 and Tier 3 cities.
Valuation: ₹10,000 crore
Revenue Growth:
2022: ₹3,000 crore
2023: ₹3,400 crore
2024 (Estimated): ₹4,000 crore
Sector: E-commerce
Promotors: Kunal Bahl and Rohit Bansal
IPO Issue Size: ₹1,250 crore expected
8. Studds Accessories (Helmet Manufacturing) 🏍️
Company Overview:
Studds Accessories is the world’s largest helmet manufacturer. The company has seen steady growth, supplying motorcycle helmets to India’s vast two-wheeler market.
Valuation: ₹2,500 crore
Revenue Growth:
2022: ₹900 crore
2023: ₹1,200 crore
2024 (Estimated): ₹1,400 crore
Sector: Automotive accessories
Promotors: Sidharth Bhushan Khurana and Suman Kant Munjal
IPO Issue Size: ₹500 crore expected
9. Mobikwik (Fintech) 💳
Company Overview:
Mobikwik is a mobile wallet and payment gateway provider in India, offering digital payments and financial services. It competes with Paytm and PhonePe in India’s digital payments market.
Valuation: ₹5,000 crore
Revenue Growth:
2022: ₹1,500 crore
2023: ₹2,000 crore
2024 (Estimated): ₹2,700 crore
Sector: Fintech
Promotors: Bipin Preet Singh and Upasana Taku
IPO Issue Size: ₹1,900 crore expected
10. Arohan Financial (Microfinance) 🏦
Company Overview:
Arohan Financial is one of India’s largest microfinance institutions. It aims to provide financial inclusion to underserved populations across India.
Valuation: ₹4,000 crore
Revenue Growth:
2022: ₹1,000 crore
2023: ₹1,400 crore
2024 (Estimated): ₹1,600 crore
Sector: Microfinance
Parent Company: Aavishkaar Group
IPO Issue Size: ₹1,800 crore expected
11. Fab India (Retail) 🛍️
Company Overview:
Fab India is a well-known Indian retail brand specializing in handwoven and handicraft products. With its focus on promoting Indian crafts, it has captured a unique segment of the retail market.
Valuation: ₹4,000 crore
Revenue Growth:
2022: ₹1,800 crore
2023: ₹2,100 crore
2024 (Estimated): ₹2,500 crore
Sector: Retail and textiles
Promotors: William Bissell
IPO Issue Size: ₹4,000 crore expected
‘2024 promises a strong lineup of IPOs from a wide range of industries, offering investors opportunities in sectors like e-commerce, hospitality, fintech, and more. From the tech-forward Mobikwik to the fashion-savvy Fab India, each IPO has its own unique value proposition. However, investors should assess company fundamentals, growth prospects, and market trends before making any investment decisions.’
Disclaimer: This blog is for informational purposes only and should not be considered financial advice. Details like company valuations and IPO specifics are based on publicly available data as of 2024 and are subject to change. Please consult a financial advisor and review official filings (such as the DRHP) before making any investment decisions. Past performance is not indicative of future results.
