The market experts and investors are keenly awaiting the general election of the next year as tech IPOs are said to be hit Street after the polls that will decide the next government of the country. Reportedly, the investors are confident that new-age tech IPOs would raise more than Rs 7300 crore collectively. The new-age startups that are about to issue their initial public offerings are currently preparing to tap the markets after the General Elections in 2024. Meanwhile, investors have set their keen eyes on five IPOs this week, those are Tata Technologies Ltd, Indian Renewable Energy Development Agency, Flair Writing Industries, Gandhar Oil Refinery, and Fedbank Financial Service (Fedfina) are supposed to raise more than Rs 7300 crore. To unfold more details of these keenly awaited new-age startups that will issue their IPOs very soon, go through this article till the end. Scroll down.
Reportedly, at least nine new-age tech startups are polishing their offerings and preparing to hit the Street after the general election the next year. Do you know what are the new-age tech startups preparing for offerings? These are Swiggy, MobiKwik, FirstCry, Lenskart, OfBusiness, PayU, and PhonePe which are preparing to raise more than $2 billion next year. Swipe down the page and read more details.
The same kind of rush of tech startups was seen in India in 2021 when Zomato, Policybazaar, Nazara Technologies, and Nykaa issued their IPOs and sold shares. The managing director of Prime Database Group, Pranav Haldea said, “On the supply side, there are several companies that are considering IPOs as a preferred route to give their investors an exit. On the demand side, the upcoming state elections’ verdict and the outcome of the general election will have an impact on overall market sentiment and, consequently, the primary market,” He further added that the primary market always has been rather dull in the run-up to elections. Continue reading this article.
Experts added that the results of assembly elections that would be declared in December will decide the sentiment and offer a glance into how the general election will happen. He further added, “There could be a small window before the general elections, which some of the companies that have already filed documents with Sebi (markets regulator Securities and Exchange Board of India) and secured approval will look to exploit” Stay tuned to this website for more details and further updates.