India’s Primary Market Set for Strong July with $2.4 Billion IPO Pipeline
The Indian primary market is gearing up for a robust July, with companies planning to raise approximately $2.4 billion through initial public offerings (IPOs). If the endeavors are successful, it would mark the strongest IPO month since December 2023. This follows a solid $2 billion raised in June, primarily driven by HDB Financial Services.
Key IPOs to Watch in July:
- Credila Financial Services: Expected to raise $584 million, making it the largest IPO in July
- National Securities Depository Ltd (NSDL): Planning to raise $400 million, with its IPO potentially launching soon
- Aditya Infotech: Conducting roadshows, with IPO details yet to be confirmed
- M&B Engineering: Also conducting roadshows, with IPO timeline unclear
Other Notable IPOs in the Pipeline:
- Tata Capital: Seeking to raise Rs 17,200 crore ($2.1 billion), with its IPO potentially launching in July
- LG Electronics India: Expected to go ahead with its $1.8 billion IPO, although the timeline remains uncertain
- JSW Cement: Planning to raise $470 million, with its IPO potentially arriving in late July or early August
- SMPP: Defence equipment maker looking to raise $470 million, with timeline unclear
India’s IPO market has been on a roll, with the country ranking second globally in 2024, raising $20.5 billion. The momentum is expected to continue, driven by strong domestic investor sentiment and improving market conditions
