Let us start with the basics, what does IPO’s mean?
According to Investopedia, an initial public offering (IPO) is the first time that the stock of a private company is offered to the public.
IPOs are mostly issued by minor, relatively younger companies seeking principal to develop, but they can also be issued by larger as well as privately owned companies looking to become publicly traded.
The following record is a list of companies that are looking to go public:
- UTI Mutual Fund:
- The company has been planning an IPO for quite some time and will most probably launch it in the next few upcoming months, maximum by March 2018.
- Its IPO will allow a fractional exit to four of its investors—State Bank of India, Life Insurance Corporation, Bank of Baroda and Punjab National Bank.
- With this IPO, UTI will become the first fund house to be listed in the India.
- HDFC Life:
- The company hired Morgan Stanley and Credit Suisse to raise an approximate of 10,000 crore INR in an IPO.
- India’s third biggest private insurance company, it intends to sell a minimum of 20 percent in the preliminary share sale.
- SBI Life:
- State Bank of India announced that it would sell 80 million shares to the public put forward by the SBI Life insurance Company.
- An insurance regulator has approved SBI Life’s IPO application, searching to elevate as much as 7,000 crore INR, the largest such share sale by a life insurer in India.
- The firm could sell shares amounting to a 12% stake, raising 6,000-7,000 crore INR.
- New India Assurance:
- The government-owned general insurer, New India Assurance Company Ltd, filed the draft red herring prospectus with the Securities and Exchange Board of India to list its business through an initial public offering (IPO) according to the standard protocol.
- New India’s IPO will be of 120 million shares, with a face value of 5 INR each. The offer comprises of 24 million equity shares and an offer of sale of 96 million equity shares, according to the prospectus.
- Kotak Investment Banking, Axis Capital, IDFC Bank, Nomura Financial and YES Securities have been selected as the merchant bankers for the IPO.
- General Insurance Corporation of India:
- General Insurance Corporation of India (GIC Re), the government-owned general reinsurer, has filed a draft red herring prospectus with the Securities and Exchange Board of India (Sebi) to list its shares through an initial public offering (IPO).
- The IPO will be of 124.7 million shares, with a face value of Rs 5. The offer comprises of 17.2 million equity shares and an offer for sale of 107.5 million equity shares, by the promoters of the company.
- Axis Capital, Deutsche Bank, Kotak Investment Banking, HSBC, and Citi have been prearranged as the merchant bankers for the IPO by GIC.