The state-run company raised ₹4,633 crore from the primary markets. IRFC is the dedicated market borrowing arm of the Indian Railways. The IPO of IRFC was the first public issue by a railway non-banking financial company. The first IPO of the 2021 calendar year was of Indian Railway Finance Corporation Ltd's (IRFC), a subsidiary of the Indian Railways. It also made a strong debut at the stock market getting listed at 79 per cent premium over its issue price. Falguni Nayar-led company's IPO was a huge success. The company made its market debut at 17 per cent premium over its issue price.įSN E-Commerce Ventures, which operates online beauty e-commerce platform Nykaa, raised ₹5,352 crore through IPO. PB Fintech IPO got subscribed 16.59 times. in September 2020 to emphasize the nature of fintech businesses. The company name was changed to PB Fintech Pvt.
The parent firm of Policybazaar and Paisabazaar was earlier named Etechaces Marketing and Consulting Pvt. It included a fresh issue of equity shares worth ₹3,750 crore and an offer of sale of ₹1,960 crore by existing shareholders. PB Fintech, the parent company of online insurance aggregator Policybazaar and credit comparison platform Paisabazaar, raised ₹5,710 crore from the primary market. Zomato also made a stellar debut at the stock markets making a debut at 53 per cent premium over its issue price. It was a huge success with the IPO getting subscribed 38.25 times. The company raised ₹9,375 crore through the IPO. The second-largest IPO during the year was of online food delivery platform Zomato. Though Paytm's IPO got subscribed 1.89 times, it made a disastrous debut at the stock market crashing 27 per cent from its issue price ( ₹2,150 per share) on the first day due to lofty valuation and skepticism about its business model. Paytm's IPO surpassed the long-standing IPO record of ₹15,200 crore set by the state-run Coal India Limited in 2010. This is, so far, the largest ever IPO in India. One 97 Communications, the parent company of digital payments platform Paytm, raised a whopping ₹18,300 crore (USD 2.5 billion) through IPO. "IPOs from new-age loss-making technology start-ups, strong retail participation and huge listing gains were the key highlights," said Pranav Haldea, Managing Director of Prime Database Group. The record fundraising from the Indian primary market was led by the new-age technology businesses. Sensex of the Bombay Stock Exchange (BSE) hit a record high of 62245.43 points while Nifty 50 of the National Stock Exchange (NSE) touched its all-time high of 18,604.45 points on October 19, 2021. The benchmark indices of the Indian stock markets hit new highs during the year. The bullish trend at the stock markets buoyed the investors' interests in the IPOs.
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