Travel booking site EaseMyTrip plans to raise Rs 1,500 crore ($210 million) through an initial public offer, potentially becoming the first company in the online travel booking space to list in India, according to people briefed on the matter. Rival MakeMyTrip, which is at least four times bigger than EaseMyTrip by revenue, listed on the Nasdaq in 2010 after a $70 million IPO. EaseMyTrip was founded by siblings Nishant and Rikant Pitti 10 years ago. The founders expect the business to be valued at between Rs 6,000 crore and Rs 7,500 crore.
145 small and medium enterprises (SMEs) raised a record Rs 2,455 crore through initial public offerings (IPOs) in 2018, a surge of 37% from the Rs 1,785 crore raised in 2017. Funds raised through IPOs in 2018 were mainly used for business expansion plans and working capital requirements. SEBI had brought down the minimum anchor investor size in SME IPO to Rs 2 crore from Rs 10 crore which boosted investor interest and participation. So far 474 firms have garnered Rs 5,825 crore since 2012, when the BSE and the NSE launched the SME listing platforms.
Cabinet Committee on Economic Affairs (CCEA) has approved share sales in seven central public sector enterprises (CPSEs) to raise funds through share sales to meet its disinvestment target. Those approved for listing include RailTel Corp India Ltd, Telecommunications Consultants India Ltd (TCIL), National Seeds Corporation Ltd, Water & Power Consultancy Services Ltd (WAPCOS), FCI Aravali Gypsum and Minerals (India) Ltd and Tehri Hydro Development Corp. All these will list through IPOs. CCEA also cleared a follow-on offer by Kudremukh Iron Ore Co.
Indian stock exchanges ranked second globally, behind the US, in terms of number of initial public offerings (IPOs). Indian corporates raised $5.52 billion from 161 offerings on domestic bourses till November 2018, according to a report by EY India. The EY India IPO Trends: Q4 2018 report noted that while the Industrial sector (construction and engineering) was the most active in terms of number of IPOs, the financial services sector topped the list in terms of issue proceeds. Companies at the US bourses raised $60 billion through 261 IPOs in 2018.