IPOs galore! Stage set for Zomato, Paytm, Delhivery, Nykaa; Niti Aayog CEO Amitabh Kant says Indian startup movement vibrant, dynamic

As the home-grown startups make a queue to get listed on the bourses starting with Zomato, a food delivery aggregator, NITI Aayog Chief Executive Officer (CEO) Amitabh Kant says it’s a remarkable move and “demonstrates the vibrancy and dynamism of our Startup movement” in the country.

Amitabh Kant through his official Twitter handle on Thursday said, “Delighted that Indian Startups - Delhivery, Nykaa, Paytm and Zomato will be listing in the Indian stock markets and raising growth capital through IPOs (Initial Public Offers). 

He further points out, “This demonstrates the vibrancy and dynamism of our Startup movement and the maturity of our capital markets. Remarkable move!”

Zomato this week become the first startup on the list Kant mentioned to get list on the exchanges, as the company on Thursday opened the initial public for three days from July 14-15, 2021, The IPO size is Rs 9375 crore with a price range of Rs 72-76 per share.

The company has a presence in 525 cities across India and over 32 million users visit the platform each month, news agency AFP reported. The startup is backed by Jack Ma’s Ant Group.

Besides, there have also been talks around that Paytm, a digital payment and shopping platform, is also mulling one of the biggest IPOs with an issue size over Rs 21000 crore this year, as Reuters reports in its latest news report.

The company has received in-principle approval from the board for its $3 billion IPO. In addition, it is supposed to raise Rs 4,600 crore from the company’s sales of shares from the existing shareholders.

Similarly, a Gurgaon-based New age logistics and supply chain start-up is eyeing an IPO valuation of $4 billion, which is set to take place between December-end this year or later in March 2022.

Meanwhile, Naykaa, beauty and fashion retailer, is looking to go public later this fiscal and expects to raise between $500-700 million through public offer, the startup is set at a valuation of $4.5 billion.