Mumbai. The board of the country’s largest e-wallet company Paytm has approved the Rs 22,000 crore share sale plan. In such a situation, the market of Initial Public Offer (IPO) is expected to be very big in the coming days. About a dozen financial services companies, including fintechs, are preparing to bring IPOs worth more than Rs 55,000 crore during the current financial year. Investment bankers gave this information.
More than a dozen insurance, asset management, commercial banking, non-bank, micro finance, housing finance and payments bank companies have submitted documents for IPO with SEBI. In such a situation, the financial services sector is expected to dominate the IPO market in the coming months.
These companies submitted documents with SEBI
Companies that have submitted documents for IPO with SEBI include Aadhaar Housing Finance (Rs 7,500 crore), Policy Bazaar (Rs 4,000 crore), Aptus Housing Finance (Rs 3,000 crore), Star Health Insurance (Rs 2,000 crore), Aditya Birla Sun Life AMC (Rs 1,500 to 2,000 crore), Aarohan Financial Services (Rs 1,800 crore), Fusion Microfinance (Rs 1,700 crore), Fincare Small Finance Bank (Rs 1,330 crore), Tamilnad Mercantile Bank (Rs 1,000-1,300 crore), Medi Assist (Rs 840 crore) and Jana Small Finance Bank (Rs 700 crore).Also read- Anonymous person will travel to space with Jeff Bezos, bids 205 crores
Paytm’s IPO will be the country’s biggest IPO
Apart from this, Paytm’s board has approved an IPO of Rs 22,000 crore. If Paytm’s IPO comes, then it will be the biggest IPO in the country.
VK Vijay Kumar, Chief Investment Strategist, Geojit Financial Services, said the performance of the IPO market is largely linked to the performance of the secondary market. He said, “If the stock market is bullish, it attracts a large number of investors to the IPO market. Especially new investors turn to the IPO market for high potential profits.