A wide range of homegrown start ups are eyeing listing on the bourses. However, they are waiting for the clarification over the listing regulations overseas from the corporate affairs ministry and the revenue department. The central government is keen on making listing norms easier for the Indian Start-ups to raise funds abroad. Lets us know, which are they key players seeking listing in India or overseas:
1. Policy Bazaar IPO
Policy Bazaar, promoted by EtechAces Marketing and Consulting, is an Indian Insurance Aggregator founded in June 2008 by Yashish Dahiya, Alok Bansal and Avaneesh Nirjar. EtechAces, which houses Paisa Bazaar, may hit on primary markets with Policy Bazaar IPO.
Gurugram bases Policy Bazaar may target valuation around $3.5-billion ahead of its IPO. The insurance aggregation has the potential to become the first of India's mega-start-ups to debut as its digital economy booms.
Started as an insurance policy price comparison website, the start up has shaped itself as an insurance selling entity. The company claims to process nearly 25% of India's life insurance and over 7% of the country's retail health cover.
Policybazaar.com has so far raised US$366 million in 7 rounds of funding since its inception in 2008. Its key investors include renowned names like Softbank, Info Edge (India), Inventus Capital Partners, Premji Invest, Ribbit Capital, Steadview Capital Management, Tiger Global Management and True North amongst others.
Regulated by Insurance Regulatory And Development Authority of India (IRDAI) Policybazaar has tie-ups with insurance companies that help it procure information such as price, benefit, insurance cover etc. directly from over three dozen insurers. Users can hop on the Policy Bazaar portalor app to research, compare and buy insurance policies. Policybazaar has companies, who offer car insurance, health insurance, life insurance, corporate insurance and travel insurance, as its business partners. The company is registered as an insurance web aggregator under the Insurance Web Aggregator Regulations, 2017.
2. BYJUs IPO
Kerala born Byju Raveendran, who is the son of teacher parents, founded India's largest EdTech startup Byju's in 2011. This rapidly growing superlative valuation of $11.1 billion. The hefty valuation put Raveendran on 72nd spot in the list of top 100 billionaires of India.
As of 2019, Byju's had secured nearly $785 million in funding from some of the top notch investors, including Sequoia Capital, Chan Zuckerberg Initiative (CZI), Tencent, IFC and General Atlantic. Byju's was the first company in Asia to receive an investment from Chan-Zuckerberg Initiative (co-funded by Facebook founder Mark Zuckerberg and Priscilla Chan).
Byju's, an education tutoring app, runs on a freemium model. It offers education content for class 1 to 12. It also trains students for examinations in India such as IIT-JEE, NEET, CAT, IAS and international examinations such as GRE and GMAT.
Academic subjects and concepts are explained with 12-20 minute digital animation videos. Byju's reports to have 4 crore users overall, 30 lakh annual paid subscribers and an annual retention rate of about 85%. Company will soon launch content in regional languages.
3. Flipkart IPO
Former Amazon employees and IIT alumni Sachin Bansal and Binni Bansal incorporated Flipkart in October 2007. However, the Bansal duo has exited the company after 81% stake of the entity was acquired by U.S.-based retail chain Walmart for US$16 billion, valuing Flipkart at around $20 billion.
Banglore (India) headquartered and Singapore registered e-commerce company initially focused on online book sales before expanding into other product categories such as consumer electronics, fashion, home essentials, groceries, and lifestyle products. It competes with international giants like Amazon and domestic competitors like Snapdeal.
Singapore’s sovereign wealth fund, GIC, Accel Partners, Tiger Global, DST Global, ICONIQ Capital, Morgan Stanley Investment Management and Sofina are some of the key investors in the company. The leading e-commerce marketplace of India is now valued at $25 billion. The company management is likely to raise funds via primary offering soon.
4. Oyo Rooms IPO
This domestic living space start up was mainly focused on budgeted accommodation and hotels in the initial years, but now operates as an Indian hospitality chain of leased and franchised hotels, homes and living spaces. It was founded by Ritesh Agarwal in 20013, who later on became India's youngest billionaire. Agarwal now serves as the CEO of the company.
After undertaking months of research and staying in various bed and breakfast homes, guest houses, and small hotels across India, Agarwal renamed his venture from Oravel to Oyo Rooms in 2013.
It has expanded globally serving countries including, Malaysia, UAE, Nepal, China, Brazil, Mexico, UK, Philippines, Japan, Saudi Arabia, Sri Lanka, Indonesia, Vietnam and the United States, alongside India.
Despite the Covid-19 pandemic wreaking havoc on the travel and tourism industry, Oyo Rooms is a decade-old company. Its key investors include Star Virtue Investment, SoftBank, Didi Chuxing,, Greenoaks Capital, Sequoia Capital, Lightspeed India, Hero Enterprise and Airbnb.
5. NYKAA IPO
Nykaa is an Indian lifestyle marketplace for beauty, wellness, and fashion products, incorporated in 2012 by Falguni Nayar, an alma mater of Indian Institute of Management (Ahmedabad) and former MD of Kotak Mahindra Capital.
The company has expanded from online-only to an omnichannel model to sell the products. The unicorn startup is expected to hit with an IPO, valuing company around $3 billion. Mumbai headquartered startup has warehouses in Delhi, Mumbai and Bangalore. It claims to have over 3 lakh products across 1,500 brands.
Nykaa has raised money through multiple rounds of funding. Its key investors include private equity funds like Steadview Capital, Fidelity Management and Lexdale International. B-town beauties like Alia Bhatt and Katrina Kaif have invested an undisclosed amount in the company.
6. ZOMATO IPO
Zomato started as a restaurant aggregator, but later on strengthened its roots in food delivery as well. Founded as Foodiebay in 2008, it was renamed as Zomato in early 2010. It also began grocery delivery amid the COVID-19 outbreak to cover for lost business. The start-up was founded by Pankaj Chaddah and Deepinder Goyal in 2008.
As of 2019, he serves customers in over a couple of dozen nations and more than 10,000 cities. The company operates in countries like the United Arab Emirates, Sri Lanka, Qatar, United States, United Kingdom, Philippines, South Africa, New Zealand, Turkey, Brazil and Indonesia, Canada and Ireland.
BSE and NSE listed company Info Edge owns over 58% stake in Zomato. The parent company is likely to unlock value of Zomato , setting its sights on Zomato IPO by June-2021. Sequoia Capital, Tiger Global Management, Ant Financial, Baillie Gifford, Luxor Capital, Kora Capital are other key stakeholders of the company.
7. Grofers IPO
Domestic online delivery startup Grofers was founded in December 2013 by Saurabh Kumar and Albinder Dhindsa. Gurugram based company is anticipated to go public in the last quarter of 2021 or early 2022.
The unicorn start up company has raised about $535.5 million from investors including SoftBank, Tiger Global and Sequoia Capital. Currently, Grofers has 10,000 partner stores to run a fast and lean supply chain from manufacturers straight to consumers.
Grofers currently operates in 29 cities namely Delhi, Mumbai, Bangalore, Pune, Jaipur, Chennai, Hyderabad, Kolkata, Lucknow, Aligarh, Agra, Ahmedabad, Gurugram, Noida, Ghaziabad, Kanpur and Faridabad. The company gained significant market share during the pandemic enforced lockdown.
8. Delhivery IPO
Delhivery is an Indian delivery and supply chain company, founded in 2011 by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan, and Kapil Bharati. The company offers logistics services to a number of e-commerce companies,
According to some media reports, the company is expected to go public in next 12-15 months, valued at $3.5-4 billion. The company is backed by the Softbank Carlyle Group, Tiger Global, Steadview Capital, Fosun International, Nexus Venture Partners amongst the others.
Gurugram-based Delhivery covers 2,300 cities providing a full suite of logistics services such as express parcel transportation, LTL and FTL freight, reverse logistics, cross-border, B2B and B2C warehousing, and technology services.
Delhivery has fulfilled over 800 million transactions since inception and currently works with over 10,000 direct customers, including large and small e-commerce participants, SMEs, and over 450 enterprises and brands.