The startup IPO market is thriving more than ever. Three significant names in the domestic startup industry are set to make their debut on the bourses this week: Ola Electric, FirstCry, and Unicommerce.
Ola Electric is the market leader to keep an eye on. The startup's public offering, billed as the country's first EV IPO, went live late last week and was 35% subscribed on the first day. However, much of the activity will take place this week, as Ola Electric aims to raise INR 6,145.6 Cr (at the top end of its INR 72-76 pricing band) by the conclusion of its IPO on August 8.
Meanwhile, FirstCry and Snapdeal-backed SaaS firm Unicommerce will begin trading on August 6 and end on August 8. While FirstCry intends to raise INR 4,193 crore through a public offering, Unicommerce (which just has an OFS component) intends to provide its investors INR 276 crore in exit.
The influx of public offerings comes at a time when investors are optimistic about new-age technology businesses with excellent fundamentals. While FirstCry and Unicommerce are likely to attract a large number of investors due to their substantial gains in FY24, Ola Electric's IPO may face some turbulence given the EV major's significant losses during the time.
Additionally, continuing tensions in the Middle East may have an impact on the result of these listings. Nonetheless, these firms have a solid foundation to build on, since startups such as Awfis, TBO Tek, and ixigo, among others, have had a successful listing on the bourses.
