New Delhi: Indian startups have gone through many transformations in the last few years. Many startups have gone bankrupt, while others have become unicorns. Among them are food delivery giants and electric vehicle leaders. These startups are using technology to grow and stand out in their fields. Here are some of the top 9 companies that have unveiled their IPOs or are planning their IPO debut for the year 2024.
- Swiggy (Bundl Technologies)
Valuation: ₹50,000-60,000 crore
Swiggy is an Indian online food ordering and delivery company. Founded in 2014, Swiggy is headquartered in Bangalore and operates in more than 580 Indian cities, as of July 2023. Besides food delivery, the platform also provides quick commerce services under the name Swiggy Instamart, and same-day package deliveries with Swiggy Genie. It rivals homegrown startup Zomato in food delivery and hyperlocal marketplace.
Swiggy IPO is a book-built issue of Rs 11,327.43 crores. The issue is a combination of a fresh issue of 11.54 crore shares aggregating to Rs 4,499.00 crores and an offer for sale of 17.51 crore shares aggregating to Rs 6,828.43 crores. Swiggy IPO bidding started on November 6, 2024, and ended on November 8, 2024. The allotment for Swiggy IPO was finalized on Monday, November 11, 2024. The shares were listed on BSE, and NSE on November 13, 2024.
USP: Super-easy food delivery with services like grocery delivery through Instamart and errand deliveries through Genie.
Future: Scaling into Tier-II/III cities, fueling quick commerce, and will break into profitability in food delivery business.
2. Ola Electric
Valuation: ₹40,000-50,000 crore
Ola Electric Mobility is an Indian electric vehicle manufacturer company founded in 2017 by Bhavish Aggarwal. Headquartered in Bangalore, Karnataka, the company designs and manufactures electric two-wheelers, including the Ola S1 in three variants named Ola S1 Air, Ola S1X, and S1 Pro. It has its manufacturing facility located in Krishnagiri, Tamil Nadu. The company also produces battery cells at its manufacturing facility in Tamil Nadu, which supplies energy storage solutions for its vehicles and other applications. As of 2023, the company led the electric scooter market in India, with a 30% share. It also plans to launch its electric motorcycle models in 2025.
Ola Electric IPO bidding started on August 2, 2024, and ended on August 6, 2024. The allotment for Ola Electric IPO was finalized on Wednesday, August 7, 2024. The shares were listed on BSE and NSE on August 9, 2024. The Ola Electric IPO price band is set at ₹72 to ₹76 per share. The minimum lot size for an application is 195.
USP: Affordable and stylish electric scooters with cutting-edge technology.
Future: Plans to make electric motorcycles, cars, and expand globally while leading India’s green mobility push.
3. Ixigo
Valuation: ₹3,000-4,000 crore
Ixigo is an Indian online travel portal headquartered in Gurgaon. Launched in 2007, Ixigo aggregates real-time travel information, prices, and availability for flights, trains, buses, and hotels and allows ticket booking through its associate websites and apps.
Ixigo IPO bidding started on June 10, 2024, and ended on June 12, 2024. The allotment for Ixigo IPO was finalized on Thursday, June 13, 2024. The shares were listed on BSE and NSE on June 18, 2024. The Ixigo IPO price band is set at ₹88 to ₹93 per share. The minimum lot size for an application is 161.
USP: Travel made simple and affordable with AI-based personalized suggestions.
Future: Expanding the travel services, focusing on smaller towns, and adding features like travel insurance and customized holiday packages.
4. FirstCry
Valuation: ₹2,500-3,500 crore
FirstCry is an online-cum-offline brand providing a wide range of products for babies, kids, and moms. The startup was born out of a desire to solve the problem of millions of parents in India not having access to the best brands and baby care products for their offspring. The product categories at firstcry.com comprise diapering, feeding and nursing, skin and health care, toys, clothes, footwear, fashion accessories, and much more.
Brainbees Solutions (Firstcry) IPO is a book-built issue of Rs 4,193.73 crores. The issue is a combination of a fresh issue of 3.58 crore shares aggregating to Rs 1,666.00 crores and an offer for sale of 5.44 crore shares aggregating to Rs 2,527.73 crores. Brainbees Solutions (Firstcry) IPO bidding started on August 6, 2024, and ended on August 8, 2024. The allotment for Brainbees Solutions (Firstcry) IPO was finalized on Friday, August 9, 2024. The shares got listed on BSE, and NSE on August 13, 2024.
USP: One-stop shop for all baby and kids’ needs, with both online and offline options.
Future: Global market expansion, increasing private-label products, and more stores in smaller cities.
5. Digit Insurance
Valuation: ₹2,000-3,000 crore
Go Digit General Insurance Company was established in 2016, and its headquarters is in Bengaluru. This insurance company is one of the newest Indian retail insurance companies, offering all insurance policies like Health Insurance, Motor Insurance, Fire Insurance, Cyber Insurance, Marine Insurance, Liability Insurance, etc. Go Digit General Insurance Company Limited is a subsidiary of Go Digit Infoworks Services Private Limited. Go Digit IPO bidding started on May 15, 2024, and ended on May 17, 2024. The allotment for Go Digit IPO was finalized on Tuesday, May 21, 2024. The shares were listed on BSE and NSE on May 23, 2024. The Go Digit IPO price band is set at ₹258 to ₹272 per share. The minimum lot size for an application is 55.
USP: Easy, paperless insurance with fast claim approvals.
Future: Plans to launch more insurance options, streamline claims processing, and expand its market share in motor and health insurance.
6. MobiKwik
Valuation: ₹1,500-2,500 crore
Digital transactions and the usage of mobile wallets are now a reality. Easy, hassle-free payments without having to hunt for change every time you purchase something are some major benefits of using a mobile wallet. While many international players are providing mobile wallet services in India today, MobiKwik is one of the pioneer Indian mobile wallet companies, which despite the raging competition in the sector, has carved a niche for itself.
Founded by the husband-wife duo, couple Bipin Preet Singh and Upasana Taku, MobiKwik has a unicorn valuation and is looking to go public anytime soon. Mobikwik IPO is a book-built issue of Rs 572.00 crores. The issue is entirely a fresh issue of 2.05 crore shares. Mobikwik IPO bidding started on December 11, 2024, and ended on December 13, 2024. The allotment for Mobikwik IPO was finalized on Monday, December 16, 2024. Mobikwik IPO will be listed on BSE, NSE on December 18, 2024.
USP: Quick digital payments with Buy Now Pay Later (BNPL) and cashback rewards.
Future: Scaling up BNPL services, covering rural areas, and including financial products such as microloans and investments.
7. Uni Commerce
Valuation: ₹1,000-2,000 crore
Incorporated in 2012, Unicommerce is India’s largest e-commerce enablement SaaS platform in transaction processing in terms of revenue for the financial year ended March 31, 2022, that enables end-to-end management of e-commerce operations for brands, sellers, and logistics service provider firms. Our comprehensive suite of SaaS products acts as the nerve center for e-commerce fulfillment operations for businesses and allows them to manage inventory across multiple locations, minimize fulfillment costs, process orders for multiple online and offline channels, manage returns, generate correct invoices, reconcile order payments, shipment tracking for customers, taxation and other regulatory compliances.
Unicommerce eSolutions IPO is an issue of Rs 276.57 crores. The issue is entirely an offer for the sale of 2.56 crore shares. Unicommerce eSolutions IPO bidding started on August 6, 2024, and ended on August 8, 2024. The allotment for Unicommerce eSolutions IPO was finalized on Friday, August 9, 2024. The shares got listed on BSE, and NSE on August 13, 2024.
USP: Smart tech for managing e-commerce operations and logistics.
Future: Plans to serve more D2C brands, expand internationally, and use AI to provide better insights and analytics.
8. Awfis
Valuation: ₹500-1,000 crore
Awfis Space Solutions Ltd. (‘Awfis’) is the largest flexible workspace solutions company in India based on the total number of centers (as of December 31, 2023). We provide a wide spectrum of flexible workspace solutions ranging from individual flexible desk needs to customized office spaces for start-ups, small and medium enterprises (“SMEs”), large corporations, and multinational corporations. Our flexible workspace solutions cater to varied seat cohorts ranging from a single seat to multiple seats, which our clients can contract for a period ranging from one hour to several years.
Over time, we have evolved from a co-working space to an integrated workspace solutions platform. Awfis Space Solutions IPO bidding started on May 22, 2024, and ended on May 27, 2024. The allotment for Awfis Space Solutions IPO was finalized on Tuesday, May 28, 2024. The shares were listed on BSE and NSE on May 30, 2024. The Awfis Space Solutions IPO price band is set at ₹364 to ₹383 per share. The minimum lot size for an application is 39.
USP: Flexible coworking spaces with tech-friendly solutions.
Future: Expansion to smaller cities, partnerships with real estate companies, and more tech-driven workspace solutions for hybrid work models.
9. Bluestone
Valuation: market cap undeterminable at present.
Established in 2011, BlueStone is India’s leading destination for high-quality fine jewelry with strikingly exquisite designs. We aim to revolutionize the fine jewelry and lifestyle segment in India with a firm focus on craftsmanship, quality, and customer experience. In a short period, BlueStone has built a large family of loyal consumers in India and abroad. We house more than 8000 unique designs for you to choose from. All these designs are crafted to perfection with utmost care giving you the flexibility to customize the product’s gold purity and color or diamond clarity to suit your needs.
Bluestone has shown impressive growth in recent years, underpinned by its robust omnichannel strategy. For the quarter ending June 2024, the company reported revenue of Rs 348.2 crore from operations as reported by CNBC. However, the company also incurred a loss of Rs 59.2 crore during the same period. Despite this, Bluestone’s performance in the previous fiscal year (FY24) saw a remarkable 64% year-on-year growth in revenue, which surged from Rs 771 crore in FY23 to Rs 1,266 crore.
USP: Designers’ quality customized, tastefully tailored jewelry.
Future: Opening more stores, expanding its online-to-offline model, and going international to gain international customers.
