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19 Nov 2024
India's primary market is gearing up for a flurry of IPOs from around twelve consumer-oriented companies this year, as executives from these firms aim to leverage the country's robust growth potential.
These companies include Hindustan Coca-Cola Beverages (HCCB), CG Foods, Allied Blenders & Distillers, Urban Tots, Cremica Food Industries Ltd, Patel's R Mart, P.N. Gadgil (PNG) Jewellers, Baazar Style Retail Ltd, Unicommerce eSolutions, One Mobikwik Systems, and Swiggy, all of which have either filed draft red herring prospectuses (DRHPs) or are in discussions with bankers for public listings.
Cremica Food, for instance, plans to raise over Rs 500 crore through its IPO, highlighting optimism in sectors like branded foods and HORECA (hotels, restaurants, and catering) following a resurgence post-Covid.
Meanwhile, Allied Blenders and Distillers has secured SEBI's approval to raise Rs 1,500 crore, emphasizing India's rapid growth in the alcoholic beverages market driven by rising incomes and urbanization.
Industry leaders remain bullish on the potential for IPOs, citing untapped growth opportunities across various consumer segments.
Retailers like Patel Retail and PNG Jewellers, along with service providers such as Unicommerce eSolutions and One Mobikwik Systems, are also poised to enter the market, reflecting broad-based interest in India's consumer-driven economy.
Market analysts foresee sustained bullish sentiment supported by macroeconomic stability and government initiatives, with expectations of continued growth in FMCG stocks driven by rural demand and favorable monsoon forecasts.
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