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Marking a big day for IPOs, two companies — no-frills carrier IndiGo and e-retailer Infibeam — on Tuesday filed papers with Sebi to raise nearly Rs 3,000 crore in all. In a sign that the IPO market is revving up after months of subdued activity, staffing firm TeamLease also initiated the process of filing papers for raising around Rs 450 crore.
In addition, Biocon arm Syngene, Prabhat Dairy, Navkar and Catholic Syrian Bank, which have already got a nod from regulator Sebi, plan to hit the capital market in the next two-three months with IPO offers totalling nearly Rs 2,000 crore.
InterGlobe Aviation, which runs the country's biggest airline by market share under 'IndiGo' brand, plans to raise up to Rs 2,500 crore. Becoming the first e-commerce player to tap the IPO route, Infibeam plans to mop-up around Rs 450 crore.
Started in 2007, Infibeam runs several e-commerce services such as Infibeam.com, Indent, BuildaBazaar, Incept and Picsquare. Last year, Sony Music had bought a 26% stake in Indent. TeamLease Services' MD & co-founder Ashok Reddy said the company was exploring multiple options to facilitate the aggressive growth that it plans for the future.
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