Yeh 8 approvals Sebi ki taraf se ek bada sign hai ki Indian capital markets mein kaafi activity hone wali hai. Companies sirf naya paisa uthane ke liye nahi aa rahi hain, balki apne loans kam karne, business badhane aur working capital ko manage karne ke liye bhi fund raise kar rahi hain.
Kisko Kitna Paisa Chahiye?
Ek example hai Elevate Campuses, jo ₹2,550 crore ka fresh issue la rahi hai. Isme se ₹1,100 crore woh K-12 entities aur campuses kharidne mein lagayenge, aur ₹750 crore loans chukane mein. InCred Holdings bhi apne parent entity ke through expansion plan kar rahi hai, jinka FY25 mein Assets Under Management ₹12,585 crore ho gaya hai, jo ki 39% saal-dar-saal badha hai, aur profit bhi ₹372 crore raha hai. Aarvee Engineering Consultants ne bhi debt chukane aur apne geospatial business mein invest karne ka plan banaya hai, jabki Ardee Industries ₹220 crore working capital aur debt reduction ke liye istemal karegi.
Market Ka Mood Kaisa Hai?
Filhaal India ki economy 6-7% GDP growth ke saath stable lag rahi hai aur inflation bhi control mein hai. Sebi ne haal hi mein 13 aur ab 8 IPOs ko approve kiya hai, matlab regulatory side se support mil raha hai. Lekin sabhi IPOs ek jaise nahi hain. Kuch companies jaise Elevate Campuses aur Armee Infotech pure fresh issues hain, jisme naya paisa company mein aayega. Lekin Sedemac Mechatronics ka IPO sirf Offer for Sale (OFS) hai, jiska matlab hai ki koi naya paisa company mein nahi aa raha, sirf existing shareholders ko exit mil raha hai.
Valuations bhi alag-alag sectors mein vary kar rahe hain. Fintech aur EdTech companies 30x se 60x forward earnings par trade kar rahi hain, jabki infrastructure aur industrial sectors 20x-30x aur mid-teens par hain. Toh investors ko stock choose karte waqt company ke fundamentals aur sector comparisons ko dhyan mein rakhna hoga.
Kahan Hai Risk Factor?
Sabse badi chinta yeh hai ki kai companies apna IPO ka paisa debt chukane mein laga rahi hain, matlab woh pichhle loans ko hi theek kar rahi hain, na ki pure business growth ke liye. Sedemac Mechatronics jaise OFS wale IPOs mein company ko seedha fayda nahi hoga. Financial services mein tight margins aur strict regulations hain. Aarvee Engineering Consultants jaise infra consultancy sector mein bhi kai bade players hain. Aur Ardee Industries jaise recycling business mein demand cyclical ho sakti hai aur commodity prices ka bhi asar padta hai. History bataati hai ki jab zyada IPOs aate hain, agar kuch perform nahi karte, toh poori market ka mood kharab ho sakta hai.
Aage Kya Ho Sakta Hai?
Agale kuchh mahinon mein in IPOs ka market mein kaisa response aata hai, yeh dekhega. Analysts cautiously optimistic hain, lekin sabki nazar valuations aur companies ke business plans par rahegi. Agar yeh IPOs achha perform karte hain, toh aur bhi companies aayengi. Agar nahi, toh investors aur issuers dono hi zyada careful ho jayenge.