Around 18 unicorns to hit street with $11-12 bn IPOs in 2 years: Bofa

• ByAyushi Ray     |    September 1, 2021

According to Bofa, around 18 unicorns to hit street with $11-12 bn IPOs in 2 years. The fast swelling unicorn universe in the startup ecosystem is set to witness a flurry of share sales as around 18 large startups are set to hit primary markets to raise USD 11-12 billion over the next 24 months, according to a Wall Street brokerage. The domestic startups have created around 60 unicorns, having USD 1 billion valuations or more, and 20 of them this year alone. Many reports predict that the number will cross the 100-mark this year, going by the massive fund inflows into startups. According to the industry report, 18 unicorn heavyweights like online education major Byju’s, e-commerce giant Flipkart, digital payments leader Paytm, ride-hailing app Ola, and hotel and room aggregator Oyo is planning to tap the IPO market over the next 24 months.

Then there are companies like online insurance retailer Policybazaar, furniture retailer Pepperfry, tech player Inmobi, online grocery delivery player Grofers, payment app Mobikwik, Saas-based solutions Freshworks, online fashion and apparel brand Nykaa, merchant platform Pinelabs that provides financing and last-mile retail transaction technology; pharma retailer Pharmeasy, online grocery delivery platform Delhivery; Droom, and Tracxn, among others, are set to hit the market over the next two years. Of these, Paytm (Rs 16,600 crore issue), Ola (Rs 11,000 crore issue on Monday), Policybazzar (filed for a Rs 6,000 crore IPO), Mobikwik (Rs 1,900 crore issue that opens next month), and Nykaa (Rs 4,000 crore) have already filed for IPOs earlier this month.

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