Delhi-NCR is poised to witness a flurry of activity in the IPO market this December, with three companies – Juniper Hotels, Park Medi World, and Innovatiview – planning to raise a combined total of approximately Rs 6,260 crore. This comes amidst a broader expectation of a busy period for IPOs, with as many as 28 firms aiming to raise around Rs 48,000 crore (approximately $5 billion) in December.

Juniper Hotels

Juniper Hotels, a luxury hotel development and ownership company co-owned by Saraf Hotels and an affiliate of Hyatt Hotels Corporation, is planning to raise ₹1,800 crore through a fresh issue of shares. The IPO is a book-building issue, with a price range of ₹342 to ₹360 per share. Investors can bid for a minimum lot size of 40 shares. The company intends to utilize the net proceeds to repay or prepay certain outstanding borrowings and for general corporate purposes. As of September 30, 2023, Juniper Hotels owns 20% of the total 1,836 Hyatt-affiliated keys in India. Their hotels and serviced apartments are classified under three categories: luxury, upper upscale, and upscale. The IPO will see 75% of shares reserved for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors.

Park Medi World

Park Medi World, the second-largest private hospital chain in North India, is set to launch an IPO with a total offer size of up to ₹1,260 crore. This comprises a fresh issue of shares worth ₹960 crore and an offer for sale (OFS) of ₹300 crore. As of September 30, 2024, Park Medi World operates 13 NABH-accredited multi-super specialty hospitals under the 'Park' brand, with a total bed capacity of 3,000. It also holds the largest private hospital network in Haryana, with 1,600 beds across the state. The company offers over 30 specialty and super-specialty services. The company intends to use the IPO proceeds for repayment of borrowings, funding capital expenditure for new and existing hospitals, purchasing medical equipment, and unidentified inorganic acquisitions. The book running lead managers for the IPO are Nuvama Wealth Management Limited, CLSA India Private Limited, DAM Capital Advisors Limited, and Intensive Fiscal Services Private Limited.

Innovatiview India

Noida-based Innovatiview India, a technology-driven company providing integrated security and surveillance solutions, plans to raise ₹2,000 crore through an initial public offering. The IPO is entirely an offer for sale (OFS) of equity shares by promoters. The company will not receive any funds from the issue, and the proceeds will go to the selling shareholders. Innovatiview primarily focuses on examination, election, and public event management across India. As of September 30, 2024, the company held the largest market share (73.7%) in India for examination integrated security solutions in terms of revenue in FY24. For FY24, Innovatiview posted a revenue of Rs 638 crore and a profit after tax of Rs 196.72 crore. The company's clientele includes the National Testing Agency. DAM Capital Advisors Limited, ICICI Securities Limited, and JM Financial Limited are among the lead managers for the IPO.

These IPOs from Delhi-NCR-based companies reflect a vibrant primary market and growing investor confidence. Several other major IPOs are expected in December, including ICICI Prudential AMC, Meesho, Clean Max Enviro Energy, and Milky Mist.