Five Indian firms to raise a total of $3.6bn

As the Indian stock markets remain buoyant, five firms, including digital payments major Paytm’s parent One97 Communications, have planned initial public offerings in the first half of November.

The other four are PB fintech, the parent company of online insurance platform Policybazaar; Sapphire Foods India, which operates KFC and Pizza Hut outlets; decorative aesthetics supplier SJS Enterprises; and microcrystalline cellulose manufacturer Sigachi Industries. These five firms are expected to collectively raise 270 billion rupees (US$3.6 billion), Press Trust of India reports.

Meanwhile, the three-day initial share sales of online beauty products seller Nykaa and fintech firm Fino Payments Bank conclude on November 1 and November 2, respectively. Nykaa is looking to raise 53.52 billion rupees, while Fino Payments Bank is seeking to 12 billion rupees. These seven entities will raise nearly 335 billion rupees through initial share sales.

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