Despite marketwide correction IPOs still in demand

With market wide correction, it might seem like the party maybe over for IPOs, but that is not the case. There is still a handsome line up of offers in the upcoming months.

The line up for listing ranges from little known SMEs to well-known PSUs. The upcoming initial public offering (IPO) is of HG Infra Engineering Limited (HGIEL) which opens on February 26, 2018. HGIEL is Jaipur-based infrastructure construction, development and management company.

Meanwhile, the one creating buzz was the filing of draft paper by John Energy, which is backed by India's leading investor Rakesh Jhunjhunwala. The company is planning Rs. 350 crore IPO, which comprises of fresh issuance of shares and an offer for sale by the existing shareholders including India Rig Company and IL&FS Financial Services.

Also, defence PSUs Bharat Dynamics and Hindustan Aeronautics (HAL) are also expected to be listed soon. HAL is estimated to raise about Rs. 4,000 crore, while Bharat Dynamics plans to raise about Rs. 1,800 crore. Other PSUs including Mishra Dhatu Nigam, RITES, Indian Renewable Energy Development Agency (IREDA), Midhani have filed draft red herring prospectus (DRHP) with Sebi and are awaiting the regulators approval.