Ain’t no better time to go public, and Indian firms are making the best use of the froth. 4 major bids hit the mills this week 👇
- CarTrade — applications open on Monday. The company runs a used car marketplace, as well as several online car and bike portals, and a used-car exchange for dealers to check inventory and procure vehicles. Revenues topped ₹250 crores last year, with growth softening up a bit, but CT claims it's the only “profitable” used car marketplace right now, so that’s that.
- Nuvoco Vistas — cement and construction materials player owned by the Nirma Group, that runs the 5th largest cement operation in India, and made ₹7,500 crores last year. Profitability is still weak, but success hinges on the thesis that an emerging market like India, consumption of construction supplies and real estate’s success will stay healthy in the long run.
- Aptus Value Housing Finance — one of the largest home financiers in South India, that primarily works with retail buyers. Aptus will try to raise over ₹2,800 crores from the markets. Again, fortunes are tied in with the real estate market, which depends on economic recovery.
- Lastly, Chemplast Sanmar — a specialty chemicals maker making PVC resin, supplying stuff to petrochemical, pharma, and agro-chem industries — will open bids on Tuesday. The company will try to raise ₹3,800 crores from the markets, and is backed by Billionaire-investor Prem Watsa.
Pick yo horses!