The Indian companies which had to delay their IPO plans

The ongoing Russia-Ukraine war is amongst the main global factors that have impacted the IPO plans of many Indian start-ups and companies, including the US Federal Reserve tightening of the monetary policy, the threat of new Covid wave and share market volatility. It is also suspected that India's Life Insurance Corporation (LIC) has delayed its IPO plans due to the volatile market because of the Russia-Ukraine war. Various companies are waiting for the LIC IPO to get out of the way are reportedly postponing their IPO plans. Some of them are listed below: 

1) GoFirst: Due to the Omicron variant and various travel restrictions globally, the Nusli Wadia group had temporarily paused its Rs 3,600 crore initial public offering (IPO) plan. While discussing the IPO plan with the bankers, they recommend the company cease its IPO launch; for now, it's likely to be delayed further. 

2) MobiKwik: Due to the unstable global market situation, the company has decided not to go ahead with its IPO for the next few months. As per the Business Insider report, the co-founder of MobiKwik, Upasana Taku, stated that the volatile market conditions hold the possibility of extension due to the ongoing Russia-Ukraine war and its impossible for any fintech company to issue the IPO anytime soon. 

3) Delhivery: The company has delayed its around $1billion IPO to the next fiscal year, starting in April. As per Money Control, the reason is a volatile market. The company is also reviewing its listing plan after SEBI frowned on a planned sale of a substantial number of the shares in the IPO. 

3) Oyo: SEBI has not approved the $1.2 billion Oyo IPO. The management bankers of the Oyo are not in a rush, and they are taking their own time to reply to the regulator's queries, due to which the listing is slowing down as per Economic Times. 

4) Pharmeasy: The parent company API of Pharmeasy received the SEBI approval to raise Rs 6,250 crore through the IPO. However, rumours state a potential delay in the IPO, which is a readjustment in the valuation and the grey market indicators. It reported that the e-pharmacy was reconsidering its IPO amid the ongoing market volatility, especially in the Indian tech stocks. 

5) Life Insurance Corporation: The mega IPO is also postponing its IPO due to the Russia-Ukraine war. The delay could be a few months or a year following the reports. The LIC filed for the country's biggest-ever public offering of nearly Rs 63,000 crores. The government will sell its 5 per cent ownership in the company. Investors are waiting for the IPO date to be declared. 

6) Druva: California-based software-as-a-service provider founded in India, where it still performs the bulk of its operations, has delayed its IPO due to volatile market situations.

Also Read: LIC issues important notice to its policyholders and customers

Also Read: Petrol and diesel prices remain same across metro cities

Also Read: Not only Paytm, 18 D-St stocks that have tumbled 40-65%

• Covid
• Covid-19
• Delhivery
• Druva
• GoFirst
• IPO
• India
• Indian start-up
• LIC
• MobiKwik
• Omicron
• Oyo
• Pharmeasy
• Russia
• Russia-Ukraine crisis
• Russia-Ukraine war
• Ukraine
• companies