Hot Upcoming IPOs to Watch

The most exciting upcoming IPOs include a celebrity clothing brand, an online marketplace and a healthcare billing platform.

IPO ahead written on yellow traffic sign with red arrow going up
(Image credit: Getty Images)

The initial public offering (IPO) market is starting to show signs of life after an awful drought that lasted roughly two years. Investors have more to look forward to, as well, with several upcoming IPOs likely to roll out over the next several months.

In 2023, the IPO market continued to be sluggish, with 108 offerings that raised $19.4 billion, according to Renaissance Capital. But this performance was much better than 2022, when escalating interest rates, the war in Ukraine and worries about inflation kept issuers at bay. That year, there were only 71 companies that went public, raising a mere $7.7 billion. It was the worst performance for IPOs in over 30 years.  

But 2024 may be when IPOs finally get back into gear. One of the most important factors is the seemingly unstoppable bull market. Investors have been buying up growth stocks, especially in red-hot categories like artificial intelligence (AI). There is also renewed interest in early stage biotech operators.  

So far this year through March 21, there have been 48 IPOs. This is up 4.8% compared to the year-ago period. And the $7.3 billion that has been raised triples what was raised over the same time frame in 2023. Among the top gainers at this point are AI infrastructure stock Astera Labs (ALAB), which surged more than 72% in its market debut. Social media stock Reddit (RDDT), meanwhile, finished its first day of trading 48% above its IPO price.

These are certainly success stories, but not all stocks head higher after an IPO. Healthcare-services provider BrightSpring Health Services (BTSG) is down more than 15% from its January 26 IPO. 

IPO market rebound could continue

While the current market for initial public offerings remains challenging, Bill Smith, co-founder and CEO of Renaissance Capital expects filings to start to pick up this spring. Indeed, we're starting to see a few more companies testing the waters, making now the best time to explore the most anticipated upcoming IPOs, provided you understand what an IPO is in the first place.

I have covered the best upcoming IPOs to watch for Kiplinger for several years now. For this list, I focused on large, more established names that should generate plenty of excitement on Wall Street and Main Street alike.

Data is as of March 21. Where possible, we have provided reported expectations for timelines and/or valuations for the upcoming IPOs.

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Tom Taulli
Contributing Writer, Kiplinger.com

Tom Taulli has been developing software since the 1980s when he was in high school.  He sold his applications to a variety of publications. In college, he started his first company, which focused on the development of e-learning systems. He would go on to create other companies as well, including Hypermart.net that was sold to InfoSpace in 1996. Along the way, Tom has written columns for online publications such as Bloomberg, Forbes, Barron's and Kiplinger.  He has also written a variety of books, including Artificial Intelligence Basics:  A Non-Technical Introduction. He can be reached on Twitter at @ttaulli.