November is set to witness a lot of action at the Indian primary markets, with several big-ticket initial public offerings set to list at the stock exchanges. From online food and grocery delivery platform Swiggy Ltd. to Sagility India Ltd., a slew of big companies are expected to launch their IPOs to raise money from the market.
The possible list includes Acme Solar Holdings, Mobikwik, NTPC Green Energy, Zinka Logistics, Avanse Financial Services and Niva Bupa Health Insurance IPO.
Here is a list of upcoming IPOs in November:
Swiggy IPO
Zomato Ltd. rival Swiggy is set to open its initial public offering for subscription between Nov. 6 and Nov. 8. According to the company’s red herring prospectus, the offer comprises a fresh issue of Rs 4,499 crore and an offer for sale of 17.5 crore shares.
While the company has increased the size of the fresh issue from Rs 3,750 crore, the offer-for-sale component size has been reduced by about 1 crore shares being offloaded now, compared to 18.5 crore shares in the earlier versions of the RHP.
Swiggy’s IPO price band is likely to be fixed at Rs 371 to Rs 390 per share. However, an official announcement is yet to be made on that front.
The company plans to use Rs 1,343 crore from the IPO proceeds to invest in its subsidiary Scootsy and expand the dark store network of Instamart.
Swiggy will invest another Rs 703 crore in technology and cloud infrastructure and Rs 1,115.3 crore for brand marketing and business promotion. It will also use about Rs 137 crore to settle its debts.
Content retrieved from: https://www.ndtvprofit.com/ipos/upcoming-ipos-in-november-2024-swiggy-acme-solar-sagility-india-ntpc-green-energy-and-more.
