IPOs Next Week:There will be a lot of activity in the IPO market next week. During this period, 4 mainboard and one SME issue are going to open for investors. Swiggy’s most awaited IPO in the mainboard segment is about to open for subscription. Apart from Swiggy, IPOs of Xmi Solar Holdings, Sajility India and Niva Bupa Healthcare will also come in the same segment. Whereas in the SME segment, the IPO of Neelam Linens and Garments is opening. The week starting from Monday, November 4 is bringing good opportunities for investors, especially for those who are looking for new possibilities in the stock market. You can check the details of the public offerings opening in the IPO market next week one by one here.
Swiggy IPO
Swiggy’s much-awaited IPO is going to open on November 6, and investors can bid for shares till November 8. The company has fixed the IPO price at ₹371 to ₹390 per share. The company has increased its new stake in the IPO to ₹4,499 crore, while 17.5 crore shares will be sold under Offer for Sale (OFS).
Swiggy has kept its valuation at $11.3 billion, down from the earlier target of $15 billion. This valuation has been reduced due to market fluctuations and weak debut of Hyundai India. The food delivery company will use the IPO proceeds to invest in its subsidiary Scootsi, invest in technology and cloud infrastructure, and brand marketing and business promotion. All this will be done over a period of four to five years.
Major funds such as BlackRock and Canada Pension Plan Investment Board (CPPIB) are likely to invest in this IPO. This will be the second largest stock offer of this year. Through this IPO, Swiggy is planning to further strengthen its business and is presenting a good opportunity for investors.
Acme Solar Holdings IPO
Xmi Solar Holdings has set the price range of ₹275 to ₹389 for its IPO. This IPO is opening on 5th November and will be available for subscription till 8th November. In this IPO, new shares worth ₹ 2,395 crore will be issued, along with an offer for sale (OFS) worth ₹ 505 crore. Overall, the value of this IPO will be ₹2,900 crore. The company will use the funds raised from this IPO to repay certain outstanding loans and for other general corporate purposes. The money received from OFS will be received by the promoter shareholders. Xmi Solar Holdings is an Indian power generation company, which was established in June 2015. The company focuses on renewable energy sources and aims to promote clean energy solutions in India, thereby achieving net zero emissions. The company specializes in the latest green technologies including the production of green ammonia. Through this IPO, the company is planning to further strengthen its business and is presenting a good opportunity for investors.
Sagility India IPO
Sagility India, a healthcare provider, will launch its initial public offering (IPO) of Rs 2,107 crore on November 5. The price of its shares has been fixed between Rs 28 to Rs 30 per share. In this IPO, 70.22 crore shares will be sold, which will be done by Sagility BV, and no new shares will be issued in it. All proceeds, excluding expenses, will go to the selling shareholder, and Sagility India will not receive any money from the issue. The size of the IPO has been reduced to 70.22 crore shares as compared to the earlier proposed 98.44 crore shares. Sagility BV, an affiliate of EQT Private Capital Asia, is the sole promoter of the Bengaluru-based company and will reduce its stake by 15% to 85% post-IPO.
Niva Bupa Healthcare IPO
The IPO of Niva Bupa Healthcare is opening next week from 7th November. The insurance company plans to raise approximately Rs 3000 crore through the upcoming issue, i.e. the size of the IPO of Niva Bupa Healthcare is Rs 3000 crore. In which new shares worth Rs 800 crore will be issued and Offer for Sale (OFS) worth Rs 2200 crore will be included. This issue will be open for subscription from 7th November to 11th November. The price band of IPO will be announced soon. It is being told that under OFS in this IPO, Bupa Singapore Holdings and Fettle Tone will sell their stake. The insurance company will use the funds raised from the new issue to strengthen its capital base and for general corporate expenses. Niva Bupa is the second independent health insurance company to enter the Indian stock market through an IPO, after Star Health & Allied Insurance Company had done so.
