IPOs worth around ₹7,000 crore to open in November first week

• Policybazaar, Sigachi Industries and SJS Enterprises are all set to open their IPOs next week.
• All three IPOs will open on November 1 and close on November 3.
• Overall, the three companies are looking to raise about ₹6,634 crore in three days of bidding process.

Initial public offerings (IPOs) season is back with a bang as three companies are set to open their bidding process for public listing.

Policybazaar, Sigachi Industries and SJS Enterprises are looking to altogether raise ₹6,634 crore in the first week of November. All three IPOs will open on November 1 and close on November 3.

At the same time, the beauty and fashion ecommerce company Nykaa worth ₹5,352 crore issue size is opening its IPO tomorrow, October 28, which will close on November 3.

Meanwhile, investors are awaiting announcement on IPO dates of fintech players Paytm, MobiKwik and edible oil maker Adani Wilmar, which may also open in November.

PolicyBazaar

PB Fintech, the parent company of online fintech marketplaces PolicyBazaar and PaisaBazaar, is coming with an IPO next week. The issue size of the IPO is ₹5,709 crore consisting of a fresh issue of ₹3,759 crore and an offer for sale of ₹1,959 crore by its existing shareholders

PB Fintech has built two of the largest platforms for insurance and lending products through PolicyBazaar and PaisaBazaar. PolicyBazaar is one among a slew of tech IPOs to hit the Indian exchanges this year. It is also one of the country’s top fintech startups ⁠— the other one being Paytm ⁠— going for a public issue soon. 95% of PolicyBazaar’s revenue comes from commissions from insurance companies on selling policies.

Sigachi Industries

The Hyderabad-based manufacturer of cellulose-based excipients, Sigachi Industries, is looking to raise ₹125.43 crore by selling 76.95 lakh shares. The company is engaged in the manufacturing of microcrystalline cellulose, the polymer that is widely used for finished dosages in the pharmaceutical industry.

It operates through three manufacturing units in Hyderabad and Jhagadia, Dahej located in Gujarat. The proceeds from the issue will be used for expansion of production facilities of MCC at Dahej and Jhagadia in Gujarat.

SJS Enterprises

SJS Enterprises, one of the leading players in the Indian decorative aesthetics products industry, will also open its IPO alongside PolicyBazaar and Sigachi Industries on November 1. The IPO consists of a pure offer for sale of ₹710 crore by Evergraph Holdings Pte and ₹90 crore by KA Joseph. Currently, Evergraph Holdings and KA Joseph hold 77.86% and 20.74% stake in the company, respectively.

It also manufactures a wide range of aesthetics products that cater to the requirements of the commercial vehicles, medical devices, farm equipment and sanitary ware industries. The company's manufacturing facilities are located in Bengaluru and Pune.

IPO details of all three companies are the same:

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