Upcoming IPOs this week – Swiggy, Niva Bupa Health Insurance and more
Hyundai Motor India recently wrapped up the country’s biggest Initial public offering (IPO) and after a slow week during the festive season, companies have once again started lining up to raise funds from the primary market.
Four mainboard companies and one small and medium enterprise (SME) are looking to raise funds from the primary market this week. The mainboard companies include Swiggy, which will also be the biggest IPO this week.
In this post, we look at the IPOs hitting Dalal Street this week:
Sagility India
Sagility India will kick off the IPO race this week, with its IPO set to open on November 5, and will close on November 7. Sagility India is a healthcare-focused solutions and services provider, that primarily caters to the US. The company is looking to raise ₹2,106.60 crore, which is entirely an offer for sale (OFS) and does not include a fresh issue.
Swiggy
Food and grocery aggregator Swiggy is all set to go public, following the footsteps of its competitor Zomato. The company is looking to raise ₹11,327.43 crore from the primary market, which includes a fresh issue of ₹4,499 crore and an offer for sale component of ₹6,828.43 crore. The company’s IPO begins on November 6 and ends on November 8.
ACME Solar Holdings
ACME Solar Holdings, a renewable energy company that produces electricity from wind and solar is looking to raise ₹2,900 crore from the primary market, which includes a fresh issue of ₹2,395 crore and an offer for sale component of ₹505 crore. The company’s IPO begins on November 6 and ends on November 8.
Niva Bupa Health Insurance
Niva Bupa Health Insurance, a joint venture (JV) between Fettle Tone LLP and Bupa Group is set to go public, looking to raise ₹2,200 crore from the primary market, which includes a fresh issue of ₹800 crore and an offer for sale component of ₹1,400 crore. The company’s IPO begins on November 7 and ends on November 11.
SME IPO this week
Amid stricter regulations around SME IPOs, only one SME is set to raise funds this week. Neelam Linens and Garments, a soft home furnishing company is looking to raise INR 13 crore from the primary market, which is entirely a fresh issue. The company’s IPO opens on November 8 and will close on November 12.
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