After a quiet week, the primary market is set to see a lot of action starting from November 4, with four big IPOs launching, including the highly anticipated Swiggy IPO. Alongside these, there will be one public issue from the SME segment.
This optimism comes despite Dalal Street experiencing a bearish phase since October. The benchmark Nifty 50 index has dropped 7.5% from its September 27 peak, affected by weaker-than-expected September quarter earnings, foreign investment shifting from India (due to high valuations) to cheaper markets like China, and geopolitical tensions in the Middle East. Despite the downturn, six mainboard companies, including Hyundai Motor India’s big IPO, closed successfully in October, raising a total of Rs 38,700 crore.
November is expected to be similar, as Swiggy’s IPO, the second-largest IPO of this year, is set to open next week and is expected to give a strong start to the new trading year, Samvat 2081. In Samvat 2080, 85 companies in the mainboard segment raised Rs 1.21 lakh crore through IPOs. In the first week of Samvat 2081, four companies aim to raise Rs 18,534 crore, which is about 15% of last Samvat’s total.
Sagility India IPO Healthcare services provider Sagility India will be the first to open its IPO on November 5, aiming to raise Rs 2,107 crore. The price per share has been set at Rs 28-30, and the IPO will close on November 7. This IPO is solely an offer-for-sale of 70.2 crore shares by its promoter, Netherlands-based Sagility BV, affiliated with global investment firm EQT Private Capital Asia. Earlier, the promoter raised Rs 366 crore by selling a 2.61% stake to nine institutional investors on October 30-31.
Swiggy IPO Next in line is Swiggy, India’s second-largest food delivery company, which will open its IPO for subscription on November 6. The price range is Rs 371-390 per share, and the IPO aims to raise Rs 11,327 crore. This offer includes fresh equity shares worth Rs 4,499 crore and an offer-for-sale of 17.5 crore shares worth Rs 6,828.4 crore at the top price band. The subscription will close on November 8, and after this, Swiggy will become the second listed company in the food delivery sector, after Zomato.
ACME Solar Holdings IPO ACME Solar Holdings, a leading producer of wind and solar power in India, will launch its Rs 2,900-crore IPO on November 6, with a price range of Rs 275-289 per share. This IPO includes a fresh issue of Rs 2,395 crore worth of shares and an offer-for-sale of Rs 505 crore by its promoter, ACME Cleantech Solutions. The subscription will close on November 8.
Niva Bupa Health Insurance IPO Niva Bupa Health Insurance will be the fourth IPO, opening on November 7 and closing on November 11. This Rs 2,200-crore IPO includes a fresh issue of Rs 800 crore and an offer-for-sale of Rs 1,400 crore by promoters Bupa Singapore Holdings and True North-owned Fettle Tone LLP. The price range for the shares will be announced soon. After listing, Niva Bupa will be the fourth health insurer on the market, alongside Star Health, ICICI Lombard, and New India Assurance.
Neelam Linens and Garments IPO The only IPO from the SME segment next week will be from Neelam Linens and Garments, a home furnishing company. This Rs 13-crore IPO will open on November 8 and close on November 12, with a price range of Rs 20-24 per share.
Upcoming Listing Afcons Infrastructure, part of the Shapoorji Pallonji group, will debut on the market on November 4. The company raised Rs 5,430 crore in its IPO, but due to lower-than-expected subscription levels (2.63 times), experts predict its stock may open flat to slightly negative. The issue price has been set at Rs 463 per share.
Disclaimer: The investment tips and opinions shared here are based on information from various website such as Moneycontrol.com. Investors should consult certified financial advisors before making investment decisions.