Investors, get ready for a busy week in the IPO market! With five new initial public offerings (IPOs) launching, there’s a range of options for those looking to diversify their portfolios. Four of these companies will be in the main market, including Swiggy, Acme Solar Holdings, Sagility India, and Niva Bupa Healthcare. The fifth IPO from Neelam Linen will debut in the SME segment. Here’s a closer look at what each company is offering and how they plan to use their IPO funds.
1. Swiggy IPO: The Food Giant’s Big Move
Swiggy, the popular food delivery and tech-driven platform, will open its much-anticipated IPO from November 6 to November 8. The price range has been set between ₹371 and ₹390 per share, with the company looking to raise around ₹11,327.43 crore. While Swiggy initially targeted a valuation of $15 billion, it has lowered this to $11.3 billion due to market conditions and the weaker-than-expected performance of Hyundai India’s IPO earlier this year.
Swiggy’s IPO will involve issuing new shares worth ₹4,499 crore, with 17.5 crore shares set aside for Offer for Sale (OFS). A substantial portion of these funds will go towards investments in Scootsi, Swiggy’s subsidiary, along with technology advancements, cloud infrastructure, branding, and business promotion. Notable investors such as BlackRock and Canada Pension Plan Investment Board (CPPIB) are reportedly showing interest in the IPO. Given Swiggy’s market presence and growth plans, many see this IPO as a promising opportunity.
2. Acme Solar Holdings IPO: A Step Towards Green Energy
Acme Solar Holdings is scheduled to open its IPO from November 5 to November 8, aiming to raise ₹2,900 crore. The company has set a price range of ₹275 to ₹389 per share. This IPO includes issuing new shares worth ₹2,395 crore, alongside an OFS of ₹505 crore by promoter shareholders.
Founded in 2015, Acme Solar focuses on renewable energy, with projects in solar power generation and green ammonia production. The company intends to use the funds to repay certain outstanding loans and for other corporate expenses. With a focus on sustainable development and green technology, Acme Solar’s IPO is expected to attract environmentally conscious investors.
3. Sagility India IPO: Healthcare at the Forefront
Sagility India, a healthcare management company, is also launching its IPO on November 5, with a set price range of ₹28 to ₹30 per share. The company aims to raise ₹2,107 crore through this offer. Notably, this IPO will solely be an Offer for Sale, meaning no new shares will be issued. Instead, Sagility BV, the sole promoter and affiliate of EQT Private Capital Asia, will reduce its stake by 15%, retaining 85% ownership post-IPO.
Sagility India won’t receive any funds directly from this IPO, as all proceeds will go to the selling shareholder, Sagility BV. The initial size of the IPO was proposed at 98.44 crore shares, but it has been scaled back to 70.22 crore shares.
4. Niva Bupa Healthcare IPO: Expanding the Health Insurance Sector
Niva Bupa Healthcare, a major player in India’s health insurance market, is set to launch its IPO from November 7 to November 11. The company plans to raise around ₹3,000 crore through the IPO, with new shares worth ₹800 crore and an OFS of ₹2,200 crore. Niva Bupa’s main shareholders, Bupa Singapore Holdings and Fettle Tone, will reduce their stakes as part of the OFS.
Funds from the new issue will be used to strengthen Niva Bupa’s capital base and cover general corporate expenses. The company’s entry into the stock market follows in the footsteps of Star Health & Allied Insurance, positioning Niva Bupa as another independent health insurer for investors looking to capitalize on the healthcare sector’s growth.
5. Neelam Linen IPO: New Opportunity in the SME Segment
Neelam Linen, the only IPO debuting in the SME segment, is generating interest among small-cap investors. Although details of the price range and share allocation are still under wraps, Neelam Linen’s IPO is expected to provide an affordable entry point into a growing segment within the textile industry. The company specializes in high-quality linen and is aiming to use the funds to expand production capabilities and distribution networks.
What This Means for Investors
With a mix of sectors represented, next week’s IPOs offer opportunities for investors across industries, from healthcare and green energy to food tech and insurance. Swiggy’s IPO, being the most anticipated, could see high demand due to its established market presence and diverse growth strategies. Meanwhile, Acme Solar and Sagility India cater to investors interested in sustainability and healthcare—sectors projected for strong growth in the coming years.
These new listings provide investors with a fresh slate of options to diversify and expand their portfolios, though it’s wise to assess each company’s fundamentals and growth potential. From Swiggy’s plans to enhance technology and logistics, to Acme Solar’s focus on green energy, each IPO brings unique value to the table. The stock market’s reaction to these offerings will be a telling indicator for the next wave of IPOs in India.
With the upcoming IPOs hitting the market soon, investors are advised to plan their finances and make informed decisions based on each company’s future outlook and sectoral trends. As the IPO season picks up, there’s ample opportunity for growth—but with it comes the importance of careful selection and a strategic approach to investing.
