The primary market is set to see significant activity beginning November 4, with four mainboard IPOs, including the anticipated Swiggy IPO, scheduled to be launched on Dalal Street. Additionally, the SME segment will have one IPO opening next week.
In October, the Indian stock market faced a substantial sell-off, with the Nifty 50 index dropping 7.5% from its all-time high due to record foreign institutional investor (FII) outflows, disappointing Q2 earnings, and rising geopolitical tensions in the Middle East. Despite this challenging environment, the primary market remained abuzz, with six mainboard IPOs launched last month, including the ₹27,870.16 crore Hyundai Motor India IPO — India’s biggest IPO till date.
Looking ahead, the list of upcoming IPOs next week includes four mainboard companies and one SME IPO aiming to raise funds in the first week of Samvat 2081. Additionally, Afcons Infrastructure Ltd., an engineering and construction company owned by the Shapoorji Pallonji Group, will also make its stock market debut.
Here’s a closer look at the upcoming IPOs next week.
Sagility India IPO will open for subscription on Tuesday, November 5, and will close on Thursday, November 7. The healthcare services company plans to raise ₹2,106.60 crore from the book-built issue at the upper-end of the price band of ₹28 to ₹30 per share. Sagility India IPO is entirely an offer-for-sale (OFS) of 70.22 crore equity shares by its promoter Netherlands-based Sagility BV.
Ahead of the Sagility India IPO opening, the company’s promoter raised ₹366 crore by selling its 2.61% stake to 9 institutional investors on October 30-31.
The ₹11,327.43-crore worth Swiggy IPO opens for public subscription on Wednesday, November 6, and closes on Friday, November 8. Swiggy IPO price band is set at ₹371 to ₹390 per share and is a combination of fresh issue of 11.54 crore equity shares amounting to ₹4,499 crore and offer-for-sale (OFS) of 17.51 crore shares worth ₹6,828.43 crore.
The selling shareholders in the OFS include Accel India IV (Mauritius) Ltd, Apoletto Asia Ltd, Alpha Wave Ventures, LP, Coatue PE Asia XI LLC, DST EuroAsia V B.V, Elevation Capital V Ltd, Inspired Elite Investments Ltd, MIH India Food Holdings B.V, Norwest Venture Partners VII-A Mauritius and Tencent Cloud Europe B.V.
The bidding for ACME Solar Holdings IPO will also commence on November 6 and conclude on November 8. The mainboard IPO size is ₹2,900 crore which is a combination of fresh issue of 8.29 crore shares aggregating to ₹2,395 crore and OFS of 1.75 crore shares worth ₹505 crore. ACME Solar Holdings IPO price band is set at ₹275 to ₹289 per share.
Niva Bupa Health Insurance IPO will be launched from November 7 to November 11 to raise
₹2,200 crore. The issue is a combination of fresh issue of ₹800 crore and an OFS component of ₹1,400 crore. Niva Bupa Health Insurance IPO price bands are yet to be announced.
Neelam Linens and Garments IPO is an SME IPO opening on Friday, November 8 and will close on November 12. Neelam Linens and Garments IPO price band is set at ₹20 to ₹24 per share. At the upper-end of the price band, the SME company plans to raise ₹13 crore from the book-built issue which is entirely a fresh issue of 54.18 lakh equity shares. Neelam Linens and Garments shares will be listed on NSE SME with a tentative listing date fixed as November 18.
Afcons Infrastructure IPO listing date is November 4. The equity shares of the Shapoorji Pallonji-group company will debut on both the stock exchanges, BSE and NSE. Afcons Infrastructure IPO listing is estimated to be flat or at a discount, according to stock market experts and the trends in grey market premium (GMP).
