The Indian primary market is poised to witness significant market activity related to the listing of much-awaited initial public offerings (IPOs) like Swiggy, Sagility India, ACME Solar Holdings, and Niva Bupa Health Insurance. The markets will also witness the opening of one mainboard IPO and two small and medium enterprise (SME) IPOs for public bidding starting Tuesday, November 12.
The domestic stock markets experienced a second day of sharp sell-off on Friday, November 8, in the major large-cap stocks, including Reliance Industries, ICICI Bank, State Bank of India, and Trent. These index heavyweights dragged down the session, closing in the red last week.
The US Federal Reserve's (FED) 25-basis-point rate cut also failed to cool the overheated Indian market, as investor sentiment remained subdued amid concerns over softening second-quarter results.
Despite these challenges, the first whole week of November was very active for the primary markets, and many of the anticipated IPOs, including Swiggy's ₹11,327 crore issue, were up for public bidding.
Looking ahead, the list of upcoming IPOs next week includes one mainboard IPO and two SME IPOs that are aiming to raise funds in the second week of November from the public markets.
Zinka Logistics Solution Limited, also known as Blackbuck, is offering an initial public offering (IPO) through a book-built issue comprising of a fresh issue and an offer-for-sale (OFS) aiming to raise ₹1,114.72 crores. The public offer is expected to open on Wednesday, November 13, and will close on Monday, November 18.
The mainboard IPO is expected to be listed by Thursday, November 21. The payments platform for truck operators has set the IPO's price band in the range of ₹259 to ₹273 per share, with a lot size of 54 shares per lot.
Axis Capital Limited, Morgan Stanley India Company Pvt Ltd, JM Financial Limited and IIFL Securities Ltd are the book runners, while Kfin Technologies Limited is the registrar for the public issue.
Onyx Biotec Limited, a pharmaceutical company, is an SME segment firm offering a fresh issue of shares through a book-built issue aiming to raise ₹29.34 crores. The public issue is set to open on Wednesday, November 13, and will close on Monday, November 18. The drugmaker is expected to be listed on the NSE SME index on Thursday, November 21.
The company has set the price band for the issue at ₹58 to ₹61 per share for the shares with a face value of ₹10 per share, and a lot size of 2,000 shares per lot. Retail investors require a minimum investment of ₹1,22,000, and HNIs require a minimum investment of 2 lots (4,000 shares), amounting to ₹2,44,000.
Horizon Management Private Limited is the bookrunner, while Mas Services Limited is the registrar for the issue. Giriraj Stock Broking is the market maker for Onyx Biotec IPO.
Mangal Compusolution Limited, an IT hardware solutions provider in the SME segment, is offering a fresh issue of shares through a book-built issue aiming to raise ₹16.23 crore. The public issue is set to open for subscription on Tuesday, November 12, and will close on Thursday, November 14. The company's shares are expected to be listed on the BSE SME index on Wednesday, November 20.
The company has set the price band for the public offer at ₹45 per share, with a minimum lot size of 3,000 shares. The minimum investment required by retail investors is ₹1,35,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹2,70,000.
Jawa Capital Services Private Limited is the bookrunner for the IPO, while Kfin Technologies Limited is the registrar. The market maker for Mangal Compusolution IPO is Rikhav Securities.
Dalal Street will witness the listing of four initial public offerings (IPOs) starting Tuesday, November 12. Sagility India IPO will be listed on both the BSE and NSE exchanges on November 12.
ACME Solar Holdings and the most-awaited Swiggy Limited IPO will be listed on the domestic indices on Wednesday, November 13. Niva Bupa Health Insurance IPO will also be listed on the BSE and NSE indices on Thursday, November 14.
