Upcoming IPOs: The Indian primary market is expected to be active in the coming weeks, with six companies from various sectors set to launch initial public offerings (IPOs). According to sources, NTPC Green Energy, Acme Solar, Mobikwik, Sagility India, Zinka Logistics, and Niva Bupa are among those gearing up to go public. All these upcoming IPOs have received final clearance from SEBI, with NTPC Green still awaiting final observation.
NTPC Green Energy Ltd is India's largest renewable public-sector company (excluding hydro) based on its operational capacity and energy production as of June 2024. The company's portfolio includes 14,696 MW of projects, with 2,925 MW already operational and 11,771 MW contracted. Another 10,975 MW of capacity is also in development, bringing the total to 25,671 MW. NTPC Green's assets span multiple states, with solar and wind energy projects helping to manage geographic variability in generation.
Acme Solar Holdings Ltd ranks among India's top independent renewable power producers. Over the years, Acme has broadened its focus from solely solar projects to an integrated approach across renewable energy. The company manages its engineering, procurement, and construction (EPC) as well as operations and maintenance (O&M), generating revenue through electricity sales to state and central entities.
One Mobikwik Systems Ltd is a prominent payment platform in India that connects consumers and merchants. Founded by Bipin Preet Singh and Upasana Taku, Mobikwik focuses on financial inclusion by providing payments and economic solutions, such as Kwik QR, EDC Machines, and Merchant Cash Advance. Its subsidiary, Zaakpay, operates a B2B payment gateway for e-commerce, supported by RBI's approval for its Payment Aggregator (PA) license.
Sagility India Ltd is a leading healthcare-focused technology service provider offering solutions for healthcare payers and providers. Established in 2021 in Bengaluru, Sagility provides essential services like claims management, clinical services, and revenue cycle management for healthcare providers while also serving pharmacy benefit managers.
Zinka Logistics seeks to modernize the trucking industry in India. Its BlackBuck app empowers truck operators with tools for payment management, telematics, and vehicle financing. The company also offers financing options for commercial vehicle purchases, facilitating 4,035 loans worth ₹196.79 crore by March 2024 and generating revenue through fees and loan-related charges.
Niva Bupa Health Insurance Company Ltd is one of India's largest standalone health insurers, with a Gross Direct Premium of ₹5,499 crore in Fiscal 2024. With a "digital-first" approach, the company offers end-to-end digital solutions for health insurance, from onboarding to claims. As of fiscal 2024, Niva Bupa holds a 16.24% share in the standalone health insurance (SAHI) market, becoming the second SAHI firm in India to file for an IPO after Star Health.
