Upcoming IPO Frenzy: Swiggy, Acme Solar, Sagility India, and Niva Bupa to Launch Next Week—Get the Details!
Get ready for a busy IPO week with Swiggy, Acme Solar, Sagility India, and Niva Bupa all set to launch. Discover key details about their offerings, pricing, and what to expect from these highly anticipated market entries. Don't miss out on this investment opportunity!
IPO
The primary market is set for a bustling week, led by Swiggy's highly anticipated IPO. Investors will have much to consider as the food delivery giant opens its share sale on November 6, joined by IPOs from Acme Solar Holdings, Sagility India, and Niva Bupa Healthcare.
Swiggy's IPO is priced between ₹371 and ₹390 per share, valuing the company at $11.3 billion—a strategic adjustment in response to market volatility and lacklustre performances from other major players like Hyundai India. The company aims to raise ₹4,499 crore through fresh equity, with 17.5 crore shares available via an offer-for-sale. Funds will be allocated to its subsidiary Scootsy, technology upgrades, cloud infrastructure, and brand marketing over the next five years. Notable investors, including BlackRock and the Canada Pension Plan Investment Board, are set to participate, making this the second-largest IPO in India this year.
Acme Solar Holdings will launch its IPO on November 5, with shares priced between ₹275 and ₹389. The ₹2,900 crore offering consists of ₹2,395 crore in fresh equity and a ₹505 crore offer-for-sale. The renewable energy firm, focusing on green technologies like ammonia production, plans to use the proceeds for debt repayment and general corporate needs.
Sagility India, a healthcare services provider, is eyeing a ₹2,107 crore IPO, set to open on November 5 with a price band of ₹28-30 per share. This offering is entirely an offer-for-sale, with proceeds going to promoter Sagility B.V., an affiliate of EQT Private Capital Asia, which will reduce its stake by 15%.
Niva Bupa Healthcare rounds out the week's offerings, opening for bids on November 7. This health insurer’s IPO features an ₹800 crore fresh equity sale and a ₹1,400 crore offer-for-sale from Bupa Singapore Holdings and Fettle Tone, aimed at strengthening the company’s capital base and enhancing solvency levels.
With 26 companies awaiting Securities and Exchange Board of India (SEBI) approval to raise ₹72,000 crore and another 55 aiming for ₹89,000 crore, the IPO frenzy is far from over.
