The Indian IPO season is on the go and November brings some of the most awaited IPOs that India is keenly waiting to witness.
Although the market witnessed a backlash with the Hyundai IPO and saw huge FII disinvestment from the Indian market, the overall momentum is expected to remain strong.
In November, seven companies received regulatory approvals and were set to launch their IPOs. 26 companies are waiting for regulatory clearance and 55 are for SEBI's approval. Collectively these companies plan to raise approximately Rs 1610 billion.
In this article, let's look at some of these companies expected to launch in November.
The NTPC Green Energy IPO is raising Rs 10000 crores. It is a subsidiary of NTPC and is into the production of green energy which it does using solar and wind energies.
The company has a solid pipeline of 10.8 GW in renewable energy projects, with 5.9 GW already under construction. Both NTPC and NTPC Green Energy hold top-tier credit ratings.
NTPC Green Energy will invest Rs 7500 crores into NTPC Renewable Energy and the remaining funds will cover general corporate purposes.
One Mobikwik Systems is a payment platform in India that connects consumers with merchants.
It is led by Bipin Preet Singh and Upasana Taku. It offers financial services like Kwik QR, EDC machines, and merchant cash advances. Its subsidiary, Zaakpay runs a payment gateway for online businesses that has RBI's approval and a payment aggregator licence.
The issue size of the IPO is Rs 1,900 crore with a fresh issue of Rs 1,500 crore and OFS of Rs 400 crore.
Zinka Logistics Solutions goes by the Blackbuck brand and is in the trucking industry. BlackBuck offers services such as payments, telematics, load marketplaces, and vehicle financing.
These tools are designed to digitally support truck operators so that they can run their businesses more smoothly and efficiently. It was backed by Flipkart and plans to raise Rs 550 crore through a fresh issue and an offer-for-sale of 2.16 crore equity shares.
Funds from the fresh issue will go towards sales and marketing, increasing capital for Blackbuck Finserve, advancing product development, and covering general corporate expenses.
Upcoming IPOs to watch: Apply and invest in the future!
Acme Solar Holdings IPO
ACME Solar Holdings Limited specialises in solar, wind, hybrid, and firm renewable energy projects. It is India’s largest Independent Power Producer.
Currently, it operates 1,320 MW of solar capacity, with 2,220 MW of projects under construction. It earns its revenue primarily through sales to government clients.
Through this IPO, the company aims to raise Rs 3,000 crore, which includes both a fresh issue of Rs 2,000 crore equity shares and an OFS of Rs 1000 crores, where promoters will be selling part of their holdings.
It plans to use Rs 1,500 crore from the net proceeds to repay or partially settle outstanding loans taken by its subsidiaries. The remaining funds will go towards general corporate purposes which means growth initiatives, business development, and other operational needs or contingencies.
Sagility India Limited delivers tech-driven business solutions to the U.S. healthcare sector with clients like health insurers, hospitals, doctors, and medical device companies.
It provides important services like claims management, clinical support, and revenue cycle management to healthcare providers and pharmacy benefit managers.
The IPO aims to raise Rs 2,106.60 crore in a book-built offering. The IPO is structured entirely as an offer for sale.
Niva Bupa Health Insurance is one of India’s top standalone health insurers, with a GDP of Rs 5,499 crore in FY24. The company follows a "digital-first" approach, making it easy for customers to buy and manage health insurance online.
Niva Bupa holds a 16.24% share of the standalone health insurance market and is the second company in this category to file for an IPO, after Star Health.
Niva Bupa uses a data-driven, lifetime value approach to manage customer relationships. It has a high claims settlement ratio and a wide hospital network.
It is a book-built offering valued at Rs 3,000 crore. It includes a fresh issue of Rs 800 crore with an OFS worth Rs 2,200 crore.
Swiggy has the most awaited IPO of 2024. It is a food delivery and quick commerce giant and stands as a rival to Zomato. The offering has a fresh issue of Rs 4,499 crore and an OFS worth Rs 17.5 crore shares.
Swiggy plans to use Rs 1,343 crore from the IPO to invest in its subsidiary Scootsy and expand Instamart’s dark store network. It will also spend Rs 703 crore on technology, Rs 1,115.3 crore on marketing, and around Rs 137 crore to pay off debt.
Conclusion
In conclusion, the upcoming IPOs offer unique investment opportunities across diverse sectors like renewable energy, healthcare, logistics, food delivery, and digital payments.
These public offerings reflect the dynamic growth of India's industries and present a gateway for investors to participate in the country’s evolving economic landscape.
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