Let’s take a closer look at each of these offerings, starting with one of the week’s most anticipated IPOs—Swiggy.
1. Sagility India IPO
The Sagility India IPO is first up, opening for subscription on Tuesday, November 5, and closing on Thursday, November 7. This healthcare services company is aiming to raise ₹2,106.60 crore through a book-built issue priced at ₹28 to ₹30 per share. This IPO is structured as an offer-for-sale (OFS) where Sagility BV, the Netherlands-based promoter, will be selling 70.22 crore equity shares.
Interestingly, Sagility’s promoter raised ₹366 crore by selling a 2.61% stake to nine institutional investors just days before the IPO launch, hinting at solid institutional interest. This pre-IPO sale could be a positive sign for retail investors looking for stability and confidence from large investors.
2. Swiggy IPO
Among the most eagerly awaited IPOs this week is Swiggy’s, a household name in India’s food delivery and tech space. The Swiggy IPO, valued at ₹11,327.43 crore, opens on Wednesday, November 6, and closes on Friday, November 8. With a price band set between ₹371 and ₹390 per share, Swiggy’s IPO offers both a fresh issue of 11.54 crore equity shares worth ₹4,499 crore and an OFS component of 17.51 crore shares amounting to ₹6,828.43 crore.
Swiggy IPO, The selling shareholders include major stakeholders such as Accel India IV (Mauritius) Ltd, Alpha Wave Ventures, and Tencent Cloud Europe B.V., among others. Swiggy’s IPO holds great appeal for investors looking to enter India’s fast-growing tech and consumer services industry.
3. ACME Solar Holdings IPO
Also opening on November 6 is ACME Solar Holdings’ IPO, which will run until November 8. Set at a price band of ₹275 to ₹289 per share, this IPO aims to raise ₹2,900 crore through a combination of a fresh issue of 8.29 crore shares (worth ₹2,395 crore) and an OFS of 1.75 crore shares (worth ₹505 crore).
With the growth of renewable energy in India, ACME Solar Holdings represents a significant investment opportunity in green energy infrastructure. Investors keen on sustainable energy and infrastructure developments may find this IPO particularly attractive.
4. Niva Bupa Health Insurance IPO
Next on the list is the Niva Bupa Health Insurance IPO, scheduled for November 7 to November 11. This healthcare insurance provider seeks to raise ₹2,200 crore, with ₹800 crore as a fresh issue and ₹1,400 crore through OFS. While the price band has yet to be disclosed, Niva Bupa is expected to capture interest from investors drawn to India’s expanding health insurance sector.
Healthcare has emerged as a critical sector in India, and as the demand for insurance continues to grow, Niva Bupa’s offering could provide a stable and growth-oriented investment avenue.
5. Neelam Linens and Garments IPO (SME)
On November 8, the SME segment welcomes Neelam Linens and Garments, an apparel company aiming to raise ₹13 crore through a fresh issue of 54.18 lakh equity shares. The IPO is priced between ₹20 to ₹24 per share and will close on November 12. As an SME IPO, it will list on the NSE SME exchange with a tentative listing date of November 18.
Neelam Linens offers a unique opportunity for investors interested in niche apparel markets within the SME space. With India’s SME sector gaining momentum, this IPO could attract retail investors looking to diversify their portfolios.
6. Afcons Infrastructure IPO Listing
Finally, Afcons Infrastructure Ltd., part of the Shapoorji Pallonji Group, will make its debut on Dalal Street on November 4. Shares will be listed on both the BSE and NSE exchanges. Market analysts suggest a potentially subdued debut for Afcons, with the stock expected to list at or slightly below the offering price.
Despite this, Afcons’ entry onto the exchanges could a long-term play for investors interest in the construction and engineering space,
especially given the company’s establish reputation in large-scale infrastructure projects.
Understanding the Market Mood: What’s Driving IPO Activity?
October saw a considerable sell-off in the Indian market, with the Nifty 50 index dropping by 7.5% due to high foreign institutional investor outflows, underwhelming Q2 earnings, and global tensions,
particularly in the Middle East. However, the IPO market remained resilient, with six significant IPOs launching,
including Hyundai Motor India, which set a record as India’s largest IPO at ₹27,870.16 crore.
This upcoming week’s IPO line-up demonstrates renewed investor confidence in specific sectors, particularly tech, healthcare, and renewable energy. Investors appear eager to seize these opportunities,
possibly betting on a market turnaround as geopolitical issues settle and domestic growth stabilizes.
Strategies for Investors Considering IPOs This Week
For investors contemplating an entry into any of this week’s IPOs, here are a few tips:
- Assess Sector Strength: Evaluate the sector’s growth potential. For instance, Swiggy operates in a rapidly expanding tech sector, while ACME Solar Holdings represents renewable energy.
- Look at Financials: Scrutinize financial records and previous earnings growth. Companies like Sagility and Niva Bupa, with strong sector backing, might offer long-term stability.
- Check the Offer Structure: Pay attention to the balance between fresh issues and OFS components, as this can indicate how invested promoters are in the company’s growth.
- Monitor Institutional Activity: The involvement of institutional investors, as seen with Sagility, is often a positive sign, indicating stability and market interest.
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Final Thoughts: An Exciting Week on Dalal Street
Swiggy IPO, This week on Dalal Street is shaping up to be eventful with a diverse mix of IPOs. From Swiggy’s strong foothold in tech to ACME’s renewable energy focus,
the line-up offers various investment themes for different risk appetites and sector interests. As always,
investors should do their homework and carefully consider the potential for both short-term and long-term gains in each IPO.
While each IPO carries its unique risks, this week’s selections appear well-positioned to meet investor demand in India’s evolving financial market landscape. Whether you’re a seasoned investor or new to IPOs,
these offerings bring exciting opportunities to the table.
