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19 Nov 2024
The primary markets were bustling in September 2024, with 11 mainboard and 41 SME (small and medium enterprises) initial public offerings (IPOs) launching. As October approaches, investors are eagerly awaiting several highly anticipated IPOs set to debut in the festive season.
Though only two companies have officially confirmed their IPO opening dates so far this month, major players like Swiggy and Hyundai Motor India have received approval from the Securities and Exchange Board of India (Sebi) and are expected to go public soon.
Here’s an overview of the key IPOs expected in October, offering investors insight into potential opportunities in the primary market:
Garuda Construction and Engineering will open its public issue on October 8 and close on October 10. The ₹264.1-crore IPO includes a fresh issue of 1.83 crore shares (₹173.85 crore) and an offer-for-sale (OFS) of 95 lakh shares (₹90.25 crore). Allotment will be finalized on October 11, with listing on the NSE and BSE scheduled for October 15.
Hyundai Motor India has submitted its draft red herring prospectus (DRHP) for a massive ₹25,000-crore IPO, making it potentially the largest public issue in India. While the exact IPO dates and price band are still awaited, reports suggest it could launch later this month. The issue will be a complete OFS of 14.22 crore shares.
Food and grocery delivery giant Swiggy is preparing to go public this month, aiming to raise ₹10,500 crore. The IPO will include a fresh issue worth ₹3,750 crore and an OFS valued at ₹6,664 crore across 18.52 crore shares.
Shapoorji Pallonji Group’s Afcons Infrastructure Ltd is expected to raise ₹7,000 crore through its IPO, comprising a fresh issue of ₹1,250 crore and an OFS worth ₹5,750 crore.
NTPC Green Energy, NTPC Ltd's green energy arm, is eyeing a ₹10,000-crore IPO this month. Key details such as the date and price band are yet to be disclosed.
Waaree Energies, the country’s leading solar panel manufacturer, plans to raise ₹3,000 crore through its IPO in mid-October, combining fresh shares with an OFS of 32 lakh equity shares.
Among the SME IPOs, Khyati Global Ventures will open its issue on October 4. The FMCG product exporter’s ₹18.3-crore fixed-price IPO offers shares at ₹99 each in lots of 1,200 units. The issue closes on October 8, with allotment expected by October 9 and listing on the BSE SME platform on October 11.
Saj Hotels Ltd and HVAX Technologies Ltd, both SME IPOs, are closing for subscription on October 1. Additionally, Paramount Dye Tec Ltd and Subam Papers Ltd, which opened on September 30, will close on October 3. NeoPolitan Pizza and Foods Ltd’s IPO will wrap up on October 4.
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