SEBI Streamlines FPI Registration with...
08 Nov 2024
Although these IPOs collectively aim to raise ₹1,173.3 crore—less than the impressive ₹18,500 crore raised the previous week, largely due to Swiggy’s substantial ₹11,327 crore offering—the IPO market remains vibrant.Despite current market challenges, three companies are set to launch initial public offerings (IPOs) in the upcoming abbreviated trading week starting November 11, including one mainboard IPO.
Zinka Logistics Solutions, supported by Peak XV Partners Investments and VEF AB, will lead with the mainboard IPO through its BlackBuck app, a platform for truck operators. Zinka aims to raise ₹1,114.72 crore, with the IPO available from November 13 to November 18, priced between ₹259 and ₹273 per share. This includes a fresh issue worth ₹550 crore and an offer-for-sale of 2.07 crore shares valued at ₹564.72 crore at the top price band.
The two additional IPOs next week will belong to the SME category. Mangal Compusolution, offering hardware rental solutions, will launch its fixed-price IPO on November 12 at ₹45 per share to raise ₹16.23 crore, with the offer closing on November 14. Onyx Biotec, a pharmaceutical supplier, is set to raise ₹29.34 crore through its IPO, with 48.1 lakh shares available at ₹58-61 per share. The subscription period for Onyx Biotec will span from November 13 to November 18.
On the mainboard, Niva Bupa Health Insurance Company’s ₹2,200-crore IPO will conclude on November 11. Already fully subscribed at 1.17 times the offered amount, Niva Bupa’s IPO has garnered substantial interest. In the SME segment, Neelam Linens and Garments (India) will close its offer on November 12 after securing a subscription rate of 2.38 times.
Looking beyond the new launches, several companies will make their market debut next week. Sagility India, specializing in healthcare services, will list on November 12 after a successful 3.2 times subscription. Swiggy and ACME Solar Holdings are both scheduled for listing on November 13, with Swiggy achieving 3.59 times subscription and ACME Solar Holdings at 2.75 times. Additionally, Niva Bupa Health Insurance shares are set to start trading on November 14. The newly listed stocks are showing modest grey market premiums.
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