November 2024: A Promising Month for IPOs in India
As November 2024 unfolds, it brings with it a wave of excitement for investors in India’s primary markets. This month is particularly noteworthy due to several changes in banking regulations and the advance booking of train tickets, but the real buzz is centered around the highly anticipated initial public offerings (IPOs) from some of the country’s most prominent companies. From tech-driven online food delivery giants to innovative renewable energy firms, the IPO landscape this month is set to raise substantial capital and create a significant impact across various sectors.
The IPO Lineup: A Closer Look
This November, investors can look forward to a diverse array of IPOs that cater to different sectors of the economy. Here’s an in-depth look at some of the biggest IPOs expected this month:
1. Swiggy
Kicking off the month is Swiggy, one of India’s leading online food delivery platforms and a fierce competitor to Zomato. Swiggy’s public issue is set to open on November 6 and close on November 8, aiming to raise a staggering ₹11,327 crore. This amount comprises ₹4,499 crore through fresh issuance and ₹6,828 crore via an offer-for-sale (OFS). Retail investors can bid for a minimum of 38 shares, with the price band set between ₹371 to ₹390 per share. The company is expected to make its debut on the Indian stock exchanges on November 13, making it a highly anticipated event for investors.
2. Sagility India Limited
Next in line is Sagility India Limited, a healthcare service provider that will open its IPO on November 5 and conclude on November 7. The public issue consists solely of an OFS worth ₹2,106 crore by its promoter, Sagility BV, with no fresh issue component. The price band is set between ₹28 to ₹30, and retail investors can purchase a minimum lot size of 500 shares. The listing is scheduled for November 12, adding to the excitement surrounding healthcare investments.
3. ACME Solar Holdings
In the renewable energy sector, ACME Solar Holdings is gearing up for its IPO, which aims to raise ₹2,900 crore through a combination of fresh issuance and an OFS. This IPO is also set to open on November 6 and close on November 8, with a potential listing on November 13. As the world shifts towards sustainable energy solutions, ACME Solar’s IPO is expected to attract significant interest from environmentally conscious investors.
4. NTPC Green Energy Ltd
Another major player in the renewable energy space is NTPC Green Energy Ltd, a subsidiary of the state-owned NTPC Limited. The company has received regulatory approval for its ₹10,000 crore IPO, although the public issue date has yet to be announced. Given the growing emphasis on green energy, this IPO is anticipated to be a game-changer in the market.
5. Niva Bupa Health Insurance
Formerly known as Max Bupa, Niva Bupa Health Insurance is set to open its ₹3,000 crore initial share sale from November 7 to November 9. The IPO includes a fresh issue of equity shares valued at ₹800 crore and a promoter’s offer to sell shares worth ₹2,200 crore. This offering is particularly timely, given the increasing demand for health insurance in India.
6. Avanse Financial Services
Avanse Financial Services, a non-banking financial company (NBFC), is also expected to launch its IPO this month, aiming to raise ₹3,500 crore. The offering will consist of ₹1,000 crore as a fresh issue and ₹2,500 crore as an OFS. While the official announcement is still pending, this IPO is likely to attract attention from investors looking for opportunities in the financial sector.
7. One Mobikwik Systems
One Mobikwik Systems, a digital payment solutions provider, is anticipated to release its ₹1,900 crore IPO this month. Although the official announcement has yet to be made, the growing trend of digital payments in India makes this IPO one to watch closely.
8. Zinka Logistics (BlackBuck)
Finally, Zinka Logistics, the parent company of BlackBuck, is also expected to go public this month. The IPO will feature both a fresh issue and an OFS, catering to the logistics and transportation sector, which is crucial for India’s economic growth.
Conclusion: A Month to Watch
Whether you’re an institutional player or a retail investor, November 2024 promises to be an exhilarating month for IPOs in India. With a diverse lineup of companies spanning various sectors, investors have a unique opportunity to participate in the growth stories of some of the most promising firms in the country. As the market gears up for these public offerings, all eyes will be on the performance and reception of these IPOs, making this month a pivotal moment in India’s financial landscape.