Swiggy among 4 IPOs launching next week: Check complete list
What's the story
The stock market is in for a busy spell post-Diwali with a number of high-profile initial public offerings (IPOs) lined up for launch.
The first week of November will see the debut of three important IPOs: Swiggy, Sagility India, and ACME Solar Holdings.
The NSE SME issue of Neelam Linens and Garments India Ltd. will also open for subscription this week.
Swiggy's debut
Swiggy to launch IPO on November 6
Online food and grocery delivery platform Swiggy will launch its public issue on November 6.
The offer includes a fresh issue of shares worth ₹4,499 crore and an offer-for-sale of 17.5 crore shares.
The company has priced the issue between ₹371-390 apiece, with a reservation of 7.5 lakh shares for eligible employees at a discounted price.
Investment plans
Swiggy's IPO proceeds to fund expansion and technology
From the IPO proceeds, Swiggy has set aside ₹1,343 crore for investment in its subsidiary Scootsy and expansion of its dark stores network.
Another ₹703 crore will be invested in technology and cloud infrastructure.
The company also plans to spend ₹1,115.3 crore on brand marketing and business promotion, while around ₹137 crore will be used to pay off debts.
Healthcare IPO
Sagility India to raise ₹2,106.59 crore through IPO
Healthcare solutions provider Sagility India is set to launch its IPO on November 5 in a bid to raise ₹2,106.59 crore from investors through an offer for sale of over 70.22 crore shares.
The Bengaluru-based firm has fixed its IPO price band at ₹28-30 apiece and reserved 75% of the net issue for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors.
Renewable energy
ACME Solar Holdings to open IPO subscription on November 6
Renewable energy firm ACME Solar Holdings will open its IPO for subscription on November 6.
The company will issue 8.29 crore fresh shares worth ₹2,395 crore and an offer-for-sale (OFS) of 1.75 crore shares.
The issue's price band has been fixed at ₹275-289 per share, with net proceeds from the IPO to be used to pay off debts and for general corporate purposes.
SME debut
Neelam Linens and Garments to raise ₹13 crore through IPO
Neelam Linens and Garments India Ltd. will open its SME IPO for subscription between November 8-12.
The company hopes to raise ₹13 crore from the IPO, which consists of an entirely fresh issue of 54.18 lakh shares.
The issue will be listed on NSE's SME platform with a price band in the ₹20-24 range and proceeds will be used for capital expenditure, debt settlement, and general corporate purposes.