Swiggy among 4 IPOs launching next week: Check complete list
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 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.
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.
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.
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.
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.
