IPO Rush: Swiggy Shares To List This Week; BlackBuck, Onyx Biotec, Mangal Compusolution Offers To Open

India's primary market enters the second week of November with three new initial public offerings and four listings, which includes the much-anticipated stock market debut of Swiggy Ltd.

The companies set to launch their maiden share sales include BlackBuck operator Zinka Logistics Solutions Ltd., Onyx Biotec Ltd., and Mangal Compusolution Ltd.

Zinka Logistics is the only mainboard IPO for the week and it will open on Nov. 13. The other two issues set to open this week—of Mangal Compusolution and Onyx Biotec—pertain to the small and medium enterprises IPO segment.

Meanwhile, the SME IPO of Neelam Linens and Garments (India) Ltd., which opened on Nov. 8, will close on Nov. 12.

Zinka Logistics Solutions Ltd., the company behind digital logistics services provider BlackBuck, has set the price band for its upcoming initial public offering in the range of Rs 259 to Rs 273 per share. At the upper end of the price band, the company is looking to raise Rs 1,114.7 crore from the book-building issue.

Bids can be made for a minimum lot of 54 shares or in multiples thereof. Zinka Logistics has reserved 26,000 shares for eligible employees and will offer them at a discount of Rs 25 apiece.

The week will see shares of Zomato-rival Swiggy Ltd debuting on the bourses. The initial public offering of the restaurant aggregator was oversubscribed on its final day of bidding on Friday. Subscription stood at 3.59 times as of 7:00 p.m. Qualified institutional buyers have subscribed 6.08 times.

The grey market premium for Swiggy shares was Rs 1 as of 5:30 p.m. on Nov. 8, according to InvestorGain, showing meagre listing gains.

Swiggy's Rs 11,327.4-crore IPO comprised a fresh issue of 11.5 crore shares valued at Rs 4,499 crore and an offer for sale of 17.5 crore shares amounting to Rs 6,828.4 crore.

Along with Swiggy, shares of Sagility India Ltd., ACME Solar Holdings Ltd., and Niva Bupa Health Insurance Co. will also list on the exchanges this week.