Upcoming IPOs In November 2024: Swiggy, Acme Solar, Sagility India And More To Make D-Street Debut Next Month

November is set to witness a lot of action at the Indian primary markets, with several big-ticket initial public offerings set to list at the stock exchanges. From online food and grocery delivery platform Swiggy Ltd. to Sagility India Ltd., a slew of big companies are expected to launch their IPOs to raise money from the market.

The possible list includes Acme Solar Holdings, Mobikwik, NTPC Green Energy, Zinka Logistics, Avanse Financial Services and Niva Bupa Health Insurance IPO.

Here is a list of upcoming IPOs in November:

Zomato Ltd. rival Swiggy is set to open its initial public offering for subscription between Nov. 6 and Nov. 8. According to the company's red herring prospectus, the offer comprises a fresh issue of Rs 4,499 crore and an offer for sale of 17.5 crore shares.

While the company has increased the size of the fresh issue from Rs 3,750 crore, the offer-for-sale component size has been reduced by about 1 crore shares being offloaded now, compared to 18.5 crore shares in the earlier versions of the RHP.

Swiggy's IPO price band is likely to be fixed at Rs 371 to Rs 390 per share. However, an official announcement is yet to be made on that front.

The company plans to use Rs 1,343 crore from the IPO proceeds to invest in its subsidiary Scootsy and expand the dark store network of Instamart.

Swiggy will invest another Rs 703 crore in technology and cloud infrastructure and Rs 1,115.3 crore for brand marketing and business promotion. It will also use about Rs 137 crore to settle its debts.

The initial public offering of Sagility India Ltd., a healthcare company, will open for bidding next week at a price band of Rs 28-30 per share.

The IPO of Sagility India comprises of entirely an offer-for-sale of 70.22 crore equity shares by promoter Sagility BV, with no fresh issue component. The company aims to raise Rs 2,107 crore from the offer.

This will be the second book-building offer set to happen next week, after Swiggy. The issue opens for subscription on Nov. 5 and will close on Nov. 7. The anchor book issue will be open for subscription on Nov. 4.

Acme Solar Holdings Ltd., a renewable energy firm, is preparing to launch its IPO in November, although the exact dates are yet to be confirmed. The company aims to raise Rs 3,000 crore through its public offer, which will consist of a fresh issue of Rs 2,000 crore and an offer-for-sale component worth Rs 1,000 crore.

Promoters Mamta Upadhyay, Manoj Kumar Upadhyay, ACME Cleantech Solutions, MKU Holdings, and the Upadhyay Family Trust will offload their stake in the company through the OFS route.

The price band of the Acme Solar IPO has not been decided yet.

The company will use Rs 1,500 crore from the fresh proceeds from the IPO to clear its debts. The remaining portion will be used for general corporate purposes.

Private equity firm True North-led Niva Bupa Insurance Ltd. (formerly known as Max Bupa) has got clearance from SEBI to launch its Rs 3,000 crore IPO, which is expected to open for subscription in November.

The Niva Bupa IPO includes a fresh offer worth Rs 800 crore and an offer for sale worth Rs 2,200 crore. Promoter Bupa Singapore Holdings Pte. and investor Fettle Tone LLP will offload their stake in the company through the OFS route.

The price band and dates for the Niva Bupa IPO are yet to be announced.

The company plans to augment its capital base to strengthen its solvency levels through the fresh proceeds from the IPO. A part of the IPO proceeds will also be used for general corporate purposes.

One of India's largest public renewable energy companies NTPC Green Energy is all set to open its IPO in November, though the dates are not fixed yet. The company received SEBI's final nod to launch its public offer on Oct. 28. The company, a subsidiary of state-owned NTPC Ltd., plans to raise Rs 10,000 crore via the public offer.

The IPO is an entirely fresh issue offering shares with a face value of Rs 10 apiece. It includes a reservation for employees and shareholders of NTPC.

NTPC Green Energy will use Rs 7,500 crore from the IPO proceeds to invest in its wholly-owned subsidiary, NTPC Renewable Energy Ltd. and clear its debts. The rest of the money will be used for general corporate purposes.

Non-banking financial company Avanse Financial Services Ltd. has received SEBI's nod to launch its Rs 3,500 crore IPO. The IPO comprises a fresh offer worth Rs 1,000 crore and an offer-for-sale worth Rs 2,500 crore. The company plans to use the fresh issue from the IPO to boost its capital to expand its business.

One Mobikwik Systems is expected to launch its Rs 1,900 crore IPO in November. The issue has an offer for sale of Rs 400 crore and a fresh issue of Rs 1,500 crore. The dates and the price bands have not been decided yet.

Online transportation platform Zinka Logistics Ltd., the parent company of the BlackBuck app for trucks, is likely to launch its public offer in November. The IPO offers a fresh issue worth Rs 550 crore, along with an OFS of up to 2.16 crore equity shares.