IPO Rush: Swiggy Among Four Issues This Week, Afcons Infrastructure To List
Swiggy Ltd., Neelam Linens and Garments (India) Ltd., ACME Solar Holdings Ltd., Sagility India Ltd., are the mainboard IPOs this week.
India's primary market enters November with the public issue of four new companies and one listings. The companies set to launch their maiden share sales includes food delivery giant Swiggy Ltd., which will open for subscription on Nov. 6., while Afcons Infrastructure Ltd., will list on Nov. 4.
Swiggy Ltd., Neelam Linens and Garments (India) Ltd., ACME Solar Holdings Ltd., Sagility India Ltd., are the mainboard IPOs this week.
Afcons Infrastructure's initial public offering was subscribed 2.63 times on the third and final day on Tuesday. The issue was subscribed 36% on its second day and 10% on day one. The grey market premium of Afcons was Rs 2 as of 6:59 p.m., according to Chittorgarh's unit InvestorGain.
The infrastructure company has set a price band of Rs 440 to Rs 463 per share for its three-day IPO, which is a mix of both fresh issue and an offer for sale, totalling Rs 1,250 crore and Rs 4,180 crore respectively, at a face value of Rs 10 each.
The Shapoorji Pallonji Group's company raised Rs 1,621.5 crore from anchor investors on Thursday ahead of its IPO. The company allotted 3.5 crore shares at Rs 463 apiece to 80 anchor investors.
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.
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.
ACME Solar Holdings' has set a price band of Rs 275–289 for its upcoming initial public offering, according to a company statement on Thursday. Investors can bid for a minimum lot of 51 shares or in multiples thereof.
The company is looking to sell shares worth Rs 2,900 crore via the book-building offer. The issue includes fresh issue of Rs 2,395 crore and an offer for sale worth Rs 505 crore. The OFS portion has promoter ACME Cleantech Solutions Pvt. as the sole selling shareholder.
The anchor portion for the offer will open on Nov. 5. The IPO will open on Nov. 6 and continue till Nov. 8.
