IPOs This Week: Swiggy, ACME Solar Among Five Issues To Open In First Week Of November

It is going to be a busy week for the primary market post-Diwali as several big-ticket initial public offerings are scheduled for launch.

The first week of November will see the launch of four mainboard IPOs—Swiggy Ltd., Sagility India Ltd., ACME Solar Holdings Ltd. and Niva Bupa Health Insurance Co.

In addition, the NSE SME issue of Neelam Linens and Garments India Ltd. will also open for subscription this week.

Here's the full list of IPOs opening in the week starting from Nov. 4:

Online food and grocery delivery platform Swiggy Ltd. is set to launch its IPO on Nov. 6. The offer consists of a fresh issue of shares worth Rs 4,499 and an offer-for-sale component of 17.5 crore shares.

The company has set the price band in the range of Rs 371 to Rs 390 apiece. The public issue includes a reservation of 7.5 lakh shares for eligible employees, offered at a discount of Rs 25.

Retail investors can bid in the Swigy IPO for a minimum single lot size of 38 shares amounting to Rs 14,820.

The subscription window for the Swiggy IPO will close on Nov. 8. The IPO listing has been scheduled for Nov. 13. Shares of Swiggy Ltd. will be listed on the NSE and BSE.

Swiggy aims to use Rs 1,343 crore from the IPO proceeds to invest in its subsidiary Scootsy and expand its dark stores network. Further, the company plans to invest Rs 703 crore in technology and cloud infrastructure.

The company will utilise Rs 1,115.3 crore for brand marketing and business promotion. It will also use about Rs 137 crore to settle debts.

Healthcare solutions provider Sagility India Ltd. will launch its IPO on Nov. 5. The company aims to raise Rs 2,106.59 crore from investors via an offer for sale of more than 70.22 crore shares. Sagility India's IPO price band is Rs 28–30 apiece.

The Bengaluru-based firm has reserved 75% of the net issue for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors.  

Sagility India is a provider of healthcare-focused solutions and services for US-based health insurers.

Link Intime India Pvt. is the registrar for Sagility India IPO.

Retail investors can bid for a minimum lot size of 500 shares, totalling Rs 15,000 at the upper price band. Since it is an OFS issue, the net proceeds will directly go to selling shareholders.

The IPO subscription will close on Nov. 7. The listing of the Sagility India IPO has been scheduled for Nov. 12.

Bidding for the IPO of Acme Solar Holdings Ltd., a renewable energy firm, is set to open for subscription on Nov. 6. The Acme Solar IPO will consist of a fresh issue of 8.29 crore shares, worth Rs 2,395 crore, and an OFS of 1.75 crore shares.

The company has set the issue's price band at Rs 275–289. Retail investors can bid in the IPO for a minimum lot size of 51 shares, amounting to an investment of ₹14,739.

The IPO will close for bidding on Nov. 8. Shares of Acme Solar Holdings are scheduled to be listed on the NSE and BSE on Nov. 13.

Acme Solar Holdings aims to use the net proceeds from the IPO to settle debts. Further, a portion of the money will also be used for general corporate purposes.

Kfin Technologies Limited is the registrar for the issue.

Incorporated In June 2015, Acme Solar Holdings is one of the largest producers of electricity from wind and solar energy in India.

It specialises in the development, construction, ownership, operation, and maintenance of large-scale renewable energy projects.

Niva Bupa Health Insurance Co. has fixed a price band of Rs 70-74 per share for its IPO that will open for subscription later this week.

The health insurer aims to raise up to Rs 2,200 crore in its upcoming maiden issue. The issue opens for subscription on Nov. 7 and will close on Nov. 11.

The SME IPO of Neelam Linens and Garments India Ltd. will be open for subscription between Nov. 8 and close on Nov. 12.

The company aims to raise Rs 13 crore from the IPO. The issue, which comprises an entirely fresh issue totalling 54.18 lakh shares, will be listed on NSE's SME platform.

The price band has been set in the Rs 20–24 range. Retail investors can bid for a minimum lot size of 6,000 shares, totalling an investment of Rs 1.44 lakh.

Neelam Linens and Garments is in the business of soft home furnishing. It processes, finishes, and supplies bedsheets, towels, rugs, doors, pillow covers, duvet covers, shirts, and garments.

Proceeds from the IPO will be used for capital expenditure, settlement of debts, and general corporate purposes.

The IPO listing has been scheduled for Nov. 18.