Upcoming IPOs: Exciting Opportunities for Investors
The Indian IPO landscape is becoming increasingly vibrant, with the market regulator SEBI granting approval for five companies to launch their Initial Public Offerings (IPOs). Notable names include Swiggy, Hyundai Motor India, Acme Solar Holdings, Vishal Mega Mart, and Mamta Machinery. This approval signifies that these companies are on track to enter the market within the next year, creating significant investment opportunities for savvy investors.
Companies Granted Approval for IPOs
| Company | Date of Approval | IPO Size |
|---|---|---|
| Swiggy | September 24 | Up to ₹3,750 crore |
| Hyundai Motor India | September 24 | ₹3 billion (approximately) |
| Vishal Mega Mart | September 25 | ~$1 billion |
| Acme Solar Holdings | September 27 | ₹3,000 crore |
| Mamta Machinery | September 27 | Unspecified |
Details on Notable IPOs
Swiggy, the second-largest food delivery service in India, filed its draft IPO documents with SEBI in April 2023. The latest update was submitted on September 26, proposing to issue fresh equity shares worth up to ₹3,750 crore alongside an offer for sale (OFS) of 18.52 crore equity shares by existing shareholders. Major investors participating in the OFS include Accel India, SoftBank, and Tencent Cloud Europe, paving the way for a robust offering.
Hyundai Motor India aims to capitalize on the growing automobile sector with its anticipated IPO, which involves an offer for sale of 14.21 crore equity shares. As reported recently, the company is looking at launching this IPO in October, tentatively targeting a size of approximately $3 billion. The promoter, Hyundai Motor Company, will be the sole seller in the OFS.
Vishal Mega Mart, known for its extensive network of fashion hypermarkets, plans to make a significant market entry with an IPO seeking to raise around $1 billion. Backed by Kedra Capital and Partners Group, the company aims to leverage the growing demand in the retail sector, with multiple financial institutions engaged as lead managers for the IPO.
Acme Solar Holdings, a notable player in India’s renewable energy sector, is preparing to launch its IPO with a target of raising ₹3,000 crore. This will include a fresh issue of shares worth ₹2,000 crore and an OFS of ₹1,000 crore from its promoter, Acme Cleantech Solutions. As the renewable energy sector continues to grow, this IPO is one to watch.
Mamta Machinery, specializing in packaging equipment, plans to raise funds exclusively through an OFS of 73.82 lakh equity shares. The move comes at a time when demand for packaging solutions is on the rise, likely providing investor confidence in its offerings.
Market Insights and Considerations
With SEBI also returning the draft papers from Innovision, a manpower services and skill development training provider, on September 27, investors should remain vigilant about the evolving market dynamics. Innovision aimed to raise ₹315 crore through a combination of fresh shares and an OFS.
(Disclaimer: This article is provided for informational purposes only. Investing in the stock market carries risks, and individuals should seek expert advice to make informed investment decisions.)
