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Koushik Roy

Exciting Upcoming IPOs: SEBI Greenlights Swiggy, Hyundai India & 3 More for Big Investment Potential!

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

CompanyDate of ApprovalIPO Size
SwiggySeptember 24Up to ₹3,750 crore
Hyundai Motor IndiaSeptember 24₹3 billion (approximately)
Vishal Mega MartSeptember 25~$1 billion
Acme Solar HoldingsSeptember 27₹3,000 crore
Mamta MachinerySeptember 27Unspecified

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.)