The IPO market will see an exciting lineup with six companies from diverse sectors set to make their public debut. These upcoming IPOs, from giants like NTPC Green Energy to digital payment platform Mobikwik, offer a range of investment opportunities for IPO enthusiasts.
Upcoming IPOs to Watch:NTPC Green Energy Ltd NTPC Green Energy, a subsidiary of NTPC Ltd, is India’s largest renewable energy public sector company by output and operating capacity as of June 2024. The IPO, expected to raise between Rs 5,000 crore and Rs 6,000 crore, will include a fresh issue and an offer for sale by NTPC Ltd. ICICI Direct Research suggests the price band may range between Rs 100 and Rs 120 per share, with plans for listing on both the NSE and BSE.
Acme Solar Holdings Ltd As one of India’s leading renewable energy companies, Acme Solar Holdings generates revenue through its power agreements with central and state entities. The IPO consists of a Rs 3,000 crore issue with a Rs 1,000 crore offer for sale (OFS) and a Rs 2,000 crore fresh issue. Subscription dates and the price band are yet to be announced.
One Mobikwik Systems Ltd Founded by Bipin Preet Singh and Upasana Taku, Mobikwik is a prominent Indian payment platform with financial services for merchants and consumers. The IPO, valued at Rs 1,900 crore, includes a Rs 400 crore OFS and a Rs 1,500 crore fresh issue. Major book-running lead managers include IIFL Securities, ICICI Securities, and Jefferies India. SEBI has approved Mobikwik’s IPO, where 75% of shares are allocated for institutional buyers, and the rest for retail and non-institutional investors.
Sagility India Ltd A healthcare-focused technology service provider, Sagility India is based in Bengaluru and founded in 2021. The IPO consists entirely of an OFS of 98.44 crore shares by promoter Sagility BV, meaning no fresh funds will be raised for the company.
Zinka Logistics Solutions Ltd (BlackBuck) An online logistics platform, Zinka Logistics specializes in commercial vehicle financing and transportation services. Zinka will offer a fresh issue worth Rs 550 crore, along with an OFS of up to 21.61 million equity shares. Key managers include Axis Capital and Morgan Stanley.
Niva Bupa Health Insurance Company Ltd With a gross premium of Rs 5,499 crore in FY24, Niva Bupa ranks as one of India’s top independent health insurers. The IPO, amounting to Rs 3,000 crore, includes an Rs 800 crore fresh issue and an OFS by Bupa Singapore Holdings and Fettle Tone LLP. ICICI Securities and Kotak Mahindra Capital are among the lead managers for this offering.