The Indian stock market is set for an active week, with three new initial public offerings (IPOs) and four key listings scheduled for this week. These IPOs are scheduled to raise a total of Rs 1,173.3 crore. These offerings will come from both the mainboard and the small and medium enterprises (SME) sectors, attracting strong investor interest despite the cautious market environment.
Zinka Logistics IPO
Zinka Logistics Solutions, based in Bengaluru, is set to raise Rs 1,114.72 crore through its IPO, which opens on November 13, 2024 and closes on November 18, 2024. The price band for the offer is Rs 259-273 per share. The IPO comprises a fresh issue of Rs 550 crore and an offer-for-sale (OFS) of 20.7 million shares, valued at Rs 564.72 crore at the upper price band.
The proceeds will be used for sales and marketing, strengthening its financing arm BlackBuck Finserve, and general corporate purposes. The IPO opens for anchor investors on November 12 and for retail investors on November 13. Investors can apply in multiples of 54 shares.
Two SME IPOs to Open This Week
This week will also see the opening of two IPOs from the SME sector.
Hardware rental company, Mangal Compusolution plans to launch its IPO on November 12 with the goal of raising Rs 16.23 crore by selling shares at a set price of Rs 45 apiece. The closing date of the issue is November 14.
Onyx Biotec, a pharmaceutical company specialising in sterile products for the pharmaceutical industry, will launch its IPO on November 13. The company plans to raise Rs 29.34 crore through the issuance of 4.81 million shares, priced between Rs 58 and Rs 61 per share. The subscription for this issue will close on November 18.
4 Companies Set to List This Week
Alongside the fresh IPOs, four companies are set to be listed this week. The most anticipated listing is Swiggy, the food delivery leader, which will start trading on November 13 after its Rs 11,327-crore IPO. The issue was oversubscribed 3.59 times.
In addition to Swiggy, three other companies will list on the market this week.
Sagility India, a healthcare solutions provider, will start trading on November 12, having received 3.2 times the number of subscriptions. ACME Solar Holdings, an electricity producer, will begin trading on November 13 after attracting subscription around 2.75 times. Lastly, Niva Bupa Health Insurance, which raised Rs 2,200 crore, will list on November 14.
