Upcoming IPOs: From NTPC Green Energy To One Mobikwik Systems 6 IPOs To Launch In The Next 2-3 Weeks

With six firms from a variety of companies scheduled to conduct initial public offerings (IPOs), the IPO market is anticipated to be exciting in the upcoming weeks. Sources claim that companies preparing to go public include NTPC Green Energy, Acme Solar, Mobikwik, Sagility India, Zinka Logistics, and Niva Bupa. While NTPC Green is currently pending final observation, all have obtained final approval from SEBI.

NTPC Green Energy

NTPC Green Energy Ltd. is the largest renewable public sector enterprise in India in terms of both energy output and operating capacity as of June 2024. One of NTPC Ltd.'s subsidiaries is NTPC Green Energy Ltd. (NGEL). Through NTPC Green Energy, the largest power-producing firm in India is diversifying into renewable energy.

According to ICICI Direct Research, the NTPC Green Energy IPO is anticipated to raise between Rs 5,000 and Rs 6,000 crore through a combination of fresh issue and an offer for sale by NTPC Ltd. Depending on the state of the market at the time of listing, the broking estimates that the price range will be between Rs 100 and Rs 120 per share. It is anticipated that NTPC Green Energy will be listed on the National Stock Exchange (NSE) as well as the Bombay Stock Exchange (BSE).

Acme Solar Holdings

One of the leading independent producers of renewable energy in India is Acme Solar Holdings Ltd. In addition to managing its own operations and maintenance (O&M) and engineering, procurement, and construction (EPC), the corporation makes revenue by selling power to central and state organisations.

The IPO for ACME Solar Holdings is a book-built issue of Rs 3,000.00 crores. The offering consists of a Rs 1,000.00 crore offer for sale (OFS) and a Rs 2,000.00 crore fresh issue. The IPO price band and subscription dates for ACME Solar Holdings have not yet been disclosed.

One Mobikwik Systems

A well-known payment platform in India is Mobikwik Systems Ltd. Mobikwik, which was founded by Bipin Preet Singh and Upasana Taku, offers financial solutions and payment systems including Kwik QR, EDC Machines, and Merchant Cash Advance with an emphasis on financial inclusion. With RBI's acceptance of its Payment Aggregator (PA) license, its subsidiary, Zaakpay, runs a business-to-business (B2B) e-commerce payment gateway.

The Securities and Exchange Board of India (SEBI) has authorised One Mobikwik Systems Ltd's Initial Public Offering (IPO). An offer for sale (OFS) of Rs 400 crore and a fresh share issue of Rs 1,500 crore make up the Rs 1,900 crore IPO issue size. IIFL Securities, Credit Suisse Securities, BNP Paribas, ICICI Securities, and Jefferies India Pvt Ltd are the issue's book-running lead managers. Seventy-five per cent of the IPO shares will go to qualified institutional buyers, with the remaining 15 and 10 per cent going to retail and non-institutional investors, respectively.

Sagility India

One of the top providers of technology services with an emphasis on healthcare, Sagility India Ltd. offers solutions for both healthcare payers and providers. Sagility was founded in Bengaluru in 2021. According to the Draft Red Herring Prospectus (DRHP), Sagility India's scheduled IPO is fully an OFS of 98.44 crore shares by promoter Sagility BV. Since Sagility India's IPO is only an OFS and does not include a fresh issue component, the Bengaluru-based firm will not get any funds from the public offering; instead, the full amount will go to the selling shareholders.

Zinka Logistics

BlackBuck's parent firm is Zinka Logistics Solutions Limited, an online transportation platform. Additionally, the firm provides financing alternatives for the purchase of commercial vehicles, facilitating 4,035 loans totalling Rs 196.79 crore by March 2024. Fees and loan-related charges are how the company makes revenue. Zinka Logistics would offer up to 21.61 million equity shares for sale (OFS) and a fresh issue of shares up to Rs 550 crore with each share will have a face value of Re 1.

On July 5, 2024, Zinka Logistics submitted its initial public offering (IPO) documents to the Securities and Exchange Board of India (SEBI). To oversee the IPO, Axis Capital, Morgan Stanley India Company, JM Financial, and IIFL Securities were chosen as the book-running lead managers.

Niva Bupa Health Insurance Company Ltd

With a gross direct premium of Rs 5,499 crore in fiscal 2024, Niva Bupa Health Insurance Company Ltd. is among the largest independent health insurers in India. As of fiscal 2024, Niva Bupa has a 16.24% market share in standalone health insurance (SAHI), making it the second SAHI company in India to go public after Star Health. A fresh issue of Rs 800 crore and an offer for sale (OFS) by Bupa Singapore Holdings Pte. Ltd. of up to Rs 320 crore and Fettle Tone LLP of up to Rs 1,880 crore make up the total issue size of the IPO, which has a face value of Rs 10 per share.

ICICI Securities Limited, Morgan Stanley India Company Private Limited, Kotak Mahindra Capital Company Limited, Axis Capital Limited, HDFC Bank Limited, and Motilal Oswal Investment Advisors Limited are the book-running lead managers for the offering. The registrar of Niva Bupa Health Insurance Company IPO is KFin Technologies Limited.