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IPO Updates: Swiggy and ACME Solar Listing Dates; Niva Bupa and Zinka Logistics GMP subdivision
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IPO Updates: Swiggy and ACME Solar Listing Dates; Niva Bupa and Zinka Logistics GMP subdivision

It’s a busy week for the primary markets, with plenty of action planned for primary market investors. The current week will see the listing of companies like Swiggy and ACME Solar Holdings, followed by the allocation and listing of health insurance Niva Bupa. Additionally, a new Zinka Logistics Solutions will be open for tender today.

Shares of Swiggy and ACME Solar Holdings will be listed on the stock exchange on Wednesday, November 13. Both issues were auctioned between November 6 and 8 but received a muted response from investors during the three-day bidding process.

Bengaluru-based Swiggy’s IPO offered its shares in a fixed price band of Rs 371 to 390 per share with a batch of 38 shares. The company raised a total of Rs 11,327.43 crore through its IPO, which included a fresh sale of shares of Rs 4,499 crore and an offer for sale (OFS) of up to 175,087,863 shares. The number has been booked 3.59 times overall.

Shivani Nyati, head of wealth at Swastika Investmart, recommended a cautious approach to Swigg. “Investors with a high risk tolerance and long-term perspective may consider the IPO, but it is essential to recognize the potential risks associated with the company’s current financial situation and broader market uncertainties” , she said.

Similarly, ACME Solar Holdings offered its shares in the price band of Rs 275 to 289 per share with a batch of 51 shares in the IPO. The Gurugram-based company raised a total of Rs 2,900 crore through its IPO, which included a fresh sale of shares of Rs 2,395 crore and an offer for sale (OFS) of up to 1,74,74 049 shares. The issue only saw a subscription of 2.75 times.

Nyati also has a similar view on ACME Solar; it anticipates a potential for volatility in the short term. “While the company’s long-term growth prospects are encouraging, short-term market dynamics and the impact of external factors could influence the stock’s post-listing performance,” she added.

Niva Bupa Health Insurance is expected to finalize the basis of allocation of its shares on Tuesday, November 12. The Rs 2,200 crore IPO was subscribed between November 7 and 11, achieving an overall subscription of just 1.80 times. The company will list on Thursday, November 14 and the basis of allocation will be finalized in a day or two.

Additionally, investors who still have an appetite for the primary market will have the opportunity to apply for the Zinka Logistics Solutions (Blackbuck) IPO, which opens for bidding on Wednesday, November 13. It offers its shares in the range of Rs 259.-273 each, where investors can apply for a minimum of 54 equity shares and its multiples thereafter.

Founded in April 2015, Zinka Logistics Solution is a digital platform for truck operators, through its “The BlackBuck” application. The three-day auction for the issue of Rs 1,114.72 crore ends on Monday, November 18 while the markets will observe a public holiday on Friday, November 15 due to Guru Purnima.

Disclaimer: Business Today provides stock information for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult a qualified financial advisor before making any investment decisions.