If September has overwhelmed the average investor with IPOs and Bajaj Housing Finance dazzling the crowd garnering Rs 3.24 lakh crore application money for a Rs 6,560 crore issue, wait for the Goliaths to uncork the real show on D Street around Diwali. Sebi has given the green light to heavyweight IPOs such as NTPC Green, Swiggy and Hyundai. Each of these 3 companies intend to raise significantly bigger money than what Bajaj Housing Finance did this month hitting about Rs 50,000 crore cumulatively.
NTPC Green IPO
NTPC Green is expected to raise Rs 10,000 crore and the IPO is expected to hit the market in the first week of November. NTPC green is the renewable energy vehicle of India’s biggest PSU thermal power generator, also a Maharatna company.
NTPC currently has an installed capacity to generate 3.5 GW of green energy and another 28 GW is in the course of installation. By 2032, the company wants to achieve a generation of 60 GW of renewable energy.
According to reports, IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management have already been appointed as lead managers to this IPO.
Swiggy IPO
Swiggy, the food delivery platform, that has become a household name in the past few years, intends to raise $1-1.2 billion from an IPO that has already obtained the nod from market regulator Sebi (Securities and Exchange Board of India), according to reports. In fact, reports indicate that shares of Swiggy in the unlisted market have soared by as much as 40% after news of Sebi green light to its confidential application filtered out in the market.
In August, Motilal Oswal boss Ramdeo Agarwal and Amitabh Bachchan’s family were reported to have picked up a small stake in Swiggy, adding to investor interest. At $1-1.2 billion, this issue can also target raising anywhere between Rs 8,350 and Rs 10,020 according to current exchange rates.
Hyundai Motor IPO
But the icing on the IPO cake might be provided by Korean automaker Hyundai. The company that debuted in India in 1996 has received Sebi nod for raising Rs 25,000 crore, merchant bankers told the media. It will dwarf the Rs 21,000-crore issue of LIC in May 2022.
In FY24, Hyundai had a 15% share in the Indian passenger car market, making it the second largest after Maruti.
If the plethora of IPOs have left you spoilt for choice in September, wait for the Goliaths to hit Dalal Street in the festive season. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
