Good news for IPO investors! The Securities and Exchange Board of India (SEBI) has given approval to five companies to launch their initial public offerings (IPOs).
These companies are Swiggy, Hyundai Motor India, Acme Solar Holdings, Vishal Mega Mart, and Mamta Machinery.
SEBI issued observation letters on various dates in September, which means these companies can launch their IPOs within the next year.
Highlights of the Approved IPOs
Swiggy IPO
Swiggy, India’s second-largest food delivery platform, filed for an IPO with SEBI earlier this year.
On September 26, it updated its draft red herring prospectus, planning to raise up to ₹3,750 crore through fresh equity shares.
Additionally, existing shareholders will sell 18.52 crore shares via offer-for-sale (OFS). Major selling shareholders include Accel India, Tencent Cloud Europe, and Alpha Wave Ventures.
Swiggy may also raise ₹750 crore through private placement before the IPO, which could reduce the overall issue size.
Hyundai Motor India IPO
Investors are also looking forward to Hyundai Motor India’s IPO, valued at $3 billion. The company filed its draft papers in June, offering 14.21 crore equity shares entirely through OFS.
Promoter Hyundai Motor Company will be the selling shareholder. The IPO is expected to launch in October.
Vishal Mega Mart IPO
Vishal Mega Mart, a hypermarket chain, aims to raise approximately $1 billion through its IPO.
Backed by Kedaara Capital and Partners Group, the company filed draft papers in July and is now preparing for its market debut.
Acme Solar and Mamta Machinery IPOs
Acme Solar Holdings, a renewable energy company, plans to raise ₹3,000 crore, with ₹2,000 crore through fresh share issuance and ₹1,000 crore via OFS.
Meanwhile, Gujarat-based Mamta Machinery, specializing in packaging equipment, will offer 73.82 lakh equity shares entirely through OFS in its IPO.
SEBI has also returned draft papers for Innovision, a manpower services provider, which had filed for an IPO consisting of ₹315 crore worth of new equity shares and OFS.
