Upcoming IPOs: Hyundai, Swiggy, NTPC Green Energy and more set to go public in October

September 2024 was a busy week for primary markets, as it witnessed the launch of 11 mainboard and 41 SME (small and medium enterprises) initial public offerings (IPOs).

Investors are now gearing up for October, anticipating the launch of some of the most-awaited IPOs in the festive month.

While only two companies have officially announced their IPO opening dates so far this month, other big names like Swiggy and Hyundai Motor India are also likely to launch their issues soon, as they have received approval from the Securities and Exchange Board of India (Sebi) to proceed with their plans.

Here is a look at the full list of IPOs expected in October, in order to map out your investment plans for the investors keeping a watch on the primary market actions:

Garuda Construction and Engineering IPO

Garuda Construction and Engineering announced on Tuesday, September 30, that its public offer will open for subscription on October 8. The mainboard issue will close for bidding on October 10.

The ₹264.1-crore IPO is a book-building issue consisting of a fresh issuance of 1.83 crore shares, aggregating to ₹173.85 crore, and an offer-for-sale (OFS) portion of 95 lakh shares, aggregating to ₹90.25 crore.

The IPO allotment is expected to be finalised on October 11, while shares will be listed on October 15 on NSE and BSE.

Hyundai Motor India IPO

Hyundai Motor India has already filed a draft red herring prospectus (DRHP) for its ₹25,000-crore IPO, which would make it the largest-ever public issue in India. The company is yet to announce its IPO dates and price band. However, many reports suggest that the IPO is expected to be launched later this month.

The issue will be an offer-for-sale (OFS) of nearly 14.22 crore shares, with no fresh issue component.

Swiggy IPO

Food and grocery delivery giant Swiggy is also expected to launch its IPO this month. According to reports, the company aims to raise nearly ₹10,500 crore via a fresh issue and an OFS component.

The IPO will likely consist of a fresh issue of shares worth ₹3,750 crore and an OFS component of 18.52 crore worth ₹6,664 crore.

Afcons Infrastructure IPO

Shapoorji Pallonji Group’s infrastructure and engineering company Afcons Infrastructure Ltd may also launch its IPO soon. The company plans to raise around ₹7,000 crore through the IPO, which will include a fresh issue of ₹1,250 crore and an OFS of shares worth ₹5,750 crore.

NTPC Green Energy IPO

NTPC Green Energy, an umbrella company for NTPC Ltd's green business initiatives, is likely to launch its ₹10,000-crore IPO this month. Important details like the opening date of the issue and price band are yet to be announced.

Waaree Energies IPO

Waaree Energies, India’s largest solar panel manufacturer, is reportedly launching its IPO in mid-October. The company plans to raise ₹3,000 crore through a combination of fresh issuance of shares and an OFS of up to 32 lakh equity shares.

Khyati Global Ventures IPO

Besides mainboard IPOs, several SME IPOs will also open for subscription, including Khyati Global Ventures, which will launch its public issue on October 4. The company exports FMCG products worldwide. Its portfolio includes various food products, ready-to-eat products, confectioneries, snacks, and general provision items.

The Khyati Global Ventures IPO is a fixed-price issue of ₹18.3 crore. Shares will be offered at ₹99 apiece in a lot size of 1,200 units.

The IPO is a combination of fresh issuance of 10.48 lakh shares, aggregating to ₹10.38 crore, and an OFS component of 8 lakh shares, aggregating to ₹7.92 crore.

The issue will close for subscription on October 8. The allotment is expected to be finalised on October 9. The IPO will be listed on the BSE SME platform on October 11.

IPOs scheduled to close for bidding this week

• SME IPOs of Saj Hotels Ltd and HVAX Technologies Ltd, which had opened for subscription on September 27, will close on October 1.
• Two more SME IPOs, Paramount Dye Tec Ltd and Subam Papers Ltd, opened on September 30 and will close for bidding on October 3.
• NeoPolitan Pizza and Foods Ltd.'s SME IPO will close for subscription on October 4. The IPO opened on September 30.

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