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IPO Updates: Swiggy & ACME Solar listing dates; Niva Bupa allotment & Zinka Logistics GMP
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IPO Updates: Swiggy & ACME Solar listing dates; Niva Bupa allotment & Zinka Logistics GMP

It’s an action-packed week for primary markets, with plenty of action for primary market investors. The current week will witness the listings of companies such as Swiggy and ACME Solar Holdings, followed by the allotment and listing of Niva Bupa Health Insurance. Also, a new Zinka Logistics Solutions will open for bidding today.

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

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

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

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

Nyati has a similar view on ACME Solar; it anticipates potential for near-term volatility. “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 likely to finalize its share allocation basis on Tuesday, November 12th. The Rs 2,200 crore IPO was held for subscription from November 7-11, registering a total subscription of just 1.80 times. The company will be listed on Thursday, November 14, and the allotment base will be finalized in a day or two.

Investors who still have an appetite for the primary market will also have the chance to apply for the Zinka Logistics Solutions (Blackbuck) IPO, which opens on Wednesday, November 13. It is offering its shares in the range of Rs 259 -273 apiece, where investors can apply for a minimum of 54 shares and their multiples thereafter.

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

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