Today 2 Initial Public Offers i.e. IPOs have opened for listing in the stock market. These include Swiggy Limited and ACME Solar Holdings Limited. Investors can bid for both IPOs till November 8. On November 13, the shares of both the companies will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Let us know about the IPOs of these two companies one by one. 1. Swiggy Limited
Swiggy wants to raise Rs 11,327.43 crore through IPO. For this, the company is issuing 11,53,58,974 fresh shares worth Rs 4,499 crore. Whereas, the existing investors of the company are selling 17,50,87,863 shares worth Rs 6,828.43 crore through Offer for Sale i.e. OFS. Retail investors can bid for maximum 494 shares
Swiggy Limited has fixed the price band of IPO at ?371-?390. Retail investors can bid for minimum one lot i.e. 38 shares. If you apply for 1 lot as per the upper price band of IPO of ?390, then you will have to invest ?14,820 for this. At the same time, retail investors can apply for maximum 13 lots i.e. 494 shares. For this, investors will have to invest ?192,660 as per the upper price band. Swiggy’s revenue increased by 36% in FY 2024
Swiggy’s revenue increased by 36% to Rs 11,247 crore in FY 2024, which was Rs 8,265 crore in the previous financial year. At the same time, the company also reduced its loss by 44% during this period and it stood at Rs 2,350 crore in FY 2024, from Rs 4,179 crore in the previous year. The company has been able to reduce its loss by controlling its costs. Although Swiggy’s performance is less than Zomato, it has still reduced the gap with its rival in FY24. Zomato recorded a revenue of Rs 12,114 crore in FY 2024, while Swiggy’s revenue was Rs 11,247 crore. Similarly, Zomato made a profit of Rs 351 crore, while Swiggy’s loss was Rs 2,350 crore. 2. ACME Solar Holdings Limited
ACME Solar Holdings wants to raise a total of Rs 2,900 crore through IPO. For this, the company is issuing 82,871,973 fresh shares worth ?2,395 crore. Whereas, the existing investors of the company are selling 17,474,049 shares worth ?505 crore through Offer for Sale i.e. OFS. Retail investors can bid for a maximum of 494 shares. ACME Solar Holdings has fixed the price band of the IPO as ?275-?289. Retail investors can bid for a minimum of one lot i.e. 51 shares. If you apply for 1 lot as per the upper price band of the IPO of ?289, then you will have to invest ?14,739 for it. At the same time, retail investors can apply for a maximum of 13 lots i.e. 663 shares. For this, investors will have to invest ?191,607 as per the upper price band. ACME Solar Holdings was established in June 2015
CME Solar Holdings Limited was established in June 2015, which produces electricity from renewable energy sources. The company is one of the largest companies in India that produces electricity from wind and solar energy. The company works on the development, construction, ownership, operation and maintenance of large-scale renewable energy projects. 10% of both IPOs reserved for retail investors
Both the companies have reserved 75% of their IPOs for Qualified Institutional Buyers (QIB). Apart from this, 10% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII). What is an IPO?
When a company issues its shares to the general public for the first time, it is called an Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.
