ACME Solar Holdings Limited and Swiggy Limited have opened for listing in the stock market.
Investors can bid for both IPOs till November 8. On November 13, the shares of both companies will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Let us know about the IPOs of these two companies one by one.
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 a maximum of 494 shares in Swiggy Limited
Swiggy Limited has fixed the price band of the IPO at ₹371-₹390. Retail investors can bid for a minimum of one lot i.e. 38 shares. If you apply for 1 lot as per the upper price band of the IPO of ₹390, then you will have to invest ₹14,820 for it.
At the same time, retail investors can apply for a maximum of 13 lots i.e. 494 shares. For this, investors will have to invest ₹192,660 as per the upper price band.
Swiggy’s revenue grew 36% in FY24
Swiggy’s revenue grew 36% to Rs 11,247 crore in FY24 from 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 stood at Rs 2,350 crore in FY24 from Rs 4,179 crore in the previous year. The company has been able to reduce its losses by keeping its costs under control.
Although Swiggy’s performance is less than that of Zomato, it has still reduced the gap with its rival in FY24. Zomato recorded a revenue of Rs 12,114 crore in FY24, while Swiggy’s revenue stood at Rs 11,247 crore. Similarly, Zomato made a profit of Rs 351 crore, while Swiggy’s loss was Rs 2,350 crore.
ACME Solar Holdings Limited
ACME Solar Holdings wants to raise a total of ₹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 an Offer for Sale i.e. OFS.
Retail investors can bid for a maximum of 494 shares in ACME Solar Holdings Limited
ACME Solar Holdings has fixed the price band of the IPO at ₹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 according to the upper price band.
ACME Solar Holdings was established in June 2015
ACME Solar Holdings Limited was established in June 2015, which produces electricity from renewable energy sources. The company is one of the largest wind and solar power-generating companies in India. The company develops, constructs, owns, operates and maintains large-scale renewable energy projects.
10% share in both IPOs is reserved for retail investors
Both companies have reserved 75% of their IPO 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).
