The Indian IPO market is poised for two significant debuts tomorrow, November 13, 2024, with Swiggy and ACME Solar Holdings set to list their shares on the BSE and NSE. Here's everything you need to know about these IPOs, from subscription details to Grey Market Premium (GMP) insights.

Swiggy IPO Subscription and Investor Response

Swiggy, the Bengaluru-based leader in food and grocery delivery, recently concluded its IPO offering a total issue size of ₹11,327 crores. This book-built issue was offered at a price band of ₹371 to ₹390 per share and was open for subscription from November 6 to November 8, 2024. The IPO saw significant interest, especially from institutional investors.

• Subscription Details:
  • Retail Investors: Subscribed 1.14 times, indicating modest demand from individual investors.
  • Qualified Institutional Buyers (QIB): Showed strong interest, subscribing 6.02 times, reflecting institutional confidence in Swiggy's business model and growth potential.
  • Non-Institutional Investors (NII): Subscribed only 0.41 times, suggesting limited interest from high-net-worth individuals (HNIs).

IPO Allotment and Listing: The final allotment for Swiggy's IPO is set to be completed by November 11, 2024, with shares credited to investors’ demat accounts by November 12, 2024. Shares will begin trading on the BSE and NSE on November 13, 2024.

Grey Market Premium (GMP): The GMP for Swiggy IPO is ₹0, reflecting the cautious market sentiment surrounding the company’s financial performance. It’s important to remember that GMP is an informal, unregulated market used for informational purposes and may not reflect actual listing performance.

ACME Solar IPO Subscription and Key Details

ACME Solar Holdings, a leading renewable energy player in India, opened its IPO with a total issue size of ₹29,000 crores, which includes a fresh issue of ₹2,395 crores and an offer for sale of ₹505 crores. The price band for the IPO is set between ₹275 and ₹289 per share.

• Subscription Details:
  • Retail Investors: Displayed strong interest, subscribing 3.25 times, which indicates a high level of confidence in the renewable energy sector.
  • Qualified Institutional Buyers (QIB): Subscribed 3.72 times, showing robust demand from institutional investors.
  • Non-Institutional Investors (NII): Subscribed 1.02 times, reflecting moderate interest from HNIs.

IPO Allotment and Listing: Similar to Swiggy, ACME Solar's IPO allotment will be finalized by November 11, 2024, and shares will be credited to demat accounts by November 12, 2024. The company’s shares are also set to list on the BSE and NSE on November 13, 2024.

Grey Market Premium (GMP): No official GMP data is available for ACME Solar IPO, though some informal market reports might give an indication of demand. Like with Swiggy, GMP should not be relied upon for concrete price predictions but can give a general sense of investor sentiment.

Final Thoughts: Key Insights for Investors

The listing of both IPOs on November 13, 2024, will mark an important milestone for both Swiggy and ACME Solar. Swiggy's IPO received overwhelming institutional support, which could bode well for its market performance on listing day, while ACME Solar's strong retail participation reflects growing confidence in the renewable energy sector.

• Swiggy is entering a competitive market, but its strong position in food and grocery delivery may help it thrive in the long term.
• ACME Solar, with its focus on renewable energy, is capitalizing on the growing demand for clean energy solutions in India, which has attracted strong retail participation.

Investors should watch these listings closely to understand how the market perceives the Swiggy and ACME Solar IPOs. The price action on the BSE and NSE will provide insight into how well these companies are poised to perform in the public market and offer critical lessons for future IPOs in India.

Keep an eye on listing day movements and be prepared to make informed decisions based on the market’s reception to these two exciting stocks.

The Upcoming IPOs in this week and coming weeks are Onyx Biotec, Rosmerta Digital, NTPC Green, Avanse Financial, Nisus Finance and Black Buck.

The Current active IPO are  Neelam Lines and Garments and Mangal Compusolution.

For more insights into financial trends , visit our Top News Headlines. You can also explore investment opportunities in the market and apply for upcoming IPOs through our Best IPO to Apply Now section.