Business Business: Two popular IPOs are expected to be launched in the country in the next few days. Both the companies are the Indian arm of South Korean automaker Hyundai and food and grocery supplier Swiggy. The IPOs of both these companies have got SEBI approval. Nonetheless, other companies are also preparing to enter the IPO race. The name of this company is NTPC Green Energy. The company, a subsidiary of NTPC, is preparing to launch an IPO of Rs 10,000 crore by November. The renewable energy company filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on September 18, planning to raise about Rs 10,000 crore through a public issue. The IPO is expected to come in November.
South Korean automaker Hyundai plans to raise at least $3 billion (about Rs 25,000 crore) through an IPO, while Swiggy’s IPO is likely to be more than Rs 10,000 crore. If Hyundai Motor India’s IPO is successful, it will be India’s largest public offering. Earlier, the country’s largest IPO was Life Insurance Company of India (LIC) of ₹21,000 crore. Let us tell you that the IPO documents were filed in June. Accordingly, the IPO will be entirely based on a sale offer (OFS) of 14,21,94,700 shares of promoter Hyundai Motors.
Swiggy had submitted the documents on April 30 through the confidential pre-filing route. Officials said that after SEBI’s approval under the confidential filing process, Swiggy plans to file two updated ‘draft prospectuses’ (documents). One is to get feedback from regulators and the other is to receive public comments within 21 days. Swiggy can launch the IPO after filing the final documents. Swiggy has received shareholder approval for the IPO to raise Rs 10,414 crore through new shares and offer.
