Upcoming IPOs: 6 Companies Ready to Go Public

Upcoming IPOs: 6 Companies Ready to Go Public
  • Six companies are set to launch IPOs.
  • NTPC Green Energy is India's largest renewable company.
  • Acme Solar Holdings is a top renewable power producer.

The Indian primary market is poised for a flurry of activity in the coming weeks with six companies from diverse sectors preparing to launch their initial public offerings (IPOs). These companies, having received final clearance from the Securities and Exchange Board of India (SEBI), are gearing up to tap into the public market for capital. Among the anticipated IPOs, NTPC Green Energy, Acme Solar Holdings, Mobikwik, Sagility India, Zinka Logistics, and Niva Bupa stand out as potential market entrants. While most have secured SEBI's approval, NTPC Green awaits final observation.

NTPC Green Energy, a subsidiary of the state-owned NTPC, emerges as the nation's largest renewable public sector company (excluding hydro), based on its operational capacity and energy production as of June 2024. Its impressive portfolio comprises 14,696 MW of projects, with 2,925 MW already operational and 11,771 MW contracted. The company also has an ambitious development pipeline of 10,975 MW, bringing its total capacity to 25,671 MW. NTPC Green's asset base stretches across multiple states, with solar and wind energy projects strategically located to manage geographic variability in generation, ensuring a reliable energy supply.

Acme Solar Holdings, another key player in the IPO lineup, is a prominent name among India's leading independent renewable power producers. The company has evolved from solely focusing on solar projects to adopting a comprehensive approach encompassing all aspects of renewable energy. Acme handles its engineering, procurement, and construction (EPC) as well as operations and maintenance (O&M), enabling it to generate revenue through electricity sales to both state and central entities. This integrated approach reflects Acme's commitment to driving sustainable energy solutions.

One Mobikwik Systems, a well-established payment platform in India, aims to connect consumers and merchants efficiently. Founded by Bipin Preet Singh and Upasana Taku, Mobikwik has prioritized financial inclusion by providing essential payment and economic solutions. Its offerings encompass Kwik QR, EDC Machines, and Merchant Cash Advance, catering to a diverse user base. Mobikwik's subsidiary, Zaakpay, operates a B2B payment gateway for e-commerce, leveraging its Payment Aggregator (PA) license granted by the Reserve Bank of India (RBI).

Sagility India, a leading technology service provider focused on healthcare, offers solutions designed for both healthcare payers and providers. Established in 2021 in Bengaluru, Sagility has carved a niche for itself by providing critical services like claims management, clinical services, and revenue cycle management for healthcare providers. Its expertise also extends to assisting pharmacy benefit managers. Sagility's technological prowess aims to streamline healthcare operations and improve efficiency within the sector.

Zinka Logistics, with its sights set on modernizing India's trucking industry, seeks to transform the landscape through its innovative platform. The company's BlackBuck app equips truck operators with a comprehensive set of tools for managing payments, utilizing telematics, and accessing vehicle financing. Zinka Logistics also provides financing options for commercial vehicle purchases, facilitating the acquisition of vehicles. By March 2024, the company had facilitated 4,035 loans worth ₹196.79 crore, demonstrating its impact on the sector. Zinka generates revenue through fees and loan-related charges, reflecting its comprehensive approach to supporting the trucking industry.

These IPOs, representing a diverse range of sectors, indicate a positive outlook for the Indian capital market. Investors will be closely watching these developments as they represent opportunities to participate in the growth stories of these companies. The success of these IPOs will depend on factors such as market sentiment, investor appetite, and the companies' long-term growth prospects.

Source: Upcoming IPOs: NTPC Green Energy to Acme Solar Holdings — 6 issues that may go public in next one month

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