There has been a lot going on in the initial capital markets, buzzing with IPOs for most of the year. With September seeing most IPOs, October being the dull month for initial capital markets. In September 2024, the markets’ watchdog saw offer documents of 41 companies for IPO. Later in October, India might see its biggest IPO ever along with the food-delivery company, Swiggy, launching its IPO. While in the second week of October, there will be a total of three IPOs, combining both mainboard and SME IPOs. Here’s a list of IPOs to open next week: 

Mainboard IPO 

Garuda Construction and Engineering 

The company raising Rs 264.10 crore will open the issue on October 08. The IPO will close on October 10. It will raise the funds through a sale of fresh shares and an OFS. The major part of the IPO consists of fresh shares. The company’s IPO price band ranges between Rs 92 to Rs 95 per equity share. The allotment of shares will likely be finalised on October 11 and listing on October 15, as per the tentative schedule. Corpwis Advisors is the sole book-running lead manager and Link Intime India registrar for the issue.

SME IPOs

Khyati Global Ventures 

The SME company will raise a sum of Rs 18.30 crore. The issue is a combination of a fresh issue and an offer for sale. The IPO has a fixed price band of Rs 99 a piece. The company opened its IPO on October 04. It will close on October 08. The allotment of shares will likely be finalised on October 09. The listing on the BSE SME platform is expected on October 11. Khyati Global Ventures is an exporter and repacker of a variety of FMCG products. The company also deals in the packaging of pharmaceutical products.

Shiv Texchem

The company will launch its IPO on October 08, raising funds worth Rs 101.35 crore. The IPO is entirely a sale of 6.1 million fresh shares. The company’s IPO price band ranged from Rs 158 to Rs 166 per equity share. The SME IPO will close on October 10. The allotment will likely be finalised on October 11. The listing on the BSE SME platform is expected on October 15. Shiv Texchem imports and distributes hydrocarbon-based secondary and tertiary chemicals, which are important raw materials for a lot of industries.

Upcoming IPOs in October 

Hyundai India 

Hyundai Motor India is expected to launch India’s biggest ever Rs 25,000 crore initial public offer on October 14, according to news reports. After almost two decades, an automaker is launching its IPO, Maruti Suzuki was the last to offer an initial shares subscription in 2003. Hyundai India’s IPO will entirely be an offer for sale of 142.19 million shares, as per the DRHP filed in June. 

Swiggy

Swiggy is likely to raise up to Rs 11,664 crore or $1.4 billion. The company received shareholder approval to increase the size of its IPO by Rs 1,250 crore on October 03. Now, the company will raise fresh capital worth Rs Rs 5,000 crore instead of Rs 3,500 crore. The offer-for-sale component remains unchanged at Rs 6,664 crore. The IPO is expected to hit the markets later in October.