In today’s briefing:
- NTPC Green Energy IPO: Offer Details & Index Inclusion Timeline
- INDIA: Index Changes Due to the 45 New Additions to the F&O Segment
- Zinka Logistics Pre-IPO – Continued Financial Underperformance in a Highly Fragmented Market
- Niva Bupa Health Insurance IPO Trading – Demand Lagged Recent Listings
- Go Digit IPO Lockup – Promoters and Investors Could Look to Sell in the US$2.1bn Release
NTPC Green Energy IPO: Offer Details & Index Inclusion Timeline
- NTPC Green Energy Ltd (2214556D IN) is looking to raise INR 100bn (US$1.19bn) in its IPO. That will value the company at INR 910bn (US$10.8bn) at the top end.
- The anchor allocations will be completed early next week, and the stock is expected to start trading on 27 November.
- The stock will not get Fast Entry to global indices with the earliest inclusion scheduled for June 2025. So, limited passive buying in the medium-term.
INDIA: Index Changes Due to the 45 New Additions to the F&O Segment
- The National Stock Exchange (NSEIN IN) has announced a list of 45 stocks that will be added to the Futures & Options (F&O) segment of the market from 29 November.
- There will be changes to the NIFTY Index, NSE Nifty Next 50 Index, S&P BSE SENSEX Index and the CNXIT Index over the next couple of rebalances.
- There are some interesting situations out there, including a change to the universe for the NSE Nifty Next 50 Index (NIFTYJR INDEX) that could lead to more changes.
Zinka Logistics Pre-IPO – Continued Financial Underperformance in a Highly Fragmented Market
- Blackbuck (1355652D IN) is looking to raise around US$130m in its India IPO.
- Zinka Logistics (Blackbuck) is India’s largest digital platform for truck operators (in terms of number of users), with 963,345 truck operators transacting on its platform in FY24, as per Redseer.
- In this note, we talk about the company’s historical performance.
Niva Bupa Health Insurance IPO Trading – Demand Lagged Recent Listings
- Niva Bupa Health Insurance (1226871D IN) raised around US$260m in its India IPO.
- Niva Bupa Health Insurance (Niva Bupa) is a health insurance firm. Its portfolio consists of health (including retail and group), personal accident, and travel insurance.
- We have looked at the company’s past performance and valuations in our earlier notes. In this note, we talk about the trading dynamics.
Go Digit IPO Lockup – Promoters and Investors Could Look to Sell in the US$2.1bn Release
- Go Digit General Insurance raised US$315m in its India IPO in May 2024, via selling a mix of primary and secondary shares. Its IPO lockup is set to expire soon.
- Go Digit General Insurance is a digital full stack insurance company, offering motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products.
- In this note, we will talk about the lockup dynamics and possible placement.
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