IPO Update: Solar panel maker Waaree Energies and digital payment firm One Mobikwik Systems have received approval from the Securities and Exchange Board of India (SEBI) for initial public offerings (IPOs). Waaree Energies had submitted its IPO documents in December 2023 and Mobikwik in January 2024. Both the companies were given the green signal by SEBI on September 19 to bring public issues.

What is the plan of the companies?

According to the draft documents (DRHP) of Wari Energies, new shares worth Rs 3,000 crore will be issued in its proposed IPO. Apart from this, the promoters and existing shareholders will also bring a sale offer (OFS) of 32 lakh equity shares. Mobikwik wants to raise up to Rs 700 crore through IPO. This issue will be entirely based on new equity shares. Mobikwik is a payment platform like Paytm, PhonePe, and Freecharge.

NTPC Green IPO

NTPC Green Energy, a subsidiary of public sector power company NTPC, may launch an initial public offering (IPO) in the first week of November to raise Rs 10,000 crore. NTPC Green Energy filed documents with the capital market regulator Securities and Exchange Board of India (SEBI) last week to raise Rs 10,000 crore through IPO. The IPO may come in the first week of November this year. The company has planned to conduct road shows in India (Mumbai) as well as abroad, especially in Singapore.

According to the IPO documents, the company's issue will be entirely based on the offering of fresh shares and will not include any offer for sale (OFS).