Next week the primary market anticipates the IPO of Swiggy, along with four other offerings. Included are Acme Solar Holdings, Sagility India, and Niva Bupa Healthcare. Neelam Linens will debut in the SME segment. Swiggy aims to utilize IPO proceeds for investment in subsidiary Scootsy, technology, cloud infrastructure, and brand marketing.
Jefferies views IndiGo as unique and strong franchise, raises target price to Rs 5,260
The IndiGo stock has underperformed following a significant miss in the company’s 2Q results, driven by higher costs impacting profitability. However, Jefferies expects cost normalization