Waaree Energies Ltd, India’s largest solar PV module manufacturer, is launching its highly anticipated Initial Public Offering (IPO). Here are the essential details that investors need to know:

IPO structure

Fresh issue: Rs 3600 crore
Offer for Sale (OFS): Up to 4.8 million shares by existing shareholders and promoters.
Waaree Sustainable Finance: Offering up to 4.35 million shares.
Chandurkar Investments Pvt Ltd: Offering up to 4.5 lakh shares.
IPO subscription period: Opens on October 21, 2024, and closes on October 23, 2024.
Anchor bidding: Begins on October 18, 2024.
Allotment finalization: Scheduled for October 24, 2024.
Market debut: The company’s shares are expected to be listed on October 28, 2024.

The funds raised from the IPO will be used to finance a 6GW Ingot Wafer, Solar Cell, and Solar PV Module facility in Odisha. This project will be executed through Sangam Solar One Private Limited, a subsidiary of Waaree Energies Ltd. The investment is aimed at expanding Waaree’s production capacity, enhancing its role in India’s renewable energy sector.

The IPO is being managed by a consortium of top financial institutions, including:
Axis Capital
IIFL Securities
Jefferies India
Nomura Financial Advisory and Securities
SBI Capital Markets
Intensive Fiscal Services
ITI Capital

Waaree Energies Ltd is the largest solar PV module manufacturer in India, with an installed production capacity of 12GW as of June 30, 2024. Since its establishment in 2007, the company has focused on providing cost-effective and sustainable solar energy solutions. Over the years, it has grown its operations significantly, including adding a 1.3GW facility in Noida through its subsidiary Indosolar.

The company operates five factories across Gujarat and Uttar Pradesh. It specializes in a range of technologies, including multi-crystalline, monocrystalline, and advanced Tunnel Oxide Passivated Contact (TOPCon) technology for higher efficiency. Waaree’s product lineup includes flexible and bifacial designs, as well as building-integrated PV modules, catering to diverse customer needs.

Waaree Energies Ltd has demonstrated strong financial growth:
FY24rRevenue: Rs 3408.9 crore, up from Rs 3328.29 crore in FY23.
EBITDA: Rs 639.98 crore in FY24, compared to Rs 554.29 crore in FY23.
Net profit: Rs 401.12 crore in FY24, up from Rs 338.27 crore in FY23.
Total debt: Rs 513.24 crore in FY24, increasing from Rs 277.99 crore in FY23.

Waaree Energies Ltd’s upcoming IPO offers investors an opportunity to participate in India’s renewable energy growth story. As the country’s largest solar PV module manufacturer, Waaree is well-positioned to benefit from the increasing demand for solar energy. The funds raised through this IPO will allow the company to expand its production capabilities, supporting India’s transition to cleaner energy sources.

Dr Agarwal’s Health Care, an eye care services provider backed by Temasek Holdings and TPG, has filed preliminary documents with the capital markets regulator to raise an estimated Rs 3,000-3,500 crore through its initial public offering (IPO). This marks a significant move for the company, which is a leader in India’s eye care services market.

The IPO will consist of two main components:

Fresh issue of shares up to Rs 300 crore
Offer For Sale (OFS) of up to 6.95 crore equity shares by promoters and selling shareholders, including Arvon Investments Pte. Ltd, Claymore Investments (Mauritius) Pte. Ltd, and Hyperion Investments Pte. Ltd.

In addition, a portion of the IPO will be reserved for eligible employees, as detailed in the company’s draft red herring prospectus (DRHP). According to the draft papers filed, the fresh issue proceeds Rs 195 crore will primarily be used to reduce debt. The remaining funds will go towards general corporate purposes and potential unidentified acquisitions as part of the company’s expansion plans.

Dr Agarwal’s Health Care has built a strong reputation in India, offering a broad range of eye care services including:
Cataract surgeries
Refractive surgeries
Consultations
Diagnosis
Non-surgical treatments

The company also sells optical products, contact lenses, accessories, and eye care-related pharmaceutical items. According to a CRISIL MI&A report, Dr Agarwal’s Health Care commanded 25% of the total eye care service chain market in India during FY 2024.

As of March 31, 2024, Dr Agarwal’s Health Care operated 180 facilities, of which 165 were in India, with a significant presence in South India, particularly in Chennai, Hyderabad, and Bengaluru, followed by Western India. This extensive network has helped the company maintain its strong position in the eye care market.

On the financial front, Dr Agarwal’s Health Care reported:
Revenue from operations: Rs 1,332.15 crore in Fiscal 2024
Profit after tax: Rs 95.05 crore

The IPO is being led by several prominent investment banks, including Kotak Mahindra Capital Company, Morgan Stanley India Company, Jefferies India, and Motilal Oswal Investment Advisors.
With strong financial performance and ambitious expansion plans, Dr Agarwal’s Health Care’s IPO is expected to attract significant interest from both institutional and retail investors. The funds raised will not only help in reducing the company’s debt but also fuel future growth through potential acquisitions and broader market penetration.

NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Ltd, has entered a joint venture with Mahatma Phule Renewable Energy and Infrastructure Technology Ltd. (MAHAPREIT) to develop 10 GW of renewable energy parks across India, including Maharashtra. This initiative aligns with NGEL’s strategy as it gears up for a much-anticipated Rs 10,000-crore Initial Public Offering (IPO), which could become one of India’s largest IPOs in 2024.

According to the joint venture agreement, the new company will focus on developing renewable energy projects not only in Maharashtra but also in other states across India. The agreement was signed on September 26 by Rajiv Gupta, CEO of NGEL, and Bipin Shrimali, Managing Director of MAHAPREIT, in Mumbai.

Earlier this month, NTPC Green Energy filed a draft red herring prospectus (DRHP) with SEBI for the IPO, which will be an entirely fresh issue of equity shares. The IPO includes a special quota for NTPC Ltd shareholders, allowing investors who hold shares as of the filing date to participate in up to 10% of the offering.

As the JV prepares to develop 10 GW of renewable energy capacity, NGEL’s IPO is attracting significant attention from the market, positioning itself as a major player in India’s renewable energy landscape.

NGEL was established by NTPC, India’s largest power utility, to focus exclusively on renewable energy projects. As part of NTPC’s long-term vision to reduce its carbon footprint and shift towards sustainable power generation, NGEL is tasked with accelerating the adoption of clean energy technologies, including solar, wind, and hybrid energy projects. NTPC has set an ambitious goal of achieving 60 GW of renewable energy capacity by 2032, and NGEL is central to this strategy. Currently, NTPC’s total installed renewable energy capacity stands at around 2.3 GW, but with NGEL leading the charge, the company aims to rapidly scale this capacity over the next decade.

NTPC Green Energy Limited is poised to play a pivotal role in India’s renewable energy future. With ambitious projects, innovative technologies, and a landmark IPO on the horizon, NGEL is set to drive the country’s transition to a cleaner and greener energy landscape. As India strives to meet its climate goals, NTPC Green Energy stands at the forefront, ready to power the nation with sustainable solutions.

Swiggy is gearing up for a highly anticipated IPO, filing its updated Draft Red Herring Prospectus (DRHP) as it eyes a significant slice of India’s massive Rs 2 lakh-crore food delivery market. Investors, eager to diversify their portfolios, will watch closely as Swiggy faces a tough profitability challenge amid fierce competition from Zomato, BigBasket, and others.

Founded in 2014 by Sriharsha Majety, Nandan Reddy, and Rahul Jaimini, Swiggy has evolved from a food delivery service into a tech-driven platform offering hyperlocal delivery solutions. With over 1.5 lakh restaurant partnerships across India, the company has secured a strong presence in major cities and tier-2 towns alike.

Swiggy’s IPO will include a fresh issue worth Rs 3,750 crore and an offer for sale (OFS) exceeding Rs 6,500 crore, bringing the total IPO size to over Rs 10,000 crore. This strategic move offers an alternative to Zomato, which listed in 2021, for investors looking to broaden their stakes in the food delivery sector.

Global investors such as SoftBank Vision Fund, Prosus, Accel, and Elevation Capital hold major stakes in the company, with high-profile individuals like Amitabh Bachchan, Madhuri Dixit, and cricketers Rahul Dravid and Zaheer Khan also investing in Swiggy’s pre-IPO shares.

While Swiggy’s revenue surged by 36% to Rs 11,247 crore in FY24, the company is still battling losses, albeit reduced. Its losses stood at Rs 2,350 crore, a significant improvement from Rs 4,179 crore in FY23. However, recent quarterly results showed a slight uptick in losses, raising concerns over the company’s ability to achieve profitability. This comes as Zomato reported a net profit of Rs 351 crore on revenues of Rs 12,114 crore for FY24, underscoring the gap between the two rivals.

Swiggy’s diversified offerings, including Instamart for grocery delivery, position it well in the broader quick-commerce segment. However, competition is intensifying as Walmart (via Flipkart) and BigBasket push deeper into the space. The company’s strategy of reduced discounts, tighter cost controls, and product diversification aligns with the industry’s shift towards integrated services.

Swiggy and Zomato collectively control over 90% of India’s food delivery market. With Zomato already establishing itself as a public market favorite, thanks to its profitability and Blinkit acquisition, Swiggy faces the challenge of convincing investors that it can follow suit.

Swiggy’s IPO not only provides an exit route for early investors but also presents an opportunity to raise capital for further growth. Last valued at $10.7 billion, the company is expected to seek a valuation between $10 billion and $13 billion when it goes public. The listing comes at a time when India’s IPO market is buoyant, adding excitement to Swiggy’s public debut.

Swiggy’s IPO marks a crucial step in the company’s journey, but challenges remain. As it seeks to raise funds and narrow its losses, Swiggy must navigate a competitive landscape dominated by key players like Zomato, BigBasket, and Flipkart. Investors will be keen to see how Swiggy positions itself for long-term profitability in India’s growing food and quick-commerce market.

Hyundai Motor India Limited (HMIL), the Indian arm of South Korean auto giant Hyundai Motor Co, is gearing up to launch a massive $3 billion IPO, which could become the largest initial public offering (IPO) in India’s corporate history. This offering is set to surpass the previous record held by the $2.7 billion IPO of Life Insurance Corporation (LIC) in 2022.
India’s market regulator SEBI has given the green light for the IPO expected to launch in October after reviewing the draft papers filed by Hyundai in June. Once finalized, this IPO, structured as an Offer for Sale (OFS) by the promoter, will not only mark Hyundai’s debut on the Indian stock exchanges but will also make it India Inc.’s largest-ever IPO.

Key details of Hyundai Motor India’s IPO

IPO size: Hyundai Motor India is aiming to raise around $3 billion through its IPO, with a target valuation ranging between $18 billion and $20 billion.

Offer structure: The IPO involves the sale of 142,194,700 equity shares with a face value of ₹10 each by the Promoter Selling Shareholder.

Strategic benefits: Hyundai expects the listing to enhance its visibility, brand image, and provide increased liquidity in the Indian market.

As of FY24, Hyundai Motor India was the second-largest car manufacturer in India, trailing only behind Maruti Suzuki in terms of passenger vehicle sales. Hyundai offers a diverse portfolio of 13 models, including sedans, hatchbacks, SUVs, and battery electric vehicles (EVs), and has played a crucial role in India’s automotive export market.

Hyundai has been the second-largest auto original equipment manufacturer (OEM) in India’s passenger vehicle market since Fiscal 2009. The company has been India’s largest exporter of passenger vehicles since Fiscal 2005, contributing significantly to Hyundai Motor Co’s global sales, with its share rising from 15.48% in 2018 to 18.19% in 2023.

Hyundai’s planned IPO comes at a time when its main competitor, Maruti Suzuki, has seen a 20.25% rise in share prices over the past year, with a market cap of approximately ₹4,00,000 crore ($48 billion). The listing of Hyundai’s Indian arm is expected to attract significant investor attention, potentially altering the competitive landscape in India’s automotive sector.

While Hyundai’s IPO is poised to make a significant impact, it comes amid an environment of geopolitical shocks and supply chain disruptions that could affect global commodity prices. The current account deficit is expected to widen, adding to the challenges for the Indian economy. However, Hyundai’s strong position in both domestic sales and exports provides a stable foundation for its future growth.

With SEBI’s final approval, Hyundai’s much-anticipated $3 billion IPO is set to not only break records but also further strengthen the company’s standing in the Indian automotive market and beyond

Diffusion Engineers, a leading provider of repair and reconditioning services for heavy machinery, is set to launch its Initial Public Offering (IPO) on September 26, 2024 with a price band of Rs 159-168 per share. The Maharashtra-based company, which also manufactures welding consumables. Here’s a detailed look at the upcoming IPO and the company’s financial performance.

IPO key details

IPO opening date: September 26, 2024

IPO closing date: September 30, 2024

Anchor book date: September 25, 2024

Issue size: Fresh issue of 94.05 lakh equity shares

Price band: Rs 159-168 per share

Listing date: October 4, 2024

Lead manager: Unistone Capital

Registrar: Bigshare Services

Incorporated in 1982 and owned by the Garg family, Diffusion Engineers is a well-established name in the heavy machinery and equipment industry. The company also trades in anti-wear powders and welding and cutting machinery. With four manufacturing units located in Nagpur, Maharashtra, Diffusion Engineers plans to expand its portfolio by manufacturing powders for corrosion and abrasion resistance to be used in welding applications.

Financial Performance: FY24

Diffusion Engineers has demonstrated solid financial growth in FY24:

Revenue: ₹278.1 crore, reflecting a 9.1% growth from ₹255 crore in FY23.

Profit: ₹30.8 crore, a 39.1% increase compared to the previous year, driven by improved operational efficiency.

EBITDA: ₹38.9 crore, marking a 39.4% growth, with EBITDA margins expanding by 310 basis points to reach 14% in FY24.

The company aims to diversify its welding consumables portfolio by incorporating new products like corrosion-resistant powders. More than 90% of Diffusion Engineers’ revenue comes from the domestic market, while the remaining portion is generated through exports. With steady revenue and profit growth, the company is well-positioned to continue its expansion and cater to the increasing demand in the heavy engineering sector.

Diffusion Engineers’ IPO offers a solid opportunity for investors, particularly those looking at the heavy machinery and engineering sector. The company’s strong financial performance, strategic expansion plans, and growing demand for its services make it an attractive prospect.

The Initial Public Offering (IPO) of Manba Finance Limited opened today, offering investors a fresh opportunity to enter the financial sector. The public issue, worth ₹150.84 crore, will remain open for subscription until 25th September 2024. Below are the key details and expert insights about this IPO.

Manba Finance IPO key highlights

Issue size: ₹150.84 crore

IPO price band: ₹114 to ₹120 per equity share

IPO dates: 23rd September 2024 to 25th September 2024

Lead manager: Hem Securities Limited

Registrar: Link Intime India Private Limited

Stock exchanges for listing: BSE and NSE

Listing Date (Tentative): 30th September 2024

Share allocation and subscription status

The Manba Finance IPO consists entirely of fresh shares, aiming to raise ₹150.84 crore to strengthen the company’s capital base. Promoters currently hold a 100% stake in the company, and the issue allocation is divided into:

Qualified Institutional Buyers (QIBs): 50% of the issue

Retail Individual Investors (RIIs): 35% of the issue

Non-Institutional Investors (NIIs): 15% of the issue

On the opening day, the IPO witnessed an impressive subscription, with the issue getting subscribed 11.20 times by 1 PM. The non-institutional investor portion saw the highest demand, with 16.01 times subscription, followed by 14.69 times for retail investors, and 1.50 times for qualified institutional buyers.

Manba Finance shares are actively trading in the grey market, where stock market observers report a premium of ₹60 to ₹64 per share. This translates to a 53% premium over the upper price band of ₹120, indicating strong demand ahead of the official listing.

Manba Finance Limited is a Non-Banking Financial Company (NBFC) based in Maharashtra, specializing in loans for two-wheelers, three-wheelers, used cars, and small businesses. The company operates in 66 locations across six states—Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh, and Uttar Pradesh.

Over the past two years, the company has demonstrated robust financial growth:

Assets Under Management (AUM): Increased to ₹936.85 crore in FY24, up from ₹495.82 crore in FY22, reflecting a CAGR of 37.5%.

Profit After Tax (PAT): Grew significantly by 89.5%, reaching ₹31.41 crore in FY24 from ₹16.58 crore in FY23.

Revenue: Increased by 44% to ₹191.58 crore in FY24, up from ₹133.32 crore in FY23.

Manba Finance’s lending model, which includes an average borrowing cost of 11.98% and lending rates above 20%, has also contributed to its strong return on capital employed (ROCE) margins, improving from 6.42% to 15.66%.

Manba Finance’s IPO has garnered significant attention from both institutional and retail investors, with its high grey market premium and strong first-day subscription figures indicating investor confidence. The company’s steady financial growth, combined with its expansion into personal and business loans, suggests it is well-placed to benefit from the rising demand in India’s NBFC sector. Investors looking for a high-growth opportunity, particularly in the lending space, may find Manba Finance’s IPO a promising investment.

Ola Electric, led by Bhavish Aggarwal, is set to open its much-anticipated IPO to investors on August 02, aiming to raise a substantial Rs 6,145.56 crore. This amount will be garnered through the issuance of fresh shares and an offer for sale. The IPO will close on August 06.

Key details of the IPO

• Total amount to be raised: Rs 6,145.56 crore
• Fresh shares: Rs 5,500 crore through 72.37 crore new shares
• Offer for sale: Rs 645.56 crore through 8.49 crore shares by promoters and other shareholders
• Issue price band: Rs 72 to Rs 76 per equity share
• Grey market premium: Approximately 16%
• IPO open date: August 02
• IPO close date: August 06
• Allotment of shares: Expected by August 07
• Listing date: Tentatively August 09 on NSE and BSE
• Retail subscribers: Minimum of one lot containing 195 shares, amounting to Rs 14,820.
• Small NIIs: Minimum lot size of 14 containing 2,730 shares.
• Big NIIs: Lot size of 68 containing 13,260 shares.

According to the papers filed with SEBI, Ola Electric is a leading player in India’s EV sector, focusing on vertically integrated technology and manufacturing capabilities. The company is building an EV hub in Tamil Nadu, which includes the Ola Futurefactory for EV manufacturing, Ola Gigafactory for cell manufacturing, and co-located suppliers. Their direct-to-customer omnichannel distribution network includes 870 experience centers and 431 service centers across India as of March 31, 2024.

The lead book-runners for Ola Electric’s IPO are Kotak Mahindra Capital Company, BofA Securities India, Axis Capital, SBI Capital Markets, Citigroup Global Markets India, Goldman Sachs (India) Securities, ICICI Securities, and BoB Capital Markets. The registrar handling the IPO is Link Intime India.

Ola Electric’s IPO comes at a time when India is focusing on reducing its carbon footprint and enhancing energy security. With a 35% market share in India’s electric two-wheeler market in FY24, up from 21% in FY23, Ola Electric sold 3.29 lakh units in FY24, more than doubling its sales from the previous year.

Ola Electric has set the price band at Rs 72-76 per share for its IPO. At the upper end, the company’s valuation stands at Rs 33,500 crore (approximately $4 billion). The stock is trading at a grey market premium of Rs 12 per share to the upper band of the issue price, translating to a premium of around 16%. Market participants believe the grey market premium movement will be crucial in assessing the IPO demand.

Ola Electric’s IPO is a pivotal development in the green mobility space, reflecting its strategic focus and market leadership. The substantial funds raised through the IPO will support its ambitious plans and further bolster India’s position in the global EV market.

The eagerly anticipated initial public offering (IPO) of RNFI Services is set to open for subscriptions on Monday, July 22, and will close on Wednesday, July 24. The IPO price band is fixed between ₹98 and ₹105 per share, with a face value of ₹10. Investors can bid for a minimum of 1,200 shares and in multiples thereafter.

RNFI Services is a tech-enabled platform offering a wide range of financial technology solutions in the B2B and B2B2C sectors. The company’s services are delivered through an integrated business model via its online portal and mobile application. RNFI Services operates in four main business segments:

• Business correspondent services
• Non-business correspondent services
• Full-service money changer
• Insurance broking

With a focus on delivering digital, banking, and government-to-citizen (G2C) services across India, RNFI Services aims to bridge the financial gap in rural areas, bringing accessible and innovative financial technology solutions to the underserved.

RNFI Services IPO allocation and subscription details

The IPO will allocate shares across different investor categories as follows:

• Qualified Institutional Buyers (QIB): 12,72,000 equity shares
• Non-Institutional Investors (NII): 9,54,000 equity shares
• Retail Individual Investors (RII): 22,26,000 equity shares
• Market maker: 3,84,000 equity shares
• Financial Highlights (FY24)
  Sales: ₹93,542.38 lakhs
  EBITDA: ₹1,923.88 lakhs
  Profit: ₹996.07 lakhs

According to the red herring prospectus (RHP), RNFI Services’ listed peers include BLS E-Services Ltd, with a P/E of 55.30, and Mos Utility Ltd, with a P/E of 37.15. The RNFI Services IPO, worth ₹70.81 crore, consists entirely of a fresh issue of up to 6,744,000 equity shares.

Ranveer Khyaliya, Chairman & Managing Director of RNFI Services Ltd, expressed his excitement about the IPO, stating, “It is an immense pleasure to share this significant milestone in our journey as we prepare for our IPO. Since our inception, our mission has been to bridge the financial gap in rural India, bringing accessible and innovative financial technology solutions to the underserved. Our dedicated team and extensive network have enabled us to reach over 28 states and 5 union territories, processing more than 115 lakh transactions monthly till date.”

He further added, “Our IPO marks a new chapter in our journey. It is an opportunity to further our mission of financial inclusion and technological innovation. The funds raised will be used to enhance our service offerings, expand our network, and continue our commitment to empowering rural India. We are excited about the future and the potential to make a greater impact on the financial landscape of India.”

The RNFI Services IPO presents an exciting opportunity for investors looking to invest in a company with a strong mission and robust financial performance. With its focus on financial inclusion and technological innovation, RNFI Services is well-positioned to make a significant impact on the financial landscape of India. Be sure to mark your calendars for the subscription period from July 22 to July 24, and consider participating in this promising IPO.

The initial public offering (IPO) of Sanstar Limited opened on July 19, 2024, and will remain open until July 23, 2024. With a price band set at ₹90 to ₹95 per equity share, the IPO aims to raise ₹510.15 crore. Sanstar Limited plans to list on the BSE and NSE, with ₹397.10 crore being raised through fresh shares and ₹113.05 crore via the Offer for Sale (OFS) route.

The IPO has received an overwhelmingly positive response from investors. On the first day of bidding, the public issue was subscribed 4.16 times. The retail portion was booked 4.07 times, the Non-Institutional Investors (NII) segment saw 9.85 times subscription, while the Qualified Institutional Buyers (QIB) portion was subscribed 0.05 times.

Shares of Sanstar Limited have shown a strong performance in the grey market. As of today, the grey market premium (GMP) for Sanstar Limited is ₹46, an increase from ₹42 on Friday. This rise in GMP, despite weak sentiments on Dalal Street, highlights the robust subscription status and investor confidence.

Sanstar Limited is a leading manufacturer of plant-based specialty goods and ingredient solutions in India. The company produces ingredients, thickening agents, stabilizers, and sweeteners that enhance the flavor, texture, nutrition, and usefulness of meals. With an installed capacity of 1,100 tons per day from its two manufacturing plants in Dhule, Maharashtra, and Kutch, Gujarat, Sanstar exports its products to 49 countries and has a significant domestic presence.

Sanstar’s operating revenue has grown at a CAGR of 45.46% to ₹1,067.27 crore in FY24 from ₹504.40 crore in FY22. Profit after tax has increased to ₹66.77 crore in FY24 from ₹15.92 crore in FY22.

The proceeds from the IPO will be used for:

• Capital expenditure: ₹181.55 crore will be allocated for the development of the company’s Dhule facility.
• Debt repayment: ₹100 crore will be used to repay existing debt.
• General corporate purposes: The remaining funds will be used for various corporate needs.

Sanstar’s Red-Herring Prospectus (RHP) lists several risks:

• Raw material costs: Volatility in raw material costs could affect product pricing and financial performance.
• Supplier contracts: The lack of long-term contracts with suppliers may impact operations and costs.
• Working capital: High working capital requirements during peak maize harvesting season.
• Legal issues: Pending lawsuits could affect operational outcomes.
• Expansion delays: Delays in approvals and construction for the Dhule facility expansion could impact business.
• Export risks: Import tariffs, foreign currency fluctuations, and compliance issues could affect international operations.
• Growth management: Failure to manage growth initiatives could impact future financial performance.
• Financing restrictions: Compliance with financial covenants is crucial for operational flexibility.

IPO key dates

Bidding Period: July 19, 2024, to July 23, 2024
Allotment Date: Likely on July 24, 2024
Listing Date: Expected on July 26, 2024