In a significant development for the Indian capital markets, the Securities and Exchange Board of India (SEBI) has recently approved the initial public offerings (IPOs) of three companies: Varindera Constructions Ltd, Ellenbarrie Industrial Gases Ltd, and Sambhv Steel Ltd. This move is anticipated to bolster the companies’ growth trajectories and provide investors with new opportunities.
Varindera Constructions Ltd, a prominent player in the construction sector, has received SEBI’s nod to proceed with its IPO. It plans to raise ₹1,200 crore through the issue, of which Rs 900 crore is a fresh issue, while ₹300 crore is from an offer for sale (OFS) by existing promoter members.
The company plans to utilise the capital raised to fund ongoing projects, reduce debt, and expand its operational capabilities.
Ellenbarrie Industrial Gases Ltd, a key supplier in the industrial gases industry will offer a fresh issue of equity shares worth ₹400 crore, along with an offer for sale (OFS) of 1.44 crore shares by existing shareholders.
The company plans to use the funds raised to repay debt and establish a new air separation unit at its Uluberia-II facility.
Sambhv Steel Ltd, a notable entity in the steel manufacturing sector, has also secured SEBI’s approval for their respective IPO in which they plan a comprised of a fresh issue of ₹440 crore and an OFS of ₹100 crore by existing shareholders.
The net proceeds from the fresh issue, totalling ₹390 crores, will be allocated to debt repayment and general corporate purposes.
SEBI’s recent approvals for the IPOs of Varindera Constructions Ltd, Ellenbarrie Industrial Gases Ltd, and Sambhv Steel Ltd underscore the regulator’s confidence in these companies’ prospects. The forthcoming public listings are poised to provide these firms with the necessary capital to pursue their strategic objectives and offer investors fresh avenues for participation in India’s dynamic economic landscape.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 30, 2025, 4:03 PM IST
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