The Securities and Exchange Board of India (SEBI) has granted approval for 6 companies to raise funds through initial public offerings (IPOs). These upcoming IPOs include Ivalue Infosolutions, Ather Energy, Oswal Pumps, Quality Power Electrical Equipments, Fabtech Technologies, and Schloss Bangalore.
SEBI issued observation letters on the draft documents of Ivalue Infosolutions and Ather Energy on December 23, while the preliminary documents of Oswal Pumps received the observation letter on December 24. Quality Power Electrical Equipments and Fabtech Technologies received their observation letters on December 27, and Schloss Bangalore’s was issued on December 26.
In SEBI’s terminology, the issuance of an observation letter is a green signal, allowing the company to launch its IPO within one year.
Ivalue Infosolutions, a Bengaluru-based technology solutions company, filed its draft papers with SEBI on September 5. The IPO is a complete offer-for-sale of 1.87 crore equity shares by existing shareholders, with no fresh issue component. Consequently, the entire proceeds (minus offering expenses) will go to the selling shareholders. If all convertible securities are fully converted, promoters will hold a 38.67% stake, while the remaining 61.33% will be owned by public shareholders, including Sundara (Mauritius).
Ather Energy, an electric two-wheeler manufacturer, filed its draft papers on September 9 with plans to raise funds for setting up a factory in Maharashtra and reducing debt. The IPO will comprise a fresh issue of equity shares worth Rs 3,100 crore and an offer-for-sale of 2.2 crore equity shares by promoters and investors.
Promoters Tarun Sanjay Mehta and Swapnil Babanlal Jain will each sell 10 lakh shares, with the remaining shares offloaded by investors such as Caladium Investment, National Investment and Infrastructure Fund, Internet Fund, 3State Ventures, IITM Incubation Cell, and IITMS Rural Technology. The funds from the fresh issue will be used to establish the factory, repay debt, invest in R&D, fund marketing efforts, and cover general corporate expenses.
Oswal Pumps, based in Haryana, manufactures solar-powered and grid-connected submersible and monoblock pumps, as well as electric motors. The company filed its draft red herring prospectus with SEBI on September 17 for an IPO consisting of a fresh issue of equity shares worth Rs 1,000 crore and an offer-for-sale of 1.13 crore equity shares by promoter Vivek Gupta. The proceeds will be used for capital expenditures, setting up new manufacturing units in Karnal, Haryana, repaying debts, and general corporate purposes.
Quality Power Electrical Equipments, which provides high-voltage electrical equipment and solutions, filed its draft papers with SEBI on September 16. The company is entirely owned by the Pandyan family. The IPO will include a fresh issue of Rs 225 crore and an offer-for-sale of 1.2 crore equity shares by promoter Chitra Pandyan.
Fabtech Technologies, based in Mumbai, offers turnkey engineering solutions for the pharmaceutical, biotech, and healthcare industries. The company filed its preliminary papers with SEBI on September 14. The IPO will involve a fresh issue of up to 1.20 crore equity shares, with a potential pre-IPO round raising up to Rs 10 crore before filing the red herring prospectus. The proceeds will be used for working capital, acquisitions, and general corporate purposes.
Schloss Bangalore, the operator of luxury hotels and resorts under The Leela brand, filed its IPO papers on September 20, aiming to raise Rs 5,000 crore. This is the largest IPO among the six. The company plans to raise Rs 3,000 crore via a fresh issue and Rs 2,000 crore through an offer-for-sale. The selling shareholder in the offer-for-sale is Project Ballet Bangalore Holdings (DIFC).
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 securities market are subject to market risks, read all the related documents carefully before investing.
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
