As many as six firms, together with Nykaa, Adani Wilmar and Star Health & Allied Insurance, have acquired capital markets regulator Sebi’s go-ahead to launch preliminary share-sales.
Apart from these, Penna Cement Industries, Latent View Analytics and Sigachi Industries too acquired Sebi’s clearance to lift funds by means of the preliminary public choices.
These six firms, which filed their preliminary IPO papers with Sebi between May and August, obtained its “observations” throughout October 11-14, an replace with Sebi confirmed on Monday.
In Sebi parlance, issuance of observations implies its go-ahead to drift the preliminary public providing (IPO).
Going by the draft papers, the IPO of FSN E-Commerce Ventures Ltd, which runs on-line market for magnificence and wellness merchandise Nykaa, contains contemporary concern of fairness shares price Rs 525 crore and a proposal on the market (OFS) of 43,111,670 fairness shares by promoter and current shareholders.
Those promoting shares within the OFS are — promoter Sanjay Nayar Family Trust and shareholders, TPG Growth IV SF Pte Ltd, Lighthouse India Fund III, Lighthouse India III Employee Trust, Yogesh Agencies & Investments, J M Financial and Investment Consultancy Services and a few particular person shareholders.
According to service provider banking sources, the preliminary share-sale is predicted to fetch Rs 3,500-4,000 crore valuing the corporate within the vary of USD 5 billion to USD 5.5 billion.
Adani Wilmar’s proposed IPO can be in type of contemporary concern of fairness shares for an quantity of as much as Rs 4,500 crore (roughly USD 600 million). There won’t be any secondary providing.
The firm, which sells cooking oils underneath the Fortune model, is a serious participant within the edible oil business.
Adani Wilmar is a 50:50 three way partnership firm between the Adani group and the Wilmar group.
Star Health and Allied Insurance Company’s IPO contains contemporary concern of fairness shares price Rs 2,000 crore and a proposal on the market of as much as 60,104,677 fairness shares by promoters and current shareholders, in keeping with the draft crimson herring prospectus (DRHP).
Those providing shares by means of the provide on the market are promoter and promoter group Safecrop Investments India LLP, Konark Trust, MMPL Trust; and current traders Apis Growth 6 Ltd, Mio IV Star, University of Notre Dame Du Lac, Mio Star, ROC Capital Pty Ltd, Venkatasamy Jagannathan, Sai Satish and Berjis Minoo Desai.
Star Health, main personal well being insurer within the nation, is owned by a consortium of traders like Westbridge Capital and Rakesh Jhunjhunwala.
The Hyderabad-based Penna Cement’s IPO contains contemporary concern of fairness shares price Rs 1,300 crore and a proposal on the market of as much as Rs 250 crore by the promoter, as per the DRHP.
Latent View Analytics’ IPO consists of contemporary concern of fairness shares price Rs 474 crore and a proposal of sale of fairness shares to the tune of Rs 126 crore by a promoter and current shareholders.
As part of the provide on the market, promoter Adugudi Viswanathan Venkatraman will offload shares price Rs 60.14 crore, shareholder Ramesh Hariharan will promote Rs 35 crore shares and Gopinath Koteeswaran will offload Rs 23.52 crore shares amongst others.
The IPO of Sigachi Industries, producer of cellulose based mostly excipient, will see sale of upto 76.95 lakh fairness shares.
Shares of all of the six firms can be listed on BSE and NSE.
