Anand Rathi Wealth, Tarson Products, ESAF Small Financing amongst 7 to get Sebi nod for IPOs
< img class =" MC_img" src =" https://images.moneycontrol.com/static-mcnews/2021/10/IPO-1-770x433.jpg?impolicy=website&width=770&height=431" alt =" Agent image
” title =” Agent image” width=”100 %” height =” auto” > Representative image The Securities and Exchange Board of India has authorized the initial public offerings (IPOs) of seven companies consisting of One 97 Communications, the owner of finetch company Paytm, Anand Rathi Wealth, Tarson Products and PB Fintech.ESAF Little Financing
Bank, Sapphire Foods, and HP Adhesives likewise got the capital markets regulator’s nod for their public offerings.Sebi has issued observation letters to the seven companies, according to a report released by the regulator on the” processing status of draft offer files” on October 25. An observation letter is required for every single IPO and implies the company can proceed with its plans.All these business submitted their draft IPO papers with Sebi in July and August.Anand Rathi Wealth The IPO
of one of the leading non-bank wealth options firms in India is completely a sell( OFS) of 12 million equity shares
by the promoters Anand Rathi Financial Providers, Anand Rathi, Pradeep Gupta and other shareholders– Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Family Trust, Jugal Mantri, and Feroze Azee, according to the company’s draft red herring prospectus( DRHP ). The company, which submitted draft papers with Sebi in July, will not receive any proceeds from the offer.PB Fintech The operator of online insurance platform Policybazaar and credit comparison portal Paisabazaar submitted draft documents for a Rs 6,017.5-crore IPO in August.The IPO consistsof a fresh problem of Rs 3,750
crore and an OFS of Rs 2,267.50 crore by existing shareholders, consisting of SVF Python II (Cayman )and Yashish Dahiya, according to the DRHP.One97 Communications The moms and dad business of fintech platform Paytm submitted IPO papers in July to raise Rs 16,600 crore through a public offer. While Rs 8,300 crore will be a primary share sale, Rs 8,300 crore will be an OFS by existing investors. The company plans a mid-November listing.Tarsons Products The IPO from the life
sciences business makes up a fresh concern of Rs 150 crore and an OFS by promoters and an investor.Promoters Sanjive Sehgal and Rohan Sehgal will unload 390,000 shares and 310,000 shares. Investor Clear Vision Investment Holdings Pte will offer 12.5 million shares through a market. The business had submitted
its prospectus in August.ESAF Small Financing Bank The company prepares to raise Rs 997.78 crore through its public problem, which consists of a fresh issue of Rs 800 crore and an OFS of Rs 197.78
crore by selling investors. The business had actually filed draft documents in July.As part of the OFS, the promoter will offer Rs 150 crore worth of shares, PNB Metlife India Insurer will offload shares worth of Rs 21.33 crore, Bajaj Allianz Life Insurance Coverage Company Rs 17.46 crore, PI Ventures Rs 8.73 crore, and John Chakola Rs 26 lakh.Sapphire Foods The biggest franchise operator of Yum! Brands in the Indian subcontinent in regards to earnings in FY20 had actually filed IPO papers in August. The IPO of 17.56 million shares is completely an OFS by shareholders.The OFS includes 850,000 shares held by QSR Management Trust
, 5.56 million shares by Sapphire Foods Mauritius, 4.84 million shares by WWD RUBY, 3.96 million shares by Amethyst, 80,169 shares by AAJV Investment Trust, 1.6 million shares by Edelweiss Crossover Opportunities Fund, and 646,227 shares by Edelweiss Crossover Opportunities Fund– Series II.HP Adhesives The IPO of HP Adhesives comprises a fresh issue of 4.14 million shares and an OFS of 457,200 shares by promoter Anjana Haresh Motwani. The IPO papers were submitted in July.The company will use the earnings of the fresh concern for existing and proposed
growth, incremental working capital requirements and general corporate purposes.Record year A total of 43 companies have raised a record Rs 78,520 crore, up until now, in 2021. Experts stated fundraising is anticipated to be higher than this figure in the coming five months.” The IPO market blew up in the very first part of CY21, signalling the conclusion of a drought in the IPO segment that had actually been badly affected by the Covid-19 circumstance. The system’s massive liquidity will ultimately discover its way into the stock exchange, supplying the IPO rush an advantage,” said Abhijit Bhave, CEO of Fisdom Private Wealth.He stated aspects including the existing
bullish environment, a substantial variety of unlisted companies accomplishing unicorn status( valuation surpassing$ 1 billion), the emergence of a large number of new financiers during the
pandemic, and the capability to acquire exceptional listings will see the IPO market continue to increase continuous. “With new-age names like Policy Fete, Paytm and Life Insurance Corporation’s massive IPO (as part of the
federal government’s disinvestment plan), the upcoming IPO list is likely to outperform the first half of FY22 in regards to fundraising, “Bhave said.Disclaimer: The views and financial investment suggestions revealed by specialists on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com recommends users to check with qualified professionals before making any financial investment decisions.
. Released at Mon, 25 Oct 2021 07:43:12 -0500
