Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Market / Stock-market-news/  Patel Infrastructure, Krishna Institute get Sebi nod for IPOs
BackBack

Patel Infrastructure, Krishna Institute get Sebi nod for IPOs

Gujarat-based Patel Infrastructure and Maharashtra-based KIMS obtained observations from Sebi on 5 and 7 March respectively

Going by the draft papers, Patel Infra’s IPO will see sale of equity shares worth Rs400 crore. Photo: iStockphotoPremium
Going by the draft papers, Patel Infra’s IPO will see sale of equity shares worth Rs400 crore. Photo: iStockphoto

New Delhi: Two companies—Patel Infrastructure and Krishna Institute of Medical Sciences (KIMS)—have received Securities and Exchange Board of India (Sebi) go ahead to float their initial share-sale offers.

With this, the total number of companies receiving approval for the IPO has reached 11 so far this year. Gujarat-based Patel Infra and Maharashtra-based KIMS obtained ‘observations’ from Sebi on 5 and 7 March respectively, as per the latest update with markets watchdog.

The companies had filed their draft papers with Sebi between December and January. Sebi’s ‘observations’ is necessary for any company planning to launch pubic issues like rights issue and initial public offer (IPO).

Going by the draft papers, Patel Infra’s IPO will see sale of equity shares worth Rs400 crore. The hospital chain will issue fresh shares worth Rs50 crore, besides, an offer of sale for 18,754,037 equity scrips by the existing shareholders including ICICI Venture.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 14 Mar 2018, 05:22 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App