Home >market >stock-market-news >Five firms that are taking the IPO route to raise funds

New Delhi: Continental Warehousing Corp. NS Ltd, Genesis Colors Pvt. Ltd, Shankara BuildPro, Avenue Supermarts Ltd and GR Infraprojects Ltd are among the companies that have filed draft papers with regulator Securities and Exchange Board of India (Sebi) to raise capital through initial public offerings (IPOs).

The companies plan to utilize the net proceeds for business expansion, repayment of loans and general corporate purposes. The equity shares of the companies are proposed to be listed on BSE and NSE.

Continental Warehousing

Warburg Pincus-backed logistics firm Continental Warehousing Corporation (Nhava Seva) Ltd has filed its draft red herring prospectus with Sebi for an IPO that includes a fresh issue of shares to raise Rs419 crore, besides an offer by its existing private equity investors. Edelweiss Capital, Axis Capital, Ambit, ICICI Securities are managing the issue.

Avenue Supermarts

Avenue Supermarts, which owns and operates hypermarket and supermarket chain D-Mart, is looking to raise up to Rs1,870 crore through a fresh issue of shares. Kotak Mahindra Capital, Axis Capital, Edelweiss, HDFC Bank, ICICI Securities, Inga Capital, JM Financial, Motilal Oswal and SBI Capital Markets will manage the issue.

Genesis Colors

Sequoia Capital-backed Genesis Colors, which owns luxury brands such as Satya Paul and Bwitch, proposes to raise about Rs380 crore through a fresh issue of shares, besides an offer for sale of up to 1.92 million shares by Mayfield Fund, the Henderson Private Equity and Innoven Capital, among others. ICICI Securities, Edelweiss Financial Services, Ambit Pvt. Ltd are managing the issue.

GR Infraprojects

GR Infraprojects Ltd has also filed its draft papers for its proposed IPO to raise as much as Rs240 crore through a fresh issue of shares, in addition to an offer for sale by shareholders. ICICI Securities, Motilal Oswal, HDFC Securities, IDFC Securities and SBI Capital are managing the issue.

Shankara BuildPro

Bengaluru-based Shankara BuildPro, an organized retailer of home improvement and building products, proposes to mop up between Rs400 crore and Rs450 crore through the share sale, which will involve promoters and investors diluting their stakes to the tune of 35%. The lead bankers for the issue are IDFC Bank and Equirus Capital. HDFC Bank will be co-manager.

ALSO READ | January-September equity sales at lowest since 2008

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