BackTen companies get Sebi approval for IPOs
VLCC will make its second attempt at an IPO; it will have a fresh issue of ₹300 cr and an OFS of up to 8.92 mn shares
PremiumThe strong momentum in India’s initial public offering (IPO) market is expected to continue with the market regulator approving draft papers of 10 more firms.
These companies are Data Patterns India Ltd, Electronics Mart India Ltd, Gemini Edibles & Fats India Ltd, India1 Payments Ltd, Healthium Medtech Ltd, CE Info Systems Ltd, VLCC Health Care Ltd, AGS Transact Technologies Ltd, Metro Brands Ltd, and Godavari Biorefineries Ltd.
Defence and aerospace industry supplier Data Patterns received approval from the Securities and Exchange Board of India (Sebi) for its IPO that will consist of a fresh issue of ₹300 crore and an offer for sale (OFS) of up to 6.07 million shares by promoters and shareholders.
Data Patterns is backed by former Blackstone head Matthew Cyriac through Florintree Capital Partners LLP which holds 12.8% of the company.
The IPO of MapmyIndia, also known as CE Info Systems, will comprise a pure OFS of 7.55 million shares by existing shareholders and promoters. MapmyIndia, a digital mapping company whose data powers Apple Inc.’s maps and Amazon.com Inc.’s Alexa in India, is a leading provider of advanced digital maps, geo-spatial software and location based IoT technologies.
The IPO of Apax Partners-promoted Healthium Medtech Ltd, India’s second largest medical consumables and surgical sutures maker, will consist of a fresh issue of ₹390 crore and an OFS of up to 39.10 million shares by existing shareholders and promoters.
Ace investor Rakesh Jhunjhunwala-backed Metro Brands’ IPO comprises a fresh issue of ₹250 crore and an OFS of 21.90 million shares by selling shareholders. The footwear retailer will use the share sale proceeds to open new stores.
Gemini Edibles and Fats India’s IPO consists of a pure OFS of ₹2,500 crore. The firm is the market leader in the sunflower oil category. Hyderabad-based Electronics Mart plans to raise ₹500 crore through its IPO.
Beauty and wellness firm VLCC Health Care will make its second attempt at an IPO, which will comprise a fresh issue of ₹300 crore and an OFS of up to 8.92 million shares by its existing promoters and shareholders. Founded by Vandana Luthra, VLCC had in 2016 withdrawn its IPO.
Omni-channel payment solutions provider AGS Transact Technologies IPO is a pure OFS of up to ₹800 crore by its shareholders and promoters. Godavari Biorefineries’ IPO comprises a fresh issue of ₹370 crore and an OFS of 6.56 million shares by promoters and investors. The company is one of the leading producers of ethanol and a pioneer in manufacturing ethanol-based chemicals in India. India1 Payments’ IPO consists of a fresh issue of ₹150 crore and an OFS of up to 10.31 million shares by existing shareholders and promoters.
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