Latest News | Dr Agarwal's Health Care, Casagrand Premier, 2 Others Get Sebi's Nod to Float IPO
Get latest articles and stories on Latest News at LatestLY. Dr Agarwal's Health Care, Casagrand Premier Builder, Highway Infrastructure and Regreen-Excel EPC India have received markets regulator Sebi's clearance to raise funds through initial public offering.
New Delhi, Jan 8 (PTI) Dr Agarwal's Health Care, Casagrand Premier Builder, Highway Infrastructure and Regreen-Excel EPC India have received markets regulator Sebi's clearance to raise funds through initial public offering.
These four firms, which had filed their preliminary papers with the markets watchdog between September and October, obtained observation letters in December last year, an update with the Securities and Exchange Board of India (Sebi) on Wednesday showed.
In Sebi's parlance, obtaining observation letters means its go-ahead to launch an Initial Public Offering (IPO).
Going by the draft papers of Temasek Holdings and TPG-backed Dr Agarwal's Health Care, an eye care services provider, the IPO is a combination of a fresh issue of up to Rs 300 crore and an Offer For Sale, (OFS) of up to 6.95 crore equity shares by promoters and other selling shareholders.
Also Read | Who Is Dr V Narayanan? 10 Lesser Known Facts About Next ISRO Chairman Succeeding S Somanath.
The offer also includes a subscription for eligible employees. Those selling shares in the OFS include Arvon Investments Pte Ltd, Claymore Investments (Mauritius) Pte Ltd, and Hyperion Investments Pte Ltd.
Proceeds from the fresh issue to the tune of Rs 195 crore will be used for payment of debt, a portion will be used for general corporate purposes, and for unidentified inorganic acquisition.
Chennai-based real estate developer Casagrand Premier Builder public issue is a mix of a fresh issue of equity shares worth Rs 1,000 crore and an offer for sale (OFS) of stocks valued Rs 100 crore by promoters.
The OFS consists of the sale of equity shares up to Rs 50 crore each by Arun M N and Casagrand Luxor Pvt Ltd.
Proceeds from the fresh issue will be used for payment of debt availed of by the company and its subsidiaries as well as for general corporate purposes.
Madhya Pradesh-based toll collection and EPC infra company Highway Infrastructure IPO is a combination of fresh issuance of equity shares worth Rs 105 crore, and an offer-for-sale (OFS) of 31 lakh equity shares by promoters
Promoters Arun Kumar Jain, and Anoop Agrawal will be selling 15.5 lakh equity shares each in the OFS. They hold 34.53 per cent and 37.25 per cent stakes, respectively, in the company.
Highway Infrastructure will utilise proceeds from the fresh issue towards working capital requirements, and general corporate purposes.
Ethanol plants manufacturer Regreen-Excel EPC India Ltd initial share-sale comprises a fresh issue of equity shares worth Rs 350 crore and an offer-for-sale (OFS) of 1.14 crore equity shares by promoters.
Regreen-Excel EPCR is a technology-driven EPC company, engaged in designing, manufacturing and supplying ethanol plants.
The equity shares of these four companies are proposed to be listed on the BSE and NSE.
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)