Eight firms, including the defense equipment manufacturer SMPP, Brigade Hotel and PVC Blend -based construction materials, Kumar Arch Tech, have been jointly approved by SEBI to raise more than Rs 6,500 crore through the initial public issue (IPO) through the initial public issue (IPO). .
Other companies that SEBI have approved to introduce IPOs include solarworld energy solutions, Indogalf Cropsines, Globe Civil Projects and Prostarm Info Systems. The regulator gave this information on Tuesday. The target of these firms is to raise more than Rs 6,500 crore in total. SEBI received applications to bring IPOs from these companies between October and November. For this, SEBI released conclusions between 28-31 January. Finding conclusions in SEBI language means to bring public issue.
Meanwhile, the vehicle Palpiza company Winnie Corporation withdrew its application to bring an IPO on January 27 without giving any reason. According to the draft documents, SMPP Limited’s IPO of Rs 4,000 crore includes a new issue of equity shares up to Rs 580 crore. Apart from this, the promoter Shiv Chand Kansal will bring the sale of shares up to Rs 3,420 crore (OFS). Brigade Hotel Ventures is planning to raise Rs 900 crore through IPO. An amount of Rs 481 crore received from this issue will be used to repay the loan. Apart from this, Rs 412 crore will be allocated to the company and Rs 69 crore to its subsidiary SRP Prosperita Hotel Ventures Limited.
The IPO of Kumar Arch Tech includes a new issue of Rs 240 crore and OFS of Rs 500 crore. The IPO of Solarworld Energy Solutions includes a new issue of Rs 550 crore and a sales offer of Rs 50 crore. Language