There is a big news for the IPO market. Market regulator SEBI has given approval to 6 companies to bring IPO. These companies include Rakesh Jhunjhunwala-invested Star Health & Allied Insurance, Adani Group’s FMCG company Adani Wilmar and e-commerce brand Nykaa.
Apart from these, Penna Cement Industries, Latent View Analytics and Sigachi Industries have also got IPO permission from SEBI.
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According to a report, these companies had submitted preliminary documents for the IPO with SEBI between May and August. SEBI last week gave green signal to these six companies to go for IPOs between October 11 and 14. It has also been said in the report that SEBI is yet to submit documents related to IPOs of 52 more companies, on which it is yet to take a final decision.
According to the document, FSN E-commerce Ventures Ltd, an online marketplace run by beauty aggregator Nykaa, will issue fresh shares worth Rs 525 crore under its IPO. At the same time, its promoters and existing shareholders will bring an offer for sale (OFS) for about 4.31 crore equity shares. Merchant banking sources said Nykaa is expected to raise Rs 3,500-4,000 crore from this IPO.
Adani Wilmar will issue fresh shares worth Rs 4,500 crore under its IPO. At the same time, new shares worth Rs 2,000 crore will be issued under the IPO of Star Health Insurance Company. Apart from this, the promoters and existing shareholders will bring an offer for sale (OFS) of 6,01,04,677 equity shares. Under the IPO of Hyderabad-based Penna Cement, new shares worth Rs 1,300 crore will be issued and OFS of Rs 250 crore will be brought.
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New shares worth Rs 474 crore will be issued under the IPO of Latent View Analytics. At the same time, a promoter and existing shareholders will bring an OFS of Rs 126 crore. 76.95 lakh equity shares will be sold under the IPO of Sigachi Industries. All these six companies will be listed on BSE and NSE.
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