IPO News: SEBI has approved the IPO of Go Fashion, CMS Infosystem and Tega Industries. Go Colour’s parent company Go Fashion, equity firm Baring Private Equity-backed CMS Info and Tega Industries had submitted draft papers to SEBI for their IPO in August this year.
Go Fashion to issue fresh shares worth Rs 125 crore
Go Fashion will issue fresh shares worth Rs 125 crore through IPO, while 1.28 crore shares will be sold under the offer for sale. This company was started in 2010. Under the offer for sale, more than 1.28 lakh shares will be sold by the promoters and shareholders. PKS Family Trust and VKS Family Trust will sell 7,46,000 shares. While Sequoia Captial India Investment will sell 75 lakh shares. PKS and VKS Family Trust hold 24.87 per cent stake in the company. The company will use Rs 33.38 crore out of the funds raised from the IPO to open 120 exclusive stores.
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CMS Infosystem’s IPO completely on offer for sale
The IPO of CMS Infosystem will be purely offer for sale. Sion Investment Holdings Pte. 2000 crore shares of the company will be sold. This company is a subsidiary of Baring Private Equity Asia. At present, Sion has a 100 percent stake in the company. This is the second attempt by CMS to bring an IPO. Earlier it tried to launch IPO in 2017 but despite SEBI approval it did not launch IPO within 12 months.
Tega Industries, which provides services to mineral mining companies, is also going to IPO. This IPO can be of Rs 700-750 crore. No new shares will be issued under this IPO. This IPO will be Offer for Sale (OFS). Under the issue, the promoters and shareholders of the company will sell 1.37 crore equity shares.
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