Jewellery retail participant Senco Gold Ltd, digital sub-systems and cable harnesses maker DCX Systems and frozen meat exporter HMA Agro Industries have acquired Sebi’s nod to boost funds by IPOs.
The firms, which filed their preliminary IPO (Initial Public Offering) papers with Securities and Exchange Board of India (Sebi) between March and April, obtained their remark letters throughout July 5-7, an replace with the regulator confirmed on Monday.
In Sebi’s parlance, issuance of remark letter implies its nod to drift IPO.
Together, the three corporations are anticipated to mop-up Rs 1,605 crore by the preliminary share gross sales. The fairness shares of the businesses are proposed to be listed on each the bourses — BSE and NSE.
Going by the draft papers, Senco Gold’s Rs 525 crore-IPO will comprise recent challenge of fairness shares aggregating as much as Rs 325 crore and an Offer For Sale (OFS) of fairness shares to the tune of Rs 200 crore by promoting shareholder – SAIF Partners India IV Limited.
The firm proposes to utilise Rs 240 crore of internet proceeds from the recent challenge in the direction of funding working capital necessities and relaxation in the direction of common company functions.
At current, Senco Gold has 127 showrooms — 70 firm operated and 57 franchisee — in 89 cities and cities throughout 13 states in India. Some of its franchisee showrooms are situated in areas apart from metros and Tier-I, offering a larger attain in Tier-2 and Tier-3 places.
The firm additionally sells merchandise by varied on-line platforms. It additionally undertakes wholesale exports of its jewelry, primarily to Dubai, Malaysia and Singapore.
According to the Draft Red Herring Prospectus (DRHP), the Rs 600 crore-IPO of DCX Systems will encompass recent challenge of fairness shares, aggregating as much as Rs 500 crore, and an OFS of fairness shares to the tune of as much as Rs 100 crore by promoters — NCBG Holdings Inc and VNG Technology.
The firm proposes to utilise the online proceeds from the recent challenge in the direction of debt cost, funding working capital necessities, funding in its wholly-owned subsidiary Raneal Advanced Systems to fund its capital expenditure bills and common company functions.
The Bengaluru-based firm is primarily engaged in system integration and manufacturing a complete array of cables and wire harness assemblies, and are additionally concerned in kitting.
Frozen meat exporter HMA Agro Industries filed preliminary papers with Sebi in March for an preliminary share sale price Rs 480 crore.
The IPO will comprise recent challenge of fairness shares aggregating as much as Rs 150 crore and an OFS of fairness shares price as much as Rs 330 crore by its promoters.
The OFS includes offloading of as much as Rs 120 crore price shares by Wajid Ahmed and shares valued at Rs 49 crore every by Gulzar Ahmad, Mohd Mehmood Qureshi, Mohd Ashraf Qureshi and Zulfiqar Ahmad Quraishi. Besides, shares price Rs 14 crore can be bought by Parvez Alam.
The firm will use the online proceeds price Rs 135 crore for funding working capital necessities in addition to for common company functions.
The Agra-based agency is among the many largest exporters of frozen buffalo meat merchandise from India. Its merchandise are exported to over 40 international locations everywhere in the globe. More than 90 per cent of its gross sales comes from exports.
Source: www.financialexpress.com”