The IPOs of Shresta Natural Bioproducts, Maini Precision Products and Campus Activewear have received the approval of market regulator SEBI.
Sresta Natural, Maini Precision, Campus Activewear IPO: There is good news for those investing in IPO. The IPOs of organic food company Shresta Natural Bioproducts, engineering solutions provider Maini Precision Products and sports and athletic footwear maker Campus Activewear have received approval from market regulator SEBI. . These companies had filed draft papers with SEBI between December 2021 and January 2022. They have received observation letter from SEBI during 15-17 March. It is necessary for any company to obtain an observation letter from SEBI before bringing an IPO.
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Resta Natural’s IPO Details
According to the draft papers, organic food company Sresta Natural wants to raise Rs 500 crore through its IPO. Under this IPO, fresh shares worth Rs 50 crore will be issued. At the same time, 70.30 lakh equity shares will be sold by the shareholders of the company under the Offer for Sale (OFS). The company will use the funds raised through this IPO for working capital requirements. Apart from this, the funds will also be used for repayment of loans and for general corporate purposes.
Many Precision Products IPO Details
According to the draft papers, fresh shares of up to Rs 50 crore will be issued under the IPO of Many Precision Products. At the same time, 30.30 lakh shares will be sold by its promoters under OFS. Promoters Sudarshan Kumar Maini, Reva Maini, Sandeep Kumar Maini, Gautam Maini and Chetan Kumar Maini are among the promoters who offered shares in the OFS. Under this IPO, the proceeds will be used to purchase machinery and construction of a new factory building at Nelamangala. In addition, the funds will also be used for debt repayment and other general corporate purposes.
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Campus Activewear IPO Details
According to the draft red herring prospectus (DRHP) of sports and athletic footwear maker Campus Activewear, this IPO will be purely on offer for sale (OFS). Under this, 5.1 crore equity shares will be sold by the promoters and existing shareholders of the company. Promoters Hari Krishna Agarwal and Nikhil Aggarwal are among those offering shares under OFS. In addition, it includes investors such as TPG Growth III SF Pte Ltd and QRG Enterprises Ltd. Presently, promoters hold 78.21 per cent stake in the company. In addition, TPG Growth and QRG Enterprises hold 17.19 per cent and 3.86 per cent, respectively.
Campus Activewear introduced the ‘Campus’ brand in the year 2005. It is a lifestyle-oriented sports and athleisure footwear company. It provides a divers product portfolio for the entire family. The company has a market share of around 15 percent in the branded sports and athleisure footwear industry in India in the financial year 2020, which has increased to about 17 percent in the financial year 2021. JM Financial Limited and ICICI Securities have been appointed as the Book Running Lead Managers on the Public Issue.
(Input-PTI)
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