Six IPOs get Sebi’s approval
Premium- These companies are Medplus Health Services, RateGain Travel Technologies, Purnik Builders, Fusion Micro Finance, Tracxn Technologies and Prudent Corporate Advisory Services
Burgeoning activity in India's initial public offering market expected to continue in the coming months with half a dozen firms receiving approvals to their draft papers from the market regulators.
These companies are Medplus Health Services, RateGain Travel Technologies, Purnik Builders, Fusion Micro Finance, Tracxn Technologies and Prudent Corporate Advisory Services.
Hyderabad based Medplus Health Services planning to raise ₹1638.71 crore via IPO which comprises a fresh issue of ₹600 crore and an offer for sale of ₹1038.71 crore by its existing promoters and shareholders.
Real estate developer Puranik Builders IPO consist a fresh issue of ₹510 crore and an offer for sale of upto 9.45 lakh by its promoter groups. The proceeds from the issue will be used to repay its debt.
Travel and hospitality services provider RateGain Travel Technologies IPO comprises a fresh issue of ₹400 crore and an offer for sale of upto ₹2.26 crore by promoters. The proceeds from the issue will be used to repay debt and payment of deferred consideration for acquisition of DHISCO and strategic investments, acquisitions and inorganic growth.
The IPO of Tracxn Technologies is a pure offer for sale of upto 3.86 crore by its promoters which includes Flipkar founders Binny Bansal and Sachin Bansal, Accel India IV and SCI Investments.
Prudent Corporate Advisory Services IPO also a pure OFS of upto 85.49 lakh shares by Wagner and Shirish Patel.
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Warburg Pincus backed Fusion Micro Finance IPO comprises a fresh issue of ₹600crore and an OFS of upto 2.19 crore by existing promoters and shareholders. The proceeds from the issue will be used for augmenting the capital base of the lender.
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