Four companies get Sebi’s approval to launch IPOs
These companies filed their preliminary IPO papers with the regulator between July 2022 and January 2023 and obtained its observation during March 29-31.
Published: 06th April 2023 07:46 AM | Last Updated: 06th April 2023 07:46 AM | A+A A-
Image used for representational purpose only. (File Photo)
MUMBAI: Four companies including Rashi Peripherals, Cyient DLM, Healthvista India and Zaggle Prepaid Ocean Services have received approval from the Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO).
These companies filed their preliminary IPO papers with the regulator between July 2022 and January 2023 and obtained their observation during March 29-31. The issuance of the observation letter for draft red herring prospectus for any IPO filed by the company implies the go-ahead from the market regulator for its proposed fundraising via IPO.
The equity shares of these four companies will be listed on the BSE and NSE. According to the draft papers, IT solutions provider Rashi Peripherals’ IPO is entirely fresh issue of equity shares worth Rs 750 crore with no offer for sale (OFS) component.
Of the IPO proceeds, funds worth Rs 400 crore will be utilised for payment of debt and Rs 200 crore for funding working capital requirements and general corporate purposes.
The IPO of electronic manufacturing services firm Cyient DLM is purely a fresh issue of equity shares to the tune of Rs 740 crore with no OFS component.
IPos on the anvil
- Rashi Peripherals plans to raise Rs 750 crore
- Zaggle Prepaid Ocean Services plans to raise Rs 750 crore
- Cyient DLM plans to raise Rs 740 crore
- Healthvista India plans to Rs 200 crore
