Soon some companies are going to launch their Initial Public Offer (IPO) in the market. Six companies including Nykaa, Adani Wilmar and Star Health and Allied Insurance have received capital markets regulator SEBI’s nod to initiate initial share sales. Apart from these, Penna Cement Industries, Latent View Analytics and Sigachi Industries also got the SEBI nod for raising funds through an initial public offering.
As per the update received by SEBI on Monday, these six companies had filed their initial IPO papers with SEBI between May and August. These companies had received their comments from SEBI from October 11 to 14. In SEBI parlance, the issue of comments means to issue an IPO.
As per the draft, the fresh issue of equity shares of Rs 525 crore in the IPO of FSN E-commerce Ventures Ltd, which operates as Nykaa online marketplace for beauty products and 43,111,670 equity shares on behalf of the promoter and existing shareholders. Includes offer of sale (OFS).
Promoter Sanjay Nair Family Trust and Shareholders under OFS, TPG Growth IV SF Pte Ltd, Lighthouse India Fund III, Lighthouse India III Employees Trust, Yogesh Agencies & Investments, JM Financial & Investment Consultancy Services and certain individual shareholders hold their shares.
On the other hand, if we talk about Adani Wilmar, then its proposed IPO will be in the form of a fresh issue of equity shares of up to Rs 4,500 crore (about 600 million US dollars). Adani Wilmar is a joint venture company between Adani Group and Wilmar Group.
Further, as per the draft Red Herring Prospectus (DRHP), the IPO of Star Health and Allied Insurance Company includes a fresh issue of equity shares worth Rs 2,000 crore and an offer for sale of 60,104,677 equity shares by promoters and existing shareholders. Star Health, the leading private health insurance company in the country, is owned by a consortium of investors like Westbridge Capital and Rakesh Jhunjhunwala.
The shares of all these six companies will also be listed on BSE and NSE.
