India Pesticides, KIMS get Sebi s go-ahead to launch IPOs
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Last Updated: May 03, 2021, 07:13 PM IST
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The two companies filed their preliminary papers with the Securities and Exchange Board of India (Sebi) in February.
Sebi s observation is necessary for any company to launch public issues like initial public offer (IPO), follow-on public offer (FPO)and rights issue.
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NEW DELHI: Agrochemical technicals firm India Pesticides and the Krishna Institute of Medical Sciences have received capital markets regulator Sebi s go-ahead to float initial share-sales.
Krishna Institute of Medical Sciences (KIMS) and India Pesticides obtained Sebi s observation on April 28 and April 30, respectively, an update with Sebi showed on Monday.
The initial public offer (IPO) comprises fresh issuance of equity shares worth Rs 700 crore and an offer for sale of up to 92,53,659 shares by existing shareholders, the draft red herring prospectus (DRHP) filed with Sebi showed. Those selling shares in the offer-for-sale include Bajaj Allianz Life Insurance Company, Hero Enterprise Partner Ventures, ICICI Prudential Life Insurance Company, Enam Securities, North Haven Private Equity Asia Platinum Pte Ltd, QRG Enterprises and Tree Line Asia Master Fund (Singapore) Pte Ltd. According to merchant banking sources, the IPO is expected to fetch Rs 1,100 crore. The small finance bank has proposed to utilize the net proceeds from the fresh issue towards augmenting its Tier 1 capital base to meet future capital requirements. The proceeds will also be used for meeting the expenses in relation to the offer.
Mumbai (Maharashtra) [India], February 25 (ANI): Hyderabad-based precision engineering solutions company MTAR Technologies will open the bid offer period in relation to its initial public offering of equity shares on March 3 and close on March 5.
India Pesticides files for Rs 800 crore IPO ANI | Updated: Feb 10, 2021 14:12 IST
The public offer comprises of a fund raise via fresh issuance of shares amounting to Rs 100 crore and Rs 700 crore through an offer-for-sale by promoter and technocrat Anand Swarup Agarwal aggregating to Rs 281 crore and other selling shareholders the balance of Rs 419 crore.
The company may decide to undertake a pre-IPO placement of Rs 75 crore subject to consultation of merchant bankers. Axis Capital and JM Financial are book running lead managers, and KFin Technologies is registrar to the issue.
The face value of equity shares is Re 1 each. The price band and minimum bid lot will be decided by the company and the promoter selling shareholders in consultation with book running lead managers.