Entero Healthcare Solutions, JNK India, Exicom Tele-Systems and Akme Fintrade (India) have received markets regulator Sebi’s approval to raise funds through initial public offerings.
However, the Securities and Exchange Board of India has returned the IPO papers of Stallion India Fluorochemicals.
As per the processing status of draft offer documents till January 19, the watchdog has approved the initial public offering (IPO) of the four companies.
These four firms, which had filed their preliminary papers with the markets watchdog between June and October, obtained observation letters on January 16-19, an update with the Securities and Exchange Board of India (Sebi) showed on Thursday.
In Sebi’s parlance, obtaining observation letters means its go-ahead to launch an IPO.
Going by the draft papers of Entero Healthcare Solutions, the IPO comprises a fresh issue of equity shares worth up to Rs 1,000 crore and an Offer For Sale (OFS) component of up to 85.57 lakh equity shares.
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The category for Non-Institutional Investors (NIIs) received 71.19 times subscriptions, while the portion for Retail Individual Investors (RIIs) subscribed 36.19 times. Qualified Institutional Buyers (QIBs) part got subscribed 1.12 times.
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Motilal Oswal Private Equity has pumped in Rs 415 crore for a minority stake in the 1994-incorporated, Jaipur-based company, as per a statement.
Existing shareholders Norwest Venture Partners, TPG Growth, Baring Private Equity India, and new investors Duro Capital, Axis Alternatives, Ananta Capital, and Mirae Asset Venture Investments were among the other investors in the round, it said.
The company has grown at a rate of 40 per cent annually on a compounded basis over the last six years till FY23, as per the statement.
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