Real estate firm Kalpataru Ltd and Unimech Aerospace and Manufacturing Ltd have received Sebi’s go-ahead to raise funds through initial public offerings (IPOs), an update with the markets regulator showed on Monday.
Kalpataru and Unimech Aerospace are aiming to raise Rs 1,590 crore and Rs 500 crore, respectively, through their initial share sale offers.
The two companies, which filed their preliminary papers with the markets regulator in August, obtained observations during November 21-22, the update showed.
In Sebi’s parlance, obtaining the observations means its go-ahead to launch the public issues.
According to the draft papers, Mumbai-based Kalpataru’s IPO comprises a fresh issue of shares aggregating up to Rs 1,590 crore.
It would use Rs 1,192.5 crore for payment of debt.
Kalpataru Ltd is part of the Kalpataru group. Other companies in the group are Kalpataru Projects International Ltd, Property Solutions (India) and Shree Shubham Logistics Ltd.
Bengaluru-based Unimech …
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