The Securities and Exchange Board of India has given a go-ahead to 10 companies to raise funds through the initial public offerings in the past week.
They are CE Info Systems (MapmyIndia), VLCC, Data Patterns (India) Ltd, Electronics Mart India Ltd, Gemini Edibles & Fats India Ltd, India1 Payments, Healthium Medtech, AGS Transact Technologies Ltd, Metro Brands and Godavari Biorefineries.
These companies had filed their preliminary IPO papers with SEBI between August and September.
Observations of 35 IPOs are yet to be issued by market regulator.
MapmyIndia
The IPO of MapMyIndia, which powers Apple maps, comprises entirely of an offer for sale of up to 75.48 lakh shares of face value of ₹2 each. Qualcomm will be selling 2,026,055 shares while Zenrin will be sharing 1,027,471 shares as part of the offer, as per the draft papers filed by the company. The mapping tech company has over 2,000 customers across map-as-a-service, software-as-a-service (SaaS), IoT solutions and application programming interface (API).
VLCC
Homegrown beauty and wellness major VLCC Health Care’s IPO comprises fresh issuance of equity shares worth ₹300 crore and an OFS of 89.22 lakh equity shares by the promoter and existing shareholders, according to the DRHP.
The OFS comprises sale of up to 18.83 lakh equity shares by promoter Mukesh Luthra, up to 18.97 lakh equity shares by OIH Mauritius and 52.42 lakh equity shares by Leon International.
Data Patterns (India)
The IPO comprises of a fresh issue of equity shares aggregating up to ₹300 crore and an OFS of up to 60.70 lakh shares. This includes shares to be offloaded by promoters Srinivasagopalan Rangarajan and Rekha Murthy Rangarajan. Other selling shareholders included Sudhir Nathan and GK Vasundhara.
Electronics Mart Limited
Consumer durables retail chain Electronics Mart India Ltd is planning to raise ₹500 crore through its IPO. The Hyderabad-based company plans to use the IPO proceeds to fund its capital expenditure and working capital requirements to the extent of ₹133.8 crore and ₹200 crore respectively, and repayment of ₹50 crore debt besides corporate purposes, as per the draft papers.
Metro Brands
The IPO of footwear retailer Metro Brands Ltd comprises fresh issuance of equity shares worth ₹250 crore and an OFS of 21,900,100 equity shares by selling shareholders, according to the DRHP.
The company, backed by ace investor Rakesh Jhunjhunwala, is planning to utilise the proceeds of the fresh issue towards expenditure for opening new stores of the company, under the ‘Metro’, ‘Mochi’, ‘Walkway’ and ‘Crocs’ brands and for general corporate purposes.
Godavari Biorefineries
The IPO of Godavari Biorefineries comprises fresh issue of equity shares aggregating up to ₹370 crore and an OFS of up to 65.58 lakh shares. Promoters Samir Shantilal an Somaiya Agencies Private Limited will be offloading five lakh shares while Madala Capital AG Ltd, which has invested in the company will be selling 4,926,983 shares.
Filmedia Communication Systems will be selling up to three lakh equity shares by, up to 1.31 lakh equity shares will be sold by Somaiya Properties and Investments and up to two lakh equity shares by Lakshmiwadi Mines and Minerals.
AGS Transact Technologies is planning to raise ₹800 crore through its initial share-sale. The IPO is purely an OFS of equity shares by the promoter and other selling shareholders.
India1 Payments Limited’s IPO comprises fresh issuance of equity shares worth ₹150 crore and an OFS of 10,305,180 equity shares by promoters and investors. The company is planning to use the proceeds from the fresh issue to repay debt, funding capital expenditure requirements of the company for setting up ATMs in India, and for general corporate purposes.
Healthium Medtech’s IPO comprises fresh issuance of equity shares worth ₹390 crore and an OFS of up to 3.91 crore equity shares by the promoter and existing shareholders.
Gemini Edibles & Fats India is looking to raise ₹2,500 crore through its IPO, which is entirely an offer for sale (OFS) by the company's promoter and existing shareholders.