New Delhi: Seven companies, including lifestyle retail brand FabIndia and specialty chemical company Aether Industries, have received capital markets regulator Sebi’s go-ahead to raise funds through initial share sales. The other companies that have got the nod to cloat IPOs are Syrma SGS Technology, Asianet Satellite Communications, Sanathan Textiles, Capillary Technologies India and Harsha Engineers International.
These companies, which filed their preliminary IPO papers with Sebi during December 2021 and February 2022, obtained observations during April 27-30, an update with the regulator showed Monday. In Sebi’s parlance, its observation implies the company concerned has received the approval to launch the IPO.
According to the Draft Red Herring Prospectus (DRHP), FabIndia’s IPO, includes fresh issue of shares worth up to Rs 500 crore. Besides, there will be an Offer For Sale (OFS) of up to 2,50,50,543 shares. The company’s promoters also plan to gift more than 7 lakh shares to artisans and farmers. Market sources said the IPO is expected to be worth around Rs 4,000 crore.
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Aether Industries’ public offer consists of a fresh issue of equity shares aggregating to Rs 757 crore and an OFS of up to 2,751,000 equity shares. The company may also consider raising Rs 131 crore by issuing equity shares through a preferential offer. As per the market sources, the company is expected raise Rs 1,000 crore through its IPO.
Leading internet service provider Asianet Satellite Communications plans to raise Rs 765 crore through the IPO.
The IPO consists of a fresh issue of equity shares aggregating to Rs 300 crore, and an offer for sale of up to Rs 465 crore by Hathway Investments.
The equity shares of these seven companies will be listed on the BSE and NSE.