IndiaCSR News Network
NEW DELHI: SEBI has in the past one week approved initial public offerings or IPOs of three companies that have plans to raise at least Rs 1,000 crore for business expansion and working capital requirements.
With this, the number of firms receiving markets regulator Sebi’s green signal since the beginning of the year has reached 17. The three companies are Amar Ujala Publications, which publishes Hindi daily Amar Ujala, Infrastructure firm Dilip Buildcon and Kalpataru Power Transmission’s subsidiary – Shree Shubham Logistics.
They had filed draft papers with Sebi in February and March. The regulator had last month given its nod to four companies to launch IPOs. However, these companies are yet to launch their public offers.
According to market experts, the IPO market is expected to see some activity in 2015 as a dozen companies have received approvals to float public offers.
“Though overall sentiment in market is positive for equity issuances, we believe companies with strong fundamentals and right valuation will only be able to tap the capital markets” ICICI Securities executive director Ajay Saraf said.
Individually, the capital market watchdog has issued its final observations on the draft offer documents of Dilip Buildcon on June 1, Shree Shubham Logistics on June 2 and Amar Ujala on June 3, which is necessary for companies to launch any public offer.
According to the draft papers filed with Sebi, Dilip Buildcon’s IPO would comprise fresh issue of equity shares worth up to Rs 650 crore and offer for sale of up to 1.49 crore equity shares by its existing shareholders.
Shree Shubham Logistics’ proposed IPO comprises of fresh equity shares aggregating up to Rs 210 crore and an offer for sale of up to 70.07 lakh equity shares by its shareholder Tano India Private Equity Fund II.
Amar Ujala’s public offer consists of fresh issue of equity shares worth Rs 50 crore and an offer for sale of up to 26.90 lakh equity shares by existing shareholders.
(IndiaCSR is renowned and  No.1 news portal in the domain of CSR, which is live since 2009. www.indiacsr.in  is for you and your organization. Kindly support and promote  it. We welcome reactions to stories, comments on issues that interest you, feedback & comments from your side to make it more purposeful and resourceful, we will carry it in our portal. Please send us your valuable feedback, suggestions and news, press releases, articles and contributions at editor@indiacsrnetwork.com. You can find updates at Facebook  IndiaCSR News Network )
