6 Biggest Companies Receives Capital Market

New Delhi: Six companies, including Nykaa, Adani Wilmar and Star Health and Allied Insurance, have received capital markets regulator SEBI’s nod to initiate initial share-sales. Apart from these, Penna Cement Industries, Latent View Analytics and Sigachi Industries also got SEBI nod for raising funds through initial public offering.

These six companies, which filed their initial IPO papers with SEBI between May and August, received their “comments” during October 11-14, an update with SEBI showed on Monday.

In the parlance of SEBI, issue of comments refers to issue of Initial Public Offering (IPO).

As per the draft, the IPO of FSN E-Commerce Ventures Ltd, which runs online marketplace for beauty and wellness products Nykaa, consists of fresh issue of equity shares worth Rs 525 crore and offer for sale (OFS) of 43,111,670 equity shares. Promoters and existing shareholders.

The Sellers of Shares in OFS are – Promoter Sanjay Nair Family Trust & Shareholders, TPG Growth IV SF Pte Ltd, Lighthouse India Fund III, Lighthouse India III Employees Trust, Yogesh Agencies & Investments, JM Financial & Investment Consultancy Services and a few individual shareholders.

According to merchant banking sources, the initial share-sale is expected to fetch the company Rs 3,500-4,000 crore, which is valued between USD 5 billion and USD 5.5 billion.

The proposed IPO of Adani Wilmar will be in the form of a fresh issue of equity shares of up to Rs 4,500 crore (approximately US$ 600 million). There will be no secondary offer.

The company, which sells cooking oils under the Fortune brand, is a major player in the edible oil industry. Adani Wilmar is a 50:50 joint venture company between Adani Group and Wilmar Group.

According to the draft Red Herring Prospectus (DRHP), the IPO of Star Health and Allied Insurance Company includes fresh issue of equity shares worth Rs 2,000 crore and offer for sale of 60,104,677 equity shares by promoters and existing shareholders.

Promoters and promoter group Safecrop Investments India LLP, Konark Trust, MMPL Trust; and existing investors Apis Growth 6 Ltd, Mio IV Star, University of Notre Dame du Lac, Mio Star, RoC Capital Pvt Ltd, Venkatasamy Jagannathan, Sai Satish and Bergis Meenu Desai.

Star Health, the leading private health insurance company in the country, is owned by a consortium of investors like Westbridge Capital and Rakesh Jhunjhunwala.

6 Biggest Companies Receives Capital Market

The IPO of Hyderabad-based Penna Cement includes fresh issue of equity shares worth Rs 1,300 crore and an offer for sale by the promoter for up to Rs 250 crore, according to DRHP.

The IPO of Latent View Analytics consists of fresh issue of equity shares worth Rs 474 crore and offer for sale of equity shares worth Rs 126 crore by a promoter and existing shareholders.

Under the offer for sale, promoter Adugudi Viswanathan Venkataraman will sell shares worth Rs 60.14 crore, shareholder Ramesh Hariharan will sell shares worth Rs 35 crore and Gopinath Koteswaran will sell shares worth Rs 23.52 crore.

The IPO of Sigachi Industries, a cellulose based accessory maker, will see sale of 76.95 lakh equity shares.

The shares of all the six companies will be listed on BSE and NSE.

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