As many as six companies including Aptus Value Housing Finance, CarTrade Tech, and Supriya Lifescience have received capital markets regulator Sebi’s go-ahead to float initial share-sales. The other firms that received the regulator’s nod are– Krsnaa Diagnostics, Vijaya Diagnostic Centre, and Ami Organics.
The six firms, which had filed their respective preliminary IPO papers with the markets regulator between May and June, obtained their observations during July 19-23, an update with Sebi showed on Monday.
Aptus Value’s initial public offer (IPO) comprises a fresh issue of equity shares aggregating to Rs 500 crore and an offer for sale of up to 64,590,695 equity shares by the promoter and existing shareholders, draft red herring prospectus (DRHP) showed.
Proceeds from the fresh issue will be utilised towards augmenting the company’s capital base and to meet future growth requirements. According to merchant banking sources, the IPO is expected to fetch Rs 2,600-3,000 crore.
Online auto classifieds platform CarTrade Tech IPO will be entirely an offer for sale (OFS) of 12,354,811 equity shares. Among the investors participating in the OFS are CMDB II (16.07 lakh equity shares), Highdell Investment Ltd (53.79 lakh shares), Macritchie Investments Pte Ltd (35.68 lakh shares), Springfield Venture International (11.24 lakh shares), and Bina Vinod Sanghi (1.83 lakh shares).
Currently, CMDB II holds 11.93 per cent stake in CarTrade, Highdell Investment owns 34.44 per cent stake, MacRitche Investment has 26.48 per cent shareholding, and Springfield Venture International holds 7.09 per cent stake in the company.
Founded in 2009, CarTrade is backed by marquee investors — Warburg Pincus, Temasek, JP Morgan, and March Capital. Supriya Lifescience’s IPO comprises a fresh issue of equity shares worth Rs 200 crore and an offer for sale of up to Rs 1,000 crore by its promoter Satish Waman Wagh.
Proceeds from the fresh issue will be used for funding capital expenditure requirements, repaying debt, and general corporate purposes. Supriya Lifescience is one of the key Indian manufacturers and suppliers of active pharmaceutical ingredients (APIs), with a focus on research and development.
Krsnaa Diagnostics’ IPO consists of a fresh issue of equity shares worth Rs 400 crore and an offer for sale of up to 94,16,377 shares by its existing shareholders. Those offering shares in the OFS are — Phi Capital, Kitara, Somerset Indus Healthcare Fund Ltd, and Lotus Management Solutions.
Proceeds from the fresh issue will be used for financing the cost of establishing diagnostics centers at Punjab, Karnataka, Himachal Pradesh, and Maharashtra; repayment of loans availed by the company, and general corporate purposes.
Vijaya Diagnostics’ public issue is entirely an offer for sale of 35,688,064 equity shares by the promoter, S Surendranath Reddy, and investors — Karakoram Ltd and Kedaara Capital Alternative Investment Fund. The initial share sale will see a stake dilution of 35 per cent by the promoter and existing shareholders.
Specialty chemicals maker Ami Organics’ public issue comprises a fresh issue of equity shares worth Rs 300 crore and an offer for sale of up to 6,059,600 equity shares by the promoter and existing shareholders. The company will utilise Rs 140 crore from the IPO proceeds towards repayment of certain debt and Rs 90 crore for funding working capital requirements.
Ami Organics is one of the leading R&D driven manufacturers of specialty chemicals with varied end usage, focussed on the development and manufacturing of pharma intermediates for regulated and generic APIs and NCE (new chemical entity) and key starting material for agrochemical and fine chemicals.
