Neolite ZKW Lightings, SS Retail, and Aspri Spirits Secure Sebi Approval for IPOs Exceeding ₹1,200 Crore
Neolite ZKW Lightings, SS Retail, Aspri Spirits get Sebi nod to float IPOs
Business Standard
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Neolite ZKW Lightings, SS Retail, and Aspri Spirits have received approval from the Securities and Exchange Board of India (Sebi) to collectively raise over ₹1,200 crore (approximately $145 million USD) through initial public offerings (IPOs). The funds will support various growth initiatives, including new manufacturing facilities and retail expansions.
- 01Neolite ZKW Lightings aims to raise ₹600 crore (approximately $72 million USD) for a new manufacturing facility in Kancheepuram, Tamil Nadu.
- 02SS Retail plans to raise ₹500 crore (approximately $60 million USD) to fund new store openings in tier-II and tier-III cities.
- 03Aspri Spirits is targeting ₹140 crore (approximately $17 million USD) to pay off debts and support its subsidiaries.
- 04All three companies will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
- 05The IPO approvals were granted during the period from May 6 to May 14, following their preliminary filings in December.
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Neolite ZKW Lightings, SS Retail, and Aspri Spirits have received approval from the Securities and Exchange Board of India (Sebi) to raise over ₹1,200 crore (approximately $145 million USD) through initial public offerings (IPOs). Neolite ZKW, a manufacturer of automotive lighting products, plans to raise ₹600 crore through a combination of a fresh issue of shares worth ₹400 crore and an offer for sale (OFS) of ₹200 crore. The funds will be used to establish a new manufacturing facility in Kancheepuram, Tamil Nadu, and for various corporate purposes. SS Retail aims to raise ₹500 crore, with ₹300 crore from new shares and ₹200 crore from an OFS, to support the opening of new stores in tier-II and tier-III cities across four states. Aspri Spirits targets ₹140 crore through a fresh issue and an OFS of 50 lakh shares, focusing on debt repayment and corporate needs. All three companies are set to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
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The IPOs will provide significant funding for expansion efforts, potentially creating new jobs and enhancing retail and manufacturing capabilities in their respective sectors.
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