Five Companies Secure Approval for Initial Public Offerings in India
Five companies get regulator's approval for public issues
The Economic Times
Image: The Economic Times
The Securities and Exchange Board of India (SEBI) has granted approval for initial public offerings (IPOs) from five companies: Dhoot Transmission, Horizon Industrial Parks, Hotel Polo Towers, Crystal Crop Protection, and Surgiwear. These companies aim to raise significant funds through their respective public issues.
- 01Dhoot Transmission plans to raise approximately ₹2,258 crore (roughly $272 million USD) through its IPO.
- 02Horizon Industrial Parks aims for a ₹2,600 crore (roughly $312 million USD) fresh issue.
- 03Hotel Polo Towers is set to raise ₹300 crore (roughly $36 million USD) through its IPO.
- 04Crystal Crop Protection's IPO will consist of a fresh issue of ₹600 crore (roughly $72 million USD).
- 05Surgiwear's IPO details have not been specified in the announcement.
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The Securities and Exchange Board of India (SEBI) has approved the initial public offerings (IPOs) for five companies, signaling a positive development in the Indian capital markets. Dhoot Transmission, backed by Bain Capital, is expected to raise ₹2,258 crore (approximately $272 million USD) through a combination of a fresh issue and an offer for sale (OFS). Horizon Industrial Parks, supported by Blackstone, aims to generate ₹2,600 crore (around $312 million USD) entirely through a fresh issue. Hotel Polo Towers has received approval for its IPO, which includes a fresh issue of ₹300 crore (about $36 million USD) and an OFS of up to 71.2 lakh shares. Crystal Crop Protection plans to raise ₹600 crore (approximately $72 million USD) through its IPO, which will also include an OFS of up to 74 lakh shares. The lead managers for these offerings include Axis Capital, JM Financial, and Equirus Capital.
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The approval of these IPOs is expected to enhance market liquidity and provide investment opportunities for retail and institutional investors.
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