NEW DELHI: Eight companies, including real estate firm Eldeco Infrastructure and Properties and Associated Power Structures, have received approval from Sebi to raise funds via initial public offerings (IPO), as reported by the market regulator on Friday.
Other companies that gained regulatory consent include HD Fire Protect Ltd, Xtranet Technologies, Parijat Industries India, Rotomag Enertec, CSM Technologies, and AITMC Ventures Ltd.
The eight firms filed their preliminary IPO applications with Sebi between September and October, obtaining the regulator’s observations from January 28 to 30. In regulatory terms, this observation signifies clearance to proceed with a public issue.
Eldeco Infrastructure and Properties Ltd, based in Haryana, plans to issue a public offer combining fresh shares worth ₹800 crore and an offer for sale (OFS) of up to ₹200 crore from promoters.
Of the fresh issue, ₹600 crore will be allocated to repay loans of Eldeco Infracon Realtors Ltd, a subsidiary. The remaining funds will be earmarked for general corporate uses.
According to the draft documents submitted by Associated Power Structures, its proposed IPO consists of a fresh equity issue worth ₹400 crore and an OFS of approximately 71.43 lakh equity shares by its promoters.
HD Fire Protect, a Mumbai-based supplier of firefighting products, offers an IPO entirely as an OFS of 2,628,450 equity shares by its promoters.
For agrochemical producer Parijat Industries (India) Ltd, the public issue combines a fresh equity issue worth ₹160 crore and an OFS of about 2.04 crore shares held by promoters and existing shareholders.
The fresh issuance proceeds of ₹121.6 crore will be used for debt repayment and general corporate purposes.
Rotomag Enertec, a Gujarat-based company specializing in industrial drive solutions and renewable energy products, presents an IPO comprising fresh issues of shares valued at ₹500 crore and an OFS of up to 24,040,162 shares from selling shareholders.
CSM Technologies, based in Bhubaneswar, proposes an IPO that features a fresh issue of 1.29 crore equity shares, without any OFS component. Proceeds will support growth initiatives, enhance technological infrastructure, settle debts, and other corporate needs.
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