6 companies, including Nykaa and Adani Wilmar, get nod for IPOs. Details here

These 6 companies filed their preliminary IPO papers with Sebi between May and August and got its "observations" or its nod between October 11 and October 14 to float the IPOs.
These 6 companies received clearance from Sebi this month to launch their IPOs. (Representative Image)
These 6 companies received clearance from Sebi this month to launch their IPOs. (Representative Image)
Published on Oct 18, 2021 02:18 PM IST
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Byhindustantimes.com | Written by Meenakshi Ray, New Delhi

As many as six companies—Nykaa, Adani Wilmar and Star Health & Allied Insurance, Penna Cement Industries, Latent View Analytics and Sigachi Industries—have received clearance from the Securities and Exchange Board of India (Sebi) to launch initial public offerings (IPOs).

According to an update with the capital markets regulator on Monday, these six companies filed their preliminary IPO papers with Sebi between May and August and got its "observations" or its nod between October 11 and October 14 to float the IPOs.

The IPO of FSN E-Commerce Ventures Ltd, which runs an online marketplace for beauty and wellness products Nykaa, comprises a fresh issue of equity shares worth 525 crore and an offer for sale (OFS) of 43,111,670 equity shares by a promoter and existing shareholders.

Promoter Sanjay Nayar Family Trust and shareholders, TPG Growth IV SF Pte Ltd, Lighthouse India Fund III, Lighthouse India III Employee Trust, Yogesh Agencies & Investments, J M Financial and Investment Consultancy Services and some individual shareholders are selling shares in the OFS.

News agency PTI reported citing people familiar with the matter that the Nykaa IPO is expected to fetch 3,500-4,000 crore valuing the company in the range of $5 billion to $5.5 billion.

Adani Wilmar IPO will be in form of a fresh issue of equity shares for an amount of up to 4,500 crore (approximately $600 million) and there will not be any secondary offering. Adani Wilmar, which sells cooking oils under the Fortune brand, is a 50:50 joint venture company between the Adani group and the Wilmar group.

Star Health and Allied Insurance Company's IPO comprises a fresh issue of equity shares worth 2,000 crore and an offer for sale of up to 60,104,677 equity shares by promoters and existing shareholders, according to the draft red herring prospectus (DRHP).

Those offering shares through the offer for sale are promoter 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 Pty Ltd, Venkatasamy Jagannathan, Sai Satish and Berjis Minoo Desai.   

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

Penna Cement's IPO has a fresh issue of equity shares worth 1,300 crore and an offer for sale of up to 250 crore by the promoter, as per the DRHP. Latent View Analytics' IPO also consists of a fresh issue of equity shares worth 474 crore. It also has an offer of sale of equity shares to the tune of 126 crore by a promoter and existing shareholders. 

Promoter Adugudi Viswanathan Venkatraman will offload shares worth 60.14 crore, shareholder Ramesh Hariharan will sell 35 crore shares and Gopinath Koteeswaran will offload 23.52 crore shares among others.

Sigachi Industries IPO will see a sale of up to 76.95 lakh equity shares. Sigachi is a manufacturer of cellulose-based excipient.

(With agency inputs)

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Monday, December 06, 2021