SEBI Issues Nod For IPOs Of Lenskart, Waterways Leisure, Wakefit, Others

Lenskart Solutions Ltd., Cordelia Cruises operator Waterways Leisure Tourism and Wakefit Innovations have received the go-ahead from Securities and Exchange Board of India on Monday for their initial public offerings.

The other IPOs that received the market regulator's green light include those of Shree Ram Twistex Ltd., Tenneco Clean Air India Ltd. and Lamtuf Ltd.

The market regulator issued its so-called 'observation letter' to these companies, which in SEBI parlance means an approval, on Monday.

SoftBank-backed Lenskart Solutions had filed draft papers for an initial public offering in July. The IPO will include fresh issue of up to Rs 2,150 crore, and an offer for sale of up to 13.2 crore shares by existing shareholders.

Among the selling shareholders, co-founder Peyush Bansal will sell over 2 crore shares, while other co-founders Amit Chaudhary and Sumeet Kapahi will sell 28.7 lakh shares each.

SoftBank affiliate SVF II Lightbulb (Cayman) Ltd. will sell 2.6 crore shares, while Kedaara Capital and Alpha Wave Ventures will also offload part of their stakes.

Waterways Leisure Tourism had filed its preliminary papers with the capital markets regulator SEBI to raise Rs 727 crore via an initial public offering. The proceeds from the fresh issue to the extent of Rs 552.53 crore will be used for payment towards deposit/advanced lease rental and monthly lease payments to its step-down subsidiary Baycruise Shipping and Leasing Pvt. and general corporate purposes.

Wakefit Innovations' public offer will include a mix of fresh issues of shares worth Rs 468.22 crore and an offer for sale of up to 5.8 crore equity shares.

The company, in consultation with the BRLMS, may consider an issue of equity shares aggregating up to Rs 93.64 crore as pre-IPO placement. If the pre-IPO placement is completed, the amount raised under the pre-IPO placement will be reduced from the fresh issue.

Tenneco Clean Air India is looking to raise up to Rs 3,000 crore via an initial public offering.

The public offer will include only an offer-for-sale component. Tenneco Mauritius Pvt. is the promoter who is offloading stake worth up to Rs 3,000 crore.

As per the latest filing, IPO applications of at least 61 companies are with the SEBI. Indian companies have been increasingly eyeing the primary market to raise funds amid rising retail participation in equities and growing confidence in the stock market.