SEBI Nod To Three IPOs: ESDS Software, BLS Polymers And Dhariwal Buildtech

The Securities and Exchange Board of India has given a green light to initial public offerings for three companies — ESDS Software Solution, BLS Polymers, and Dhariwal Buildtech.

This will now pave the way for these players to make their D-Street debuts in the coming months.

Dhariwal Buildtech Ltd.'s initial public offering is set to raise up to Rs 950 crore through a fresh issue of equity shares. Incorporated in Hisar, Haryana, the company will issue new shares aggregating up to Rs 950 crore, with a face value of Rs 10 each. There is no offer-for-sale component in this IPO.

Dhariwal Buildtech is also considering a pre-IPO placement of up to Rs 190 crore, or 20% of the fresh issue size, which would reduce the public offering amount accordingly. The equity shares are set to be listed on both the BSE Ltd. and the National Stock Exchange of India Ltd.

Proceeds from the fresh issue are intended for general corporate purposes and to fund future growth initiatives.

ESDS Software Solution Ltd., an end-to-end AI-enabled cloud, data-centre infrastructure and software solutions provider, has received the nod for its initial public offering worth Rs 600 crore.

The IPO solely comprises a fresh issue with a face value of Re 1 per equity share. The equity shares are proposed to be listed on BSE Ltd. and the National Stock Exchange of India Ltd.

DAM Capital Advisors Ltd. and Systematix Corporate Services Ltd. are the book-running lead managers for the issue. MUFG Intime India Pvt. Ltd. will be the registrar of the issue.

Proceeds from the issue will be used to fund the purchase and installation of cloud computing and other equipment and infrastructure for the company's data centres. Additionally, the rest will be used for general corporate purposes.

BLS Polymers Ltd. had filed the draft red herring prospectus with SEBI in August this year to raise funds through an initial public offer.

BLS Polymers' IPO is a book-build Issue consisting solely of fresh issue of up to 1.7 crore equity shares. The equity shares are proposed to be listed on NSE and BSE.

Unicon Capital Services Pvt. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.