Sheela Foam, Aster DM Healthcare Get Sebi Nod For IPO
New Delhi: Two companies - Sheela Foam and Aster DM Healthcare - have received approval of the Securities and Exchange Board of India (Sebi) to float initial public offerings (IPO).
Sheela Foam, maker of Sleepwell mattresses, had filed draft papers with the market regulator in July, while Aster DM Healthcare, which runs hospitals in India and Middle East, had applied for IPO in June.
Sebi issued its final 'observations' on the draft documents of Sheela Foam and Aster DM Healthcare on November 2 and November 3, respectively, as per the latest update available with Sebi.
Sebi's 'observations' are necessary for any company to launch a public offer.
Sheela Foam filed draft red herring prospectus (DRHP) with Sebi for its Rs 510-crore offer for sale.
The company, which has 12 manufacturing facilities, developed a pan-India distribution network consisting of over 100 exclusive distributors, more than 2,000 exclusive retail dealers and over 2,500 multi-brand outlets. The firm exports its products to 25 countries.
Sheela Foam also manufactures foam-based home comfort products like mattresses, furniture-cushioning, pillows, cushions and sofa-cum-beds.
Edelweiss Financial Services and ICICI Securities are the merchant bankers of the initial public offer (IPO).
Aster DM Healthcare's IPO comprises up to 57,685,166 equity shares. This include fresh issuance of shares as well as offer for sale by existing investors.
The issue is being managed by Kotak Mahindra Capital, Bank of America Merrill Lynch, Goldman Sachs, Edelweiss, ICICI Securities, JM Financial and SBI Capital Market.
So far this year, 24 companies have launched their initial public offerings.
-
One El Nino, India Can Handle. Two Could Break The Granary
India's grain stocks can absorb one bad year, but a second El Nino could drain the buffer in two to three years, economists say.
-
India's Troika Of Good Luck | Joining The Dots
As Jensen Huang's exit drags Nvidia down, a cooling AI trade and resilient earnings have revived investor interest in India. A likely RBI rate hike looms.
-
Talking Points This Week: Leadership Shock At Nvidia, Earnings Strength, And The Fog Over Hormuz
The Anthropic IPO pricing and first trading day, Nvidia's upcoming earnings, and any fresh signals from Iran will set the tone for the following week.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
