The Securities and Exchange Board of India on Friday approved seven IPO proposals including from real estate firm Runwal Developers Ltd. and paper manufacturer Silverton Industries Ltd. The market regulator issued its 'observation letter' to the draft documents of the IPOs, which means final approval in SEBI parlance.
Nearly 60 draft offer documents are under process with the SEBI. Deon Energy Ltd. withdrew its IPO filings.
Runwal Developers IPO
Mumbai-based Runwal Developers' public offer will include mix of fresh issues of shares worth Rs 1,700 crore and an offer-for-sale up to Rs 300 crore by promoter selling shareholders. The company may consider an issue of equity shares aggregating up to Rs 340 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.
Proceeds from the fresh issue worth Rs 1,300 crore will be used for prepayment or repayment of outstanding borrowings availed by the company and its subsidiaries. The remaining funds will be utilised for general corporate purposes.
Silverton Industries IPO
Eco-friendly paper manufacturer Silverton Industries' proposed IPO is a blend of fresh issuance of shares valued at Rs 300 crore, with an offer-for-sale of 3.22 crore equity shares from the promoters, according to the DRHP.
The company specialises in the manufacturing and marketing of eco-friendly specialty paper, serving a diverse spectrum of end-use industries. Their comprehensive range of paper-based products includes writing and printing paper, kraft paper, cupstock paper, and various other specialised grade papers.
Lalbaba Engineering IPO
The public offer will include mix of fresh issues of shares worth Rs 630 crore and an offer-for-sale up to Rs 370 crore by promoter selling shareholders. Proceeds from the fresh issue worth Rs 271.2 crore will be used for expansion of Haldia Facility while Rs 209 crore will be used for repayment or prepayment in full or in part of certain outstanding borrowings availed by the company.
The West Bengal-based company is an engineering solutions company focused on the development and manufacture of high-performance seamless tubes, precision forgings and integrated rail systems. The company has three verticals tubular solutions, forging solutions and railway systems.
Augmont Enterprises IPO
Augmont Enterprises' public offer will include mix of fresh issues of shares worth Rs 620 crore and an offer-for-sale up to Rs 180 by promoter selling shareholders. Proceeds from the fresh issue worth Rs 465 crore will be used for funding future working capital requirements towards procurement, maintenance and scaling up of inventory and to fund advance margin requirements for procurement of inventory.
The Mumbai-based company operates across multiple segments of the gold and silver value chain including procurement and refining, bullion trading, digital gold offerings, jewellery manufacturing, international sales and facilitating gold-backed financial services.
Supreet Chemicals IPO
Supreet Chemicals Ltd., a Gujarat-based speciality chemical company, plans to raise Rs 499 crore through the public issue, which will consist entirely of a fresh issue. The company proposes to utilise the net proceeds from the issue ffor financing the capital expenditure requirements and repayment of certain debt.
CJ Darcl Logistics IPO
CJ Darcl Logistics' IPO comprises a fresh issue of up to 2.64 crore shares and an OFS of 99.05 lakh equity shares by promoters. The funds garnered through the fresh issue will be earmarked for purchasing of equipment and payment of debt.
The company's service portfolio includes full truck load (FTL), rail transportation, air cargo, coastal shipping, project logistics, freight forwarding, and warehousing and distribution solutions.
Gaudium IVF and Women Health IPO
Gaudium IVF and Women Health plans an IPO comprising a fresh issue of 1.14 crore equity shares and an OFS of nearly 95 lakh shares by promoter Manika Khanna. The company intends to use the fresh issue proceeds for capital expenditure of Rs 50 crore to set up 19 new IVF centres across India, repayment or prepayment of borrowings worth Rs 20 crore, and general corporate purposes.
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