Upcoming IPO: Market regulator SEBI on Monday approved four companies to launch their IPO. These include Akums Drugs and Pharmaceuticals, Gold Plus Glass Industry Limited, Seagull India and Orient Technologies.
Upcoming IPO: Market regulator SEBI on Monday approved the IPO of four companies. These include Akums Drugs and Pharmaceuticals, Gold Plus Glass Industry Limited, Seagull India and Orient Technologies. These companies had filed their IPO documents with SEBI in February. According to the information, the regulator’s comments were received from June 29 to July 2. In SEBI’s language, receiving comments means approval of the IPO.
Akums Drugs and Pharmaceuticals IPO
According to the draft papers of Akums Drugs and Pharmaceuticals, this IPO is a combination of fresh equity shares of Rs 680 crore and OFS of 1.86 crore shares. The promoters selling shares in the OFS are Sanjeev Jain, Sandeep Jain and Ruby QC Investment Holdings Private Limited.
what the company does ?
Founded in 2004, Akums is a pharmaceutical contract development and manufacturing organization (CDMO) offering a wide range of pharma products and services in India and abroad. According to information from draft papers, the proceeds from
the new issue will be used to repay debt, meet the company’s working capital requirements, pursue inorganic growth initiatives through acquisitions and for general corporate purposes.
Gold Plus Glass IPO
The IPO of float glass manufacturer Gold Plus Glass Industry is a
combination of equity shares worth Rs 500 crore and 1.56 crore shares OFS. Suresh Tyagi, Jimmy Tyagi, PI Opportunities Fund-I and Kotak Special Situations Fund are going to sell their shares in its OFS.
Applied for IPO in 2022 as well
The Delhi-based company is one of the leading float glass manufacturers in India with a 22 per cent share in manufacturing capacity as of September 2023. The company’s products cater to a range of end-use industries including automotive, construction and industrial sectors. In April 2022, the company filed draft papers with SEBI to raise funds through an IPO. The company had also received regulatory approval to issue the issue,
but did not launch it.
Ceigall India IPO
The IPO of infrastructure company Ceigall India is a combination of a fresh issue of Rs 617.69 crore and an offer for sale (OFS) of 1.43 crore equity shares by promoters and an individual selling shareholder. This includes reservation for subscription by eligible employees.
What does the company do
Founded in 2002, Ceigall India is an infrastructure construction company with experience in undertaking special structural works such as elevated roads, flyovers, bridges, railway over bridges, tunnels, highways, expressways and runways. As of January 2024, the company’s order book stood at Rs 9,206.42 crore, with NHAI contributing 82 per cent to the order book.
Orient Technologies IPO
According to the draft red herring prospectus (DRHP) of IT solutions provider company Orient Technologies, the initial share sale is a combination of a fresh issue of Rs 120 crore and an offer for sale of up to 46 lakh equity shares by the promoters. Those selling
shares in the OFS are Ajay Baliram Sawant, Umesh Navnitlal Shah, Ujjwal Arvind Mhatre and Jayesh Manharlal Shah.