Market regulator Security and Exchange Board of India (SEBI) has given permission to total 5 companies including Swiggy and Hyundai Motor India to launch their Initial Public Offering i.e. IPO.
The market regulator today (Monday, September 30) also gave approval to Acme Solar Holdings, Vishal Mega Mart and Mamta Machinery to go ahead with their IPO schemes.
SEBI issued observation letters to Swiggy and Hyundai Motor India on September 24 and Vishal Mega Mart on September 25, while Acme Solar Holdings and Mamta Machinery received observation letters on September 27.
In SEBI language, this letter means that the company will have to launch IPO within one year of its issue.
Swiggy will bring IPO worth Rs 3,750 crore
Swiggy, the second largest food delivery company in India, had filed confidential papers for IPO in April this year. Once again on September 26, the company filed an updated draft.
According to the updated filing, the company will issue fresh shares worth Rs 3,750 crore, in which existing shareholders will sell shares worth Rs 18.52 crore through Offer for Sale i.e. OFS.
According to media reports, after getting approval from the market regulator, the company can launch IPO in November this year.
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Hyundai Motor will bring the biggest IPO ever in the Indian market
Hyundai Motors India is preparing to launch the biggest ever Initial Public Offering i.e. IPO in the Indian market. According to media reports, the company may launch IPO in October next month.
Hyundai had filed draft red herring prospectus (DRHP) with the Securities Exchange Board of India in June 2024 to launch an IPO.
The company is considering raising about Rs 25,000 crore through IPO, for which the company will not issue a single new share. Existing investors and promoters of the company will sell their shares through Offer for Sale (OFS).
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Vishal Mega Mart will raise 1 billion dollars through IPO
Kedra Capital and Partners Group-backed Vishal Mega Mart is a major fashion-led hypermarket chain in India. The company is planning to raise about $ 1 billion (about Rs 8,378 crore) from the market through IPO.
Kotak Mahindra Capital, Jefferies, JP Morgan, ICICI Securities and Morgan Stanley are the lead managers of its initial share sale. Vishal Mega Mart had received draft papers from the company on July 29 from SEBI.
Acme Solar Holdings to raise ₹3,000 crore through IPO
Gurugram-based renewable energy company Acme Solar Holdings had on July 2 filed initial papers with SEBI to raise funds of about Rs 3,000 crore through a median public issue.
Acme Solar will issue fresh shares worth Rs 2,000 crore in this IPO. At the same time, the company's promoter ACME Cleantech Solutions will sell shares worth Rs 1,000 crore through Offer for Sale.
At the same time, Gujarat based packaging equipment manufacturing company Mamata Machinery had filed papers for IPO on September 28. In this IPO, the promoters of the company will offer 73.82 lakh equity shares through offer for sale.
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