Market regulator SEBI ( Securities and Exchange Board of India) has approved a total of six companies, including Canara Robeco Asset Management Company and Hero Motors, to launch initial public offers (IPOs). The companies that have received approval to launch IPO also include Pine Labs, Orkla India, Manipal Payment and Identity Solutions and MV Photovoltaic Power. According to the updated information available on the website of the Securities and Exchange Board of India (SEBI), these companies had filed draft documents related to IPO between April and July. These companies received regulatory 'comments' from SEBI between September 2 and 12. Getting comments in regulatory language means approval to go ahead with the IPO.
These companies had filed their draft IPO documents between April and July and received SEBI's comments between September 2 and 12. All six companies are slated to list their shares on both the BSE and NSE.
Canara Robeco Asset Management Company
- The IPO consists of 4.98 crore equity shares.
- The entire IPO is an Offer for Sale (OFS), meaning the company will not receive any proceeds.
- Promoter Canara Bank will sell 2.59 crore shares.
- Orix Corporation Europe NV will sell 2.39 crore shares.
Hero Motors
- The company plans to raise approximately Rs 1,200 crore.
- The IPO will be a combination of a fresh issue and an OFS.
- The fresh issue will be for Rs 800 crore.
- The OFS will be for Rs 400 crore.
Pine Labs
- The IPO will be a combination of a fresh issue and an OFS.
- The fresh issue of shares will be worth Rs 2,600 crore.
- The OFS will involve the sale of over 14.78 crore shares by existing investors, including Temasek and Peak XV Partners.
Orkla India
- The IPO will be a pure Offer for Sale (OFS).
- Promoters and other existing shareholders will sell 2.28 crore shares.
- The company, which owns food brands like MTR and Eastern, will not raise any new capital for itself.
Manipal Payment and Identity Solutions
- The company has filed its draft documents confidentially with SEBI.
- It is reportedly planning to raise about Rs 1,200 crore.
Emmvee Photovoltaic Power
- The company is aiming for a Rs 3,000 crore IPO.
- The IPO will include a fresh issue of shares worth Rs 2,143.86 crore.
- The OFS component will be for Rs 856.14 crore.
