Seven companies, including FabIndia, a lifestyle retail brand, and Aether Industries, a specialty chemical manufacturer, have received approval from capital markets regulator Sebi to seek cash through initial share sales.
The watchdog also approved Syrma SGS Technology, Asianet Satellite Communications, Sanathan Textiles, Capillary Technologies India, and Harsha Engineers International to issue Initial Public Offerings (IPOs).
The company’s founders also intend to give away over 7 lakh shares to artisans and farmers
These firms, which submitted preliminary IPO papers with Sebi between December 2021 and February 2022, received observations between April 27 and 30, according to a Sebi bulletin on May 1st.
Sebi’s observation denotes that the business in question has received authorization to launch the IPO.FabIndia’s IPO involves a fresh issue of shares worth up to Rs 500 crore, according to the Draft Red Herring Prospectus (DRHP).
In addition, an Offer For Sale (OFS) of up to 2,50,50,543 shares will be made. The company’s founders also intend to give away over 7 lakh shares to artisans and farmers.
According to market reports, the IPO will be worth roughly Rs 4,000 crore
The public offering of Aether Industries consists of a fresh issue of equity shares for Rs 757 crore and an OFS of up to 2,751,000 equity shares. The corporation may potentially contemplate issuing equity shares through a preferential offer to raise Rs 131 crore. According to market reports, the company’s IPO is likely to raise Rs 1,000 crore.
Asianet Satellite Communications, a leading internet service provider, wants to generate Rs 765 crore through an initial public offering. The IPO consists of a fresh offering of equity shares worth Rs 300 crore and a Hathway Investments offer for sale for up to Rs 465 crore.
