Market regulator SEBI has cleared draft papers of four companies – Bonfiglioli Transmissions, Casagrand Premier Builder, Bombay Coated & Special Steels Ltd and Swaraj Green Power and Fuel Ltd – to launch initial public offerings. .
Bonfiglioli Transmissions Ltd, one of India’s largest technology-led mechanical and electro-mechanical power transmissions and industrial drive solutions providers, has received observations from SEBI for its proposed IPO.
The offer comprises an offer for sale aggregating up to 4.70 crore shares by Bonfiglioli SpA (Promoter Selling Shareholder). The face value of each equity share is ₹10.
Bonfiglioli Transmissions Ltd is a part of Italy’s Bonfiglioli S.p.A, manufactures gearboxes and drives for original equipment manufacturers (OEMs) and end-users engaged in Industry & automation Solutions (gear motors < 15 kNm), Off-Highway Mobility and Wind Industries.
Casagrand
The IPO of Chennai-based Casagrand consists of a fresh issue up to ₹1,200 crore and an offer for sale up to ₹20 crore by promoters – Arun MN, and Casagrand Luxor Pvt Ltd.
The proceeds from its fresh issuance worth ₹250 crore will be utilised for prepayment or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company, ₹650 crore for prepayment or repayment, in full or part, of all or a portion of certain outstanding borrowings availed by its wholly owned subsidiaries, CG Magick, CG Civil Engineering, CG Fresh, CG Bizpark, CG Shelter, CG Lotus, CG Everta, CG Hyderwise, CG Zingo, and wholly owned step-down subsidiaries, CG Anchor and Danub Homes, through investment in such wholly owned subsidiaries/ step-down subsidiaries, and general corporate purposes.
Bombay Coated
The Mumbai-based Bombay Coated & Special Steels is entirely a fresh issue up of to ₹191 crore.
The proceeds from its fresh issuance worth ₹125 crore will be utilised for prepayment/repayment of certain outstanding borrowings availed by the Company, in part or full; ₹18 crore for financing the cost towards acquisition of capital equipment under existing lease arrangements with Siemens Financial Services Private Limited, and general corporate purposes.
The company caters to a diversified customer base comprising original equipment manufacturers (OEMs) and original design manufacturers (ODMs). The company, being a steel processing centre (SPC), operates as an intermediary between primary steel producers and end-users by providing value-added processing services.
Swaraj Green
Swaraj Green Power & Fuel Ltd has confidentially filed its draft IPO papers with SEBI on March 16. The proposed issue comprises both a fresh issue and an offer for sale (OFS).