SEBI has cleared six initial public offerings including those of Vishvaraj Environment, Prasol Chemicals, SAEL Industries, NoPaperForms Solutions, Symbiotec Pharmalab and Shah Investor’s Home, while Jindal Supreme (India) withdrew its proposed IPO.
Vishvaraj Environment, a leading developer of water utility and wastewater management projects, plans to raise ₹2,250 crore through the proposed IPO.
The company’s initial public offering comprises a fresh equity issuance of ₹1,250 crore and an offer for sale (OFS) of ₹1,000 crore by the promoter selling shareholder, Premier Financial Services.
The company plans to use proceeds to repay loans of ₹545 crore and fund capex for three projects of ₹415 crore, besides general corporate purposes.
JM Financial, Axis Capital and DAM Capital Advisors are the book-running lead managers to the issue.
Symbiotec Pharmalab will raise ₹2,180 crore through its IPO comprising fresh issue of equity shares worth up to ₹150 crore and an offer for sale of up to ₹2,030 crore by existing promoters and investors. The funds will be used for debt repayment and general corporate purposes.
Prasol Chemicals plans to raise ₹500 crore through IPO. The company will issue fresh equity shares of ₹80 crore and an offer for sale of up to ₹420 crore by existing shareholders.
Info Edge-backed NoPaperForms Solutions will raise ₹500 crore to ₹600 crore through fresh equity issuance and offer for sale. The SaaS platform provider filed its draft papers for the IPO last November.
The Shah Investor’s Home IPO consists of a fresh issue of 54 lakh equity shares. The company provides a comprehensive suite of services including mutual fund distribution, margin funding, and stock lending and borrowing.