7-firms get Sebi nod to float IPOs
New Delhi:As many as seven companies, including real estate firm Runwal Developers, engineering solutions provider Lalbaba Engineering, and gold and silver platform Augmont Enterprises, have received approval from Sebi to raise funds through IPOs, according to an update released by the regulator on Friday. Other companies that secured regulatory clearance include specialty chemicals maker Supreet Chemicals, eco-friendly paper manufacturer Sillverton Industries, logistics services provider CJ Darcl Logistics, and fertility services firm Gaudium IVF, and Women Health Ltd.
These seven companies, which filed their draft initial public offering (IPO) papers between June and October, received Sebi’s observations during January 12 to 15. In regulatory parlance, the receipt of observations allows companies to proceed with their public issues. Meanwhile, Deon Energy has withdrawn its draft IPO papers.
Runwal Developers plans to raise Rs 2,000 crore through its maiden public issue, comprising a fresh issue of shares worth Rs 1,700 crore and an offer for sale (OFS) of Rs 300 crore by promoter Sandeep Subhash Runwal, as per the draft red herring prospectus (DRHP). Proceeds from the fresh issue will be used to repay debt availed by the company and its subsidiaries, and for general corporate purposes. Kolkata-based Lalbaba Engineering proposes to raise Rs 1,000 crore through its IPO, including a fresh issue of Rs 630 crore and an OFS of Rs 370 crore by promoters.
