Market regulator SEBI has today given its approval for not one or two, but three huge IPOs. The companies which have been allowed by SEBI to bring public issue include Clean Science and Technology, Shriram Properties and GR Infraprojects.
These three companies had applied for IPO launch in April, 2021. Clean Science Tech is planning to raise Rs 1400 from the primary market through this IPO. At the same time, Shriram Properties will bring an IPO to raise Rs 800 crore. Similarly, GR Infra will launch a public issue to raise Rs 800 to 1000 crore.
Clear Science and Technology
Pune-based Clean Science and Technology Company, one of the world’s largest specialty chemical companies, will raise Rs 1,400 crore from the primary market. The company will not issue any fresh shares for this public issue. The promoters and existing investors of the company will sell the shares.
Let us tell you that Clean Science Tech is the world’s largest company in the manufacture of specialty chemicals like MEHQ, BHA, Anisol and 4-MAP. The company also produces performance chemicals, FMCG chemicals as well as pharmaceutical chemicals used in making medicines.
According to the draft Red Herring Prospectus (DRHP) filed with SEBI, the company will issue shares through Promoter Offer for Sale (OFS) for this IPO. The promoters of the company Ashok Ramnarayan Boob and Asha Ashok Boob will issue shares worth Rs 446.70 crore. Both will issue equal shares.
listed with 5% stake sale, while Krishnakumar Narayan will issue shares worth Rs 83.08 crore. Apart from these, Ashokkumar Ramkishan Sikchi HUF will issue shares worth Rs 124.53 crore, Asha Ashok Sikchi Rs 104.47 crore and Siddharth Ashok Sikchi Rs 37.08 crore.
Shriram Properties
Bengaluru-based real estate company Shriram Properties Pvt. Ltd is set to raise Rs 800 crore from the primary market. Shriram Properties will issue fresh equity shares worth Rs 250 crore for this IPO. Also, the promoters and existing investors of the company will issue shares worth Rs 550 crore for this public issue.
this The company will use the money raised through this IPO to pay off its debt. Through this IPO, the company will provide exit routes to its existing investors Walton Street Capital, Starwood Capital Group, Tata Capital Limited and TPG Capital.
In this IPO, Omega TC Sabre Holdings Pte Ltd will issue shares worth Rs 147.10 crore. At the same time, Tata Capital Financial Services will sell shares worth Rs 13 crore. TPG Asia SFV Pte will issue shares worth Rs 148.90 crore and Walton Street Capital and Starwood Capital Group will issue shares worth Rs 216 crore.
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