The Securities and Exchange Board of India (SEBI) has approved several companies, including Premier Industrial Corporation and mattress maker Duroflex, to launch their initial public offerings (IPOs). The regulator has also cleared IPO proposals of Virupaksha Organics, Mumbai-based Hexagon Nutrition, and Om Power Transmission. According to SEBI data, companies that had filed draft papers between September and October received approval between February 10 and 13.
The approvals pave the way for fresh investment opportunities for stock market participants.
Premier Industrial Corporation IPO details
As per its draft documents, the proposed IPO of Premier Industrial Corporation comprises a fresh issue of up to 2.25 crore shares and an offer for sale (OFS) of up to 54 lakh shares.
The company received SEBI’s approval for its IPO on February 10.
Duroflex IPO structure
Duroflex secured SEBI approval on February 12. The IPO will involve a total of 2.25 crore shares, including a mix of fresh issue and shares to be sold by promoters and existing investors.
The company is the third-largest mattress manufacturer in the country by market share.
Virupaksha Organics to raise Rs 740 crore
Virupaksha Organics plans to raise Rs 740 crore through its IPO. The issue will consist entirely of a fresh issue of shares, with no OFS component.
SEBI granted approval to the pharmaceutical company on February 12.
Hexagon Nutrition and Om Power Transmission
The proposed IPO of Hexagon Nutrition will be entirely an OFS, under which promoters and existing investors will sell over 3.08 crore shares. SEBI approved the IPO on February 10.
All five companies plan to list their shares on the BSE Ltd and the National Stock Exchange of India (NSE).
CleanMax’s Rs 3,100 crore IPO
Clean Max Enviro Energy Solutions, a commercial and industrial (C&I) renewable energy provider, on Tuesday said its Rs 3,100-crore initial public offering will open for subscription on February 23.
The company has fixed a price band of Rs 1,000-1,053 per share, valuing it at Rs 12,325 crore at the upper end.
