Four companies get Sebi's nod to launch IPOs
Entero Healthcare Solutions, JNK India, Exicom Tele-Systems and Akme Fintrade (India) have received markets regulator Sebi's approval to raise funds through initial public offerings. However, the Securities and Exchange Board of India has returned the IPO papers of Stallion India Fluorochemicals.
As per the processing status of draft offer documents till January 19, the watchdog has approved the initial public offering (IPO) of the four companies.
These four firms, which had filed their preliminary papers with the markets watchdog between June and October, obtained observation letters on January 16-19, an update with the Securities and Exchange Board of India (Sebi) showed on Thursday.
In Sebi's parlance, obtaining observation letters means its go-ahead to launch an IPO.
Going by the draft papers of Entero Healthcare Solutions, the IPO comprises a fresh issue of equity shares worth up to Rs 1,000 crore and an Offer For Sale (OFS) component of up to 85.57 lakh equity shares.
Those selling shares in OFS are promoters Prabhat Agrawal, Prem Sethi, and OrbiMed Asia III Mauritius Ltd, and other shareholders Chethan MP, Deepesh T Gala, Hemant Jose Barros, Hemant Jaggi, KRVS Varaprasad, K E Prakash and Lavu Sahadev.
Entero Healthcare Solutions was founded in 2018 by Prabhat Agarwal and Prem Sethi.
The public issue of JNK India consists of a fresh issue of equity shares worth up to Rs 300 crore and an OFS of up to 84.21 lakh equity shares by promoters and an existing shareholder.
