From Jana Small Finance Bank to DOMS Industries — 5 new companies get SEBI nod to go public
India Shelter Finance files for ₹1,800 crore IPO paper with Sebi Two additional companies that received approval from the regulator to launch their initial public offerings are Shiva Pharmachem, based in Vadodara, and Onest Ltd, a fast-moving consumer goods (FMCG) company. Five companies had submitted initial public offering (IPO) documents or draft papers to the regulator from July to August received observation letters between November 7 and 16, according to a Tuesday update from the Sebi. Also read: Shiva Pharmachem files DRHP to raise ₹900 crore via IPO In Sebi's terminology, securing observation letters implies approval to initiate the IPO.
Based on the preliminary documents, India Shelter Finance's proposed ₹1,800-crore IPO involves a fresh issuance of equity shares valued at ₹1,000 crore and an ₹800 crore Offer for Sale (OFS) by investor shareholders. Participating in the OFS are entities such as Catalyst Trusteeship Ltd, Madison India Opportunities IV, MIO Starrock, Nexus Ventures III Ltd, and Nexus Opportunity Fund II Ltd. Supported by Westbridge Capital and Nexus Venture Partners, India Shelter Finance intends to use the funds from the fresh issue for future capital needs in lending and general corporate purposes.
The debut public offering of the pencil manufacturer comprises a fresh issue of up to ₹350 crore and an OFS of up to ₹850 crore by promoters, as outlined in the draft red herring prospectus (DRHP). Within the OFS, corporate promoter F.I.L.A. — Fabbrica Italiana Lapis ed Affini S.p.A.
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