Sebi gives nod to Inventurus and Manjushree Technopack to float IPOs
Inventurus Knowledge Solutions and packaging company Manjushree Technopack have received a go-ahead from the Securities and Exchange Board of India (SEBI) to raise funds through initial public offerings (IPOs).
After refiling their IPO papers in August, the companies received regulatory approval between November 4 and 8. Shares of the companies would be listed on the BSE and the National Stock Exchange (NSE).
Inventurus Knowledge Solutions
Mumbai-based Inventurus Knowledge Solutions' IPO comprises an offer for sale (OFS) of up to 2.82 crore equity shares, each having a face value of Re 1, by promoters and individual shareholders, with no fresh issue component.
The healthcare services provider would not receive any proceeds from the IPO and the entire fund will go to shareholders, since the issue is entirely an offer for sale. The promoters collectively possess 10.74 crore shares, which make up about 62.6% of the company's issued, subscribed, and paid-up equity share capital, as per the draft red herring prospectus (DRHP).
The Mumbai-based firm is a technology-enabled healthcare solutions provider and a care enablement platform assisting enterprises in the US, Canada and Australia, with a focus on the US markets.
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