The Securities and Exchange Board of India (SEBI) has approved the IPO plans of six companies: iValue Infosolutions, Ather Energy, Oswal Pumps, Quality Power Electrical Equipments, Fabtech Technologies, and Schloss Bangalore. Here’s a breakdown of their key IPO details.
1. iValue Infosolutions IPO
- Headquarters: Bengaluru.
- Industry: Technology solutions.
- IPO Type: 100% Offer for Sale (OFS).
- Shares for Sale: 1.87 crore equity shares.
- Promoter Holding:
- 38.67% held by promoters.
- 61.33% held by public investors, including Sundara (Mauritius).
- Purpose: To allow existing shareholders to exit.
- Approval Date: December 23, 2024.
2. Ather Energy IPO
- Headquarters: Bengaluru.
- Industry: Electric two-wheelers.
- IPO Size: Approx. ₹4,500 crore.
- Fresh Issue: ₹3,100 crore.
- OFS: 2.2 crore equity shares by promoters and investors.
- Use of Funds:
- Setting up an electric vehicle manufacturing plant in Maharashtra.
- Debt repayment.
- Key Investors Selling Shares:
- Promoters: Tarun Mehta and Swapnil Jain.
- Investors: Caladium Investment, National Investment and Infrastructure Fund, and others.
- Approval Date: December 23, 2024.
3. Oswal Pumps IPO
- Headquarters: Haryana.
- Industry: Solar and grid-connected pumps.
- IPO Size:
- Fresh Issue: ₹1,000 crore.
- OFS: 1.13 crore equity shares by promoter Vivek Gupta.
- Use of Funds:
- Establishing new manufacturing facilities in Karnal, Haryana.
- Debt reduction.
- General corporate purposes.
- Approval Date: December 24, 2024.
4. Quality Power Electrical Equipments IPO
- Headquarters: Chennai.
- Industry: High-voltage electrical equipment.
- Ownership: 100% held by the Pandian family.
- IPO Size:
- Fresh Issue: ₹225 crore.
- OFS: 1.2 crore equity shares by promoter Chitra Pandian.
- Purpose:
- Address working capital requirements.
- General corporate growth.
- Approval Date: December 27, 2024.
5. Fabtech Technologies IPO
- Industry: Pharmaceutical and healthcare turnkey solutions.
- IPO Size:
- Fresh Issue: 1.20 crore equity shares.
- Pre-IPO Funding: May raise up to ₹10 crore before filing Red Herring Prospectus.
- Use of Funds:
- Expanding working capital.
- Funding acquisitions for inorganic growth.
- General corporate objectives.
- Approval Date: December 27, 2024.
6. Schloss Bangalore IPO
- Industry: Luxury hospitality under The Leela brand.
- IPO Size: ₹5,000 crore.
- Fresh Issue: ₹3,000 crore.
- OFS: ₹2,000 crore.
- Use of Funds:
- ₹2,700 crore for debt repayment.
- Remaining funds for corporate purposes.
- Competition: Indian Hotels, Chalet Hotels, EIH.
- Approval Date: December 26, 2024.
Summary Table
| Company | Industry | IPO Size (₹ Cr) | Fresh Issue (₹ Cr) | OFS (Shares) | Purpose |
|---|---|---|---|---|---|
| iValue Infosolutions | Tech solutions | N/A | None | 1.87 crore shares | Shareholder liquidation. |
| Ather Energy | Electric vehicles | ~4,500 | 3,100 | 2.2 crore shares | Factory setup, debt reduction. |
| Oswal Pumps | Solar & grid pumps | ~1,000 | 1,000 | 1.13 crore shares | Manufacturing expansion, debt repayment. |
| Quality Power Electrical | Electrical equipment | ~225 | 225 | 1.2 crore shares | Working capital, corporate growth. |
| Fabtech Technologies | Pharma & healthcare | N/A | 1.20 crore shares | None | Capital needs, acquisitions. |
| Schloss Bangalore | Luxury hospitality | ~5,000 | 3,000 | ₹2,000 crore shares | Debt repayment, promoter proceeds. |
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