The IPO lane is getting increasingly crowded as companies have lined up offers worth over Rs 15,000 crore in the current fiscal to fund their business expansion, meet working capital requirements and make loan repayments. Of late, Thyrocare Technologies announced that it will hit the capital markets on April 27 to raise funds through the an initial public offering (IPO). The IPO is scheduled to close on April 29, as per the Red Herring Prospectus (RHP).
Below are 5 companies whose Draft Red Herring Prospectus have been approved by Sebi in the recent past.
Ujjivan Financial Services: The company started its operations as an NBFC in 2005 with the mission of providing a full range of financial services to the economically active poor who are not adequately served by financial institutions. Ujjivan’s business is primarily based on the joint liability group lending model for providing collateral free, small ticket-size loans to economically active women. The company also offers individual loans to Micro & Small Enterprises (‘MSEs’). On October 7, 2015, Ujjivan Financial Services was one among 10 companies in India, out of a total of 72 applicants, to receive in-principle approval from the RBI to set up a small finance bank (“SFB”).
Matrimony.com: The business of Matrimony.com comprises three segments – matchmaking services, marriage services and related sale of products and other services, which include mobile-only relationship app, “Matchify”. According to the Online Matchmaking Report, there were approximately 93 million unmarried individuals in India within the marriageable age bracket in 2014, being 18 to 35 years for females and 21 to 35 years for males. It is estimated that approximately 71 million marriages will take place in India from 2015 to 2020.
VLCC Health Care: Founded by Vandana Luthra as a beauty and slimming services center in 1989, VLCC was incorporated in 1996. The company markets 169 skin care, hair care, body care, functional foods and fortified foods products. It manufactures 158 of these products at its GMP-certified manufacturing plant in India. Revenue from personal care products business, which is complementary to VLCC beauty and wellness services business, has grown by 2.63 times in the four years from the financial year 2011 to 2015, contributing Rs 2,52.37 crore or 31.11 per cent to consolidated revenue from operations in 2014-15.
GVR Infra Projects: The company is engaged in the construction contract business of providing EPC services across various infrastructure sectors, and the development and management of road assets. GVR Infra provides EPC services in road, irrigation, railways, bridges and civil construction sector. It was incorporated on June 28, 2001.
Nihilent Technologies: Nihilent is a global business consulting and IT services solutions integration company. As on November 30, 2015, the company had more than 1,500 employees across 18 offices located in India, South Africa, Nigeria, Tanzania, United States, United Kingdom, Ireland and Australia.