The Rs 997.78-crore IPO comprises fresh issue of equity shares worth Rs 800 crore and an offer for sale (OFS) of Rs 197.78 crore by existing selling shareholders, the draft red herring prospectus (DRHP) filed with Sebi showed.
Fe Bureau & PTI
As many as seven companies, including ESAF Small Finance Bank (SFB) , Sapphire Foods India and Anand Rathi Wealth, have received capital markets regulator Sebi’s nod to raise over Rs 28,000 crore through initial public offerings (IPOs).
ESAF SFB on Monday received the approval from Sebi to go ahead with its initial public offering (IPO). The lender had filed its draft papers in July. The Rs 997.78-crore IPO comprises fresh issue of equity shares worth Rs 800 crore and an offer for sale (OFS) of Rs 197.78 crore by existing selling shareholders, the draft red herring prospectus (DRHP) filed with Sebi showed.
Under the OFS, the promoter will be selling shares worth Rs 150 crore, PNB MetLife would be offloading shares worth Rs 21.33 crore, Bajaj Allianz Life will offer shares of Rs 17.46 crore, PI Ventures will sell Rs 8.73 crore worth of shares and John Chakola will offer shares worth Rs 26 lakh. The net proceeds from the fresh issue will be used to augment the bank’s Tier-1 capital to meet future capital requirements.
In addition, PB Fintech, which operates an online insurance platform Policybazaar and credit comparison portal Paisabazaar, Paytm’s parent firm One97 Communications, life sciences company Tarsons Products and HP Adhesives also received Sebi’s clearance to float their IPOs. These companies, which filed their draft papers with Sebi between July and August, obtained the regulator’s observations during October 18-22, an update with Sebi showed on Monday. In Sebi’s parlance, the issuance of observation is equivalent to its approval. Together, these seven companies are planning to raise over Rs 28,000 crore through initial share sales, market sources said. Shares of the companies will be listed on the BSE and the NSE.
The development came after Sebi gave the signal to the IPO of six companies, including FSN E-Commerce Ventures, which runs an online marketplace for beauty and wellness products Nykaa and Adani Wilmar during October 11-14.
Sapphire Foods India, which operates KFC and Pizza Hut outlets, plans to raise Rs 1,500-2,000 crore through its IPO, market sources said. As per the draft papers, the company’s public issue will be entirely an OFS of 17,569,941 equity shares by promoters and existing shareholders.
As a part of the OFS, QSR Management Trust will sell 8.50 lakh shares, Sapphire Foods Mauritius will offload 55.69 lakh shares, WWD Ruby will divest 48.46 lakh shares and Amethyst will offer 39.62 lakh shares.
In addition, AAJV Investment Trust will sell 80,169 shares, Edelweiss Crossover Opportunities Fund will offload 16.15 lakh shares, and Edelweiss Crossover Opportunities Fund-Series II will divest 6.46 lakh shares.
Anand Rathi Wealth, part of Mumbai-based financial services group Anand Rathi, is looking to raise Rs 1,000 crore through its IPO, market sources said. As per the draft papers, the initial share sale is entirely an offer for sale of 1.2 crore equity shares by promoters and existing shareholders.
Those offering shares for sale are Anand Rathi Financial Services Limited, Anand Rathi, Pradeep Gupta, Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Family Trust, Jugal Mantri and Feroze Azeez.
Paytm plans to raise Rs 8,300 crore through fresh issue of equity shares and another Rs 8,300 crore through the offer-for-sale route. Paytm founder, MD and CEO Vijay Shekhar Sharma and Alibaba group firms will dilute some of their stake in the proposed offer-for-sale.