New Delhi Centre for Sight gets Sebi nod for IPO

New Delhi Centre for Sight has received capital markets regulator Sebi's approval to raise funds through an initial public offering (IPO).
The company, which had filed its draft red herring prospectus (DRHP) with Sebi on November 30 for launching the IPO, obtained clearance from the regulator on February 1, according to the latest update.
The IPO comprises fresh issue of shares worth Rs 115 crore and an offer for sale of up to 25.47 lakh equity shares by existing shareholders.
The proceeds of the issue would be used for construction of a super-speciality eye care centre in Dwarka, establishment of six new eye care centres, payment of certain loans and for other general corporate purpose.

Also, the funds would be utilised towards purchase of shares from other shareholders of CFS Netralaya, NVLC Hyderabad, NVLC Rajkot and Shree Hi-Tech.
Further, the company plans to sell up to 10.91 lakh shares of total value of Rs 60 crore with certain investors ahead of the IPO.
The issue is being managed by ICICI Securities and Axis Capital.
So far in 2016, only one firm, Precision Camshafts, has launched its public issue, while maiden public offering of Quick Heal Technologies is underway.