Srei Equipment Finance, Hinduja Leyland Finance among 4 cos to get Sebi's go ahead for IPO

Srei Equipment Finance and Hinduja Leyland Finance are among the four companies that received markets regulator Sebi's approval recently to float initial share sales.

Aavas Financiers and Penver Products are the other two companies to get the Sebi's nod for share sale proposals.

Penver Products received Sebi's observations on September 5, while the remaining three firms got it on September 7, according to the latest update with the markets watchdog.

Srei Equipment Finance had filed its draft papers with Sebi in November last year, seeking its clearance to float an IPO, while other three firms had approached the markets watchdog in June this year.

Sebi's observations are necessary for any company to launch public issues like initial public offer, follow-on public offer (FPO) and right issue.

With this, the number of companies getting Sebi's approval to float an initial public offer (IPO) has reached 48 this year so far.

Going by the draft papers, Srei Equipment Finance's IPO comprises fresh issue of equity shares worth Rs 1,100 crore, besides, Srei Infrastructure Finance will sell up to 43,86,765 shares in an offer for sale.

The IPO of Hinduja Leyland Finance consists of fresh issue of equity shares worth Rs 500 crore and offer for sale of 30,682,475 shares.

The initial share-sale offer of Aavas Financiers consists of a fresh issue of up to Rs 400 crore, besides, an offer for sale of up to 1,62,49,359 equity stocks by the existing shareholders, including Kedaara Capital and Partners Group.

Seafood company Penver's initial share-sale comprises fresh issue of equity shares aggregating up to Rs 242 crore, besides, an offer for sale of up to 41,08,000 equity shares by the promoters.

Shares of these companies will be listed on BSE and NSE.