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Microfinance institution Arohan Financial Services has filed preliminary papers with market regulator Sebi to raise funds through an initial public offering (IPO), comprising a fresh issue of shares worth Rs 600 crore. Apart from the fresh issue, there will be an offer for sale (OFS) of4.04 crore shares by existing investors, according to the draft red herring prospectus (DRHP) filed with Sebi. US Teachers Insurance and Annuity Association, a retirement financial services firm, Michael & Susan Dell Foundation,Aavishkaar Goodwell India Microfinance Development Company-II Ltd,Tano Capital, TR Capital III Mauritius, and Danish Sustainable Development Goals Investment Fund,among other existing investors, will offload shares. Proceeds from the fresh issue will be used to boost the company's capital base and for general corporate purposes, the draft papers filed last week showed. Earlier in January, Arohan Financial Services Managing Director Manoj Kumar Nambiar stated that the company .
Neolite ZKW Lightings, SS Retail and Aspri Spirits have secured Sebi's approval to raise over Rs 1,200 crore collectively through initial public offerings (IPOs), an update with the regulator showed on Friday. The three companies, which filed their preliminary IPO papers in December, obtained Sebi's observations during May 6-14. In Sebi's parlance, obtaining observations is equivalent to securing approval to float public offering. Automotive lighting products maker Neolite is aiming to raise Rs 600 crore through its maiden public offering, comprising a fresh issue of shares aggregating up to Rs 400 crore along with an offer for sale (OFS) of shares valued Rs 200 crore by promoters and a shareholder, according to the draft red herring prospectus (DRHP). The company will use proceeds from the fresh issue for setting up a new manufacturing facility at Kancheepuram, Tamil Nadu; purchasing plant and machinery, electronic expansion at existing manufacturing facilities; payment of debt an
Corporate governance advisory firm InGovern Research Services has urged the RBI to issue a clear directive to Tata Sons to initiate the listing process as an upper-layer NBFC by the March 2027 deadline, in accordance with its latest master directions. In a report, InGovern said the regulatory landscape has shifted significantly, and there is no remaining legal basis to provide an exemption from public listing to an entity of the magnitude of Tata Sons, a holding company controlling about Rs 1.75 lakh crore in assets. It also requested the RBI to issue a definitive public order rejecting Tata Sons' application for de-registration as a core investment company that was filed to avoid a public listing. Tata Sons' application filed in March 2024 to surrender its Certificate of Registration (CoR) as a Systemically Important Core Investment Company (CIC-ND-SI) is pending, InGovern said, adding that "this application has now been rendered substantively and procedurally deficient by the ...
Quick commerce unicorn Zepto is set to pre-file its draft red herring prospectus (DRHP) with market regulator Sebi on Friday through a confidential route, as it targets a stock market listing sometime next year, according to sources. The move positions Zepto to become one of the youngest startups to list on Indian stock exchanges. If the listing goes through, Zepto will join its rivals Zomato and Swiggy, both of which are already listed on the exchanges. "Zepto is set to pre-file its draft red herring prospectus (DRHP) with Sebi on December 26," people familiar with the developments told PTI. Eternal, which owns Zomato and quick commerce platform Blinkit, was listed in 2021, while Swiggy, which operates Instamart, made its stock market debut in November 2024. The confidential pre-filing allows the company to engage with the Securities and Exchange Board of India (Sebi) for initial feedback on its draft document without it being publicly disclosed. This route has been increasingly
US-based IT major Cognizant, which has a substantial number of employees in India, is actively exploring the possibility of a primary offering and a secondary listing in India, a top company official said. A primary offering typically involves raising new capital by issuing new shares, thereby increasing the company's share capital, whereas a secondary listing involves selling already issued shares in a new market. The potential secondary listing would enable NASDAQ-listed Cognizant to offer its shares on Indian stock exchanges, increasing its visibility among Indian investors and potentially enhancing market liquidity. Cognizant's board and management team regularly assess opportunities to enhance shareholder value. Towards this end, we have been assessing a potential primary offering and a secondary listing in India with our legal and financial advisors. "As part of this comprehensive review, which is still in its early phase, we are engaging various stakeholders from both India
Fertility services provider Indira IVF Hospital Ltd has confidentially filed draft papers with markets regulator Sebi to raise funds through an initial public offering (IPO), according to a public announcement on Wednesday. The development comes amidst growing investor interest in the Indian assisted reproductive technology (ART) sector, buoyed by increasing awareness, expanding market size, and favourable demographics. In a public announcement, Indira IVF stated that it has submitted "the pre-filed draft red herring prospectus with Sebi and the stock exchanges... in relation to the proposed initial public offering of its equity shares on the main board of the stock exchanges." The confidential pre-filing route allows the company to withhold public disclosure of details under the draft red herring prospectus (DRHP). Further, pre-filing DRHP does not guarantee the company will go ahead with the initial public offering (IPO). Meanwhile, market sources said Gaudium IVF and Women Healt