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Wastewater treatment solution provider SFC Environmental Technologies Ltd on Wednesday announced that its Rs 668 crore initial public offering (IPO) will open for subscription on October 27. It has fixed a price band of Rs 313-330 per share for the public issue, valuing the company at around Rs 3,233 crore at the top end of the price band. The IPO comprises a fresh issue of equity shares worth Rs 150 crore and an offer-for-sale (OFS) of up to 1.57 crore shares by promoters and existing shareholders, according to a public announcement. Proceeds from the fresh issue will be used for debt repayment and working capital requirements. The public issue will close on October 29 and anchor investor bidding will take place on October 26. The company's equity shares are proposed to be listed on BSE and NSE on November 3. Incorporated in 2005, the Mumbai-based company provides wastewater treatment solutions using proprietary technologies, including C-Tech, an advanced technology for treating
Jio Platforms has replaced Kiran Thomas as chief executive officer with Pankaj Pawar ahead of its planned initial public offering, according to the company's draft IPO papers. The draft papers, submitted to capital markets regulator Sebi in June, mentioned that Thomas resigned as CEO on March 23, with Pawar taking charge the following day, March 24. Pawar, 53, also serves as managing director of Reliance Jio Infocomm Ltd. "Pankaj Mohan Pawar, aged 53 years, is the Chief Executive Officer of the Company and also serves as the managing director of Reliance Jio Infocomm Limited. He has been associated with the Reliance Group since 2000, and has close to three decades of experience in building and scaling large consumer and digital services businesses," the draft IPO papers said. Thomas, who previously served as president of Reliance Industries, does not feature among Jio Platforms' key managerial personnel in the draft prospectus, even though he has been visible in each presentation o