Four companies get Sebi’s nod to launch IPOs

Four companies get Sebi’s nod to launch IPOs

POSTED BY NILESH WAGHELA 

Mumbai: Entero Healthcare Solutions, JNK India, Exicom Tele-Systems and Akme Fintrade (India) have received markets regulator Sebi’s approval to raise funds through initial public offerings.However, the Securities and Exchange Board of India has returned the IPO papers of Stallion India Fluorochemicals.As per the processing status of draft offer documents till January 19, the watchdog has approved the initial public offering (IPO) of the four companies.

These four firms, which had filed their preliminary papers with the markets watchdog between June and October, obtained observation letters on January 16-19, an update with the Securities and Exchange Board of India (Sebi) showed on Thursday.In Sebi’s parlance, obtaining observation letters means its go-ahead to launch an IPO.Going by the draft papers of Entero Healthcare Solutions, the IPO comprises a fresh issue of equity shares worth up to Rs 1,000 crore and an Offer For Sale (OFS) component of up to 85.57 lakh equity shares.

The public issue of JNK India consists of a fresh issue of equity shares worth up to Rs 300 crore and an OFS of up to 84.21 lakh equity shares. The Udaipur-based Akme Fintrade (India) Ltd’s initial share sale comprises fresh issuance of 1.1 crore equity shares with no offer for sale (OFS) component.

The IPO of Exicom Tele-Systems Ltd comprises a fresh issue of equity shares aggregating up to Rs 400 crore and an offer-for-sale component of up to 74 lakh equity shares. The equity shares of these four companies are proposed to be listed on bourses –BSE and NSE.