weather_iconAshburn | 9.88 °C | AQI 19
Friday, 11 October, 2024

---Advertisement---

Business

Sebi Approves 5 More IPOs; Vishal Mega Mart, Swiggy, Hyundai And More | All Details

Big companies like Vishal Mega Mart, Hyundai MotorIndia Ltd, Swiggy have recently got capital market regulator Sebi's go ahead  to raise funds through respective Initial Public Offers (IPOs).

Photo Credit: Getty Images

New Delhi: Big companies like Vishal Mega Mart, Hyundai MotorIndia Ltd, Swiggy have recently got capital market regulator Sebi’s go ahead  to raise funds through respective Initial Public Offers (IPOs). While, renewable energy firm ACME Solar Holdings and packaging equipment manufacturer Mamata Machinery also secured the market watchdog’s license to roll out respective public issues.

Hyundai MotorIndia IPO

---Advertisement---

Hyundai MotorIndia Ltd, the Indian arm of South Korean automaker Hyundai had received Sebi’s nod on September 24, 2024  to float its IPO. The South Korean automaker is looking to raise Rs 25,000 crore through the stake sale process which is going to be biggest IPO in India’s history.

Swiggy IPO

---Advertisement---

Food and grocery delivery major Swiggy  has been pegged the IPO size at over Rs 10,000 crore. It too had got Sebi’s nod on September 24.

Going by Sebi’s update on Monday, Mega Mart took the confidential filing route to submit its draft papers in July with the markets regulator, keeping details undisclosed for the time being. It obtained the regulator’s observations on September 25.

ACME Solar Holdings IPO

According to its Draft Red Herring Prospectus (DRHP) as filed by Sebi, the Gurugram-based ACME Solar Holdings  Holdings’ proposed IPO is a combination of a fresh issue of equities worth Rs 2,000 crore and an OFS of shares worth Rs 1,000 crore. The firm intends to use proceeds for debt payment and  general corporate purposes.

Mamata Machinery IPO

Gujarat-based Mamata Machinery’s initial share sale is entirely an OFS. Promoters will sale stake worth 73.82 lakh number of equity shares. As it is 100% OFS, the proceeds will not be utilized for company’s operational efficiency. Promoters will take home the entire cash raised. Some of them are Mahendra Patel, Nayana Patel, Bhagvati Patel, Mamata Group Corporate Services LLP, and Mamata Management Services LLP.

India’s Booming IPO Market

India’s IPO market is thriving. This year has already seen 29% increment in number of companies bringing their IPOs to 62 from 57 in the entire 2023. Some of the big IPOs that hit the Dalal Street this year subsume , Ola Electric Mobility, Bajaj Housing Finance,  FirstCry’s parent Brainbees Solutions, etc.

Also Read: More Than 70% Amazon Employees Express Desire To Quit If This Happens

HISTORY

Written By

Kanishka Birat


Get Breaking News First and Latest Updates from India and around the world on News24. Follow News24 on Facebook, Twitter.

IPO
Related Story

Live News

---Advertisement---


live

Ratan Tata Death News LIVE Updates: Nation Bids Adieu, Ratan Tata Cremated With Full State Honors

Oct 10, 2024
Remembering-Ratan-Tata
  • 19:43 (IST) 10 Oct 2024

    US Consul General Reflects On Ratan Tata’s Global Impact

  • 19:40 (IST) 10 Oct 2024

    CII President Pays Tribute To Ratan Tata's Legacy

  • 19:28 (IST) 10 Oct 2024

    Simone Tata Bids Farewell To Ratan Tata

N24 Shorts Logo

SHORTS

Star Candidates in the assembly election results 2024
India

LIVE Haryana, J&K Election Results 2024: Will Star Candidates Bloom Or Gloom? Ravinder Raina Lost Nowshera, Anil Vij Wins Ambala Cantt

Star candidates who otherwise kept grabbing eyeballs have put their fate to the test in the democratic dangal and the decision is to be declared soon in the assembly election results.

View All Shorts

---Advertisement---

Trending