By Admin 
Upcoming IPOs: There is big news for investors earning money through IPO in the stock market. Actually, market regulator SEBI has given approval to three companies Bonbloc Technologies, Eastman Auto and Power and Milestone Gears to raise funds through IPO. This approval from SEBI has come at a time when despite huge fluctuations in the stock market, there is a continuous pipeline of companies thinking of entering the public market.
Bonbloc Technologies
Bonblock Technologies aims to raise Rs 233 crore for the IPO. This will also include new shares worth Rs 160 crore and offer-for-sale (OFS) of 71.86 lakh shares to existing shareholders. This global IT firm wants to list its shares on NSE and BSE. Kfin Technologies has been appointed the registrar of the issue. The IPO structure suggests that the company will raise primary capital through a fresh issue, while existing shareholders will also monetize their holdings through OFS.
Eastman Auto and Power
Energy-transition and power electronics company Eastman Auto & Power also got approval from SEBI to launch an IPO on March 5. The size of IPO can be between Rs 1800-2000 crore. In this too, along with the issuance of new shares, existing shareholders will sell their stake under the Offer-for-Sale (OFS) window. Its shares will also be listed on NSE and BSE.
The company is part of the JRS Eastman Group and operates in battery storage, solar technology and power electronics solutions. Its lead managers are Axis Capital, JM Financial and Motilal Oswal.
Milestone Gears
Milestone Gears is thinking of raising about Rs 1100 crore through its public offering. The issue will include a fresh issue of Rs 800 crore and an offer-for-sale of Rs 300 crore by the promoters. The company will use the funds raised from the IPO to repay old debt, set up a new manufacturing plant in Solan district of Himachal and for general corporate purposes.
Milestone Gears is an engineering company that manufactures components such as bull gears, rear axles, spindles, internal ring gears and bevel gears for tractors, construction equipment, electric vehicles, locomotives and windmills. Its customers include many big names like M&M, Caterpillar, JCB, John Deere.
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)
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