By Admin 
Upcoming IPOs: In the coming time, more and more powerful IPOs are going to hit the stock market. This can be a great earning opportunity for investors. Meanwhile, SEBI has also given green signal to eight companies.
According to data from market regulator SEBI, eight companies including RKCPL Limited, Chartered Speed, Glass Wall Systems (India) Limited and Jerai Fitness have received SEBI’s approval to raise funds through Initial Public Offering (IPO). Other companies that have received regulator’s approval include Shriram Food Industries, Vadodara-based Tempens Instruments (India) Ltd, Indira IVF and Rays of Belief Ltd.
All these eight companies had submitted initial papers for IPO between July and October. They received regulatory approval (observation) between 26 December and 2 January. In SEBI language, getting observation is equivalent to getting regulatory approval to proceed with the public issue. Fertility service providers Indira IVF and Rays of Belief Limited had filed their draft papers confidentially with SEBI during July-August.
RKCPL Limited’s IPO worth Rs 1250 crore
RKCPL Limited, a company related to construction and infrastructure sector, plans to raise Rs 1250 crore through IPO. In this, it has been said that Rs 550 crore will be raised through fresh issue of Rs 700 crore and offer-for-sale. The money raised through IPO will be used to strengthen the operations and balance sheet of the company. According to its draft papers, of the Rs 700 crore fresh issue, about Rs 200 crore has been earmarked to meet working capital needs, while Rs 130.02 crore will be used to purchase construction equipment.
Game of crores in stock market
Similarly, passenger mobility firm Chartered Speed Limited is coming up with a proposed IPO of Rs 855 crore, Mumbai-based Glass Wall Systems (India) Limited is coming up with an IPO of Rs 60 crore. Maharashtra’s rice exporting company Shriram Food Industry will issue 2.12 crore fresh issue and sell 52 lakh shares through OFS. The company will use the funds raised from the IPO to repay debt of Rs 70 crore and for general corporate purposes.
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