By Admin 
SEBI Approves IPO: Issues of many new companies can soon be seen in the Indian primary market. The Securities and Exchange Board of India (SEBI) has given approval to 4 companies this week for their public issues. The companies that have received this permission include Premier Industrial Corporation, Virupaksha Organics, Hexagon Nutrition and Duroflex.
Getting SEBI’s observation is considered an important step in the IPO process, because it indicates that the green signal has been received from SEBI and now the company can make further preparations for the Initial Public Offering (IPO). Let us know about them…
Duroflex IPO
Duroflex got the green signal from SEBI on 12th February. Through this public issue, the company is going to launch both fresh issue and offer for sale (OFS) in the stock market.
According to the company, new shares worth up to Rs 184 crore will be issued. At the same time, promoters and existing investors will sell 2.25 crore equity shares through OFS. Duroflex is a well-known mattress company of the country. Along with mattresses, the company also manufactures furniture, pillows, bedding accessories etc.
Virupaksha Organics IPO
Virupaksha Organics will try to raise Rs 740 crore from the market through IPO. All shares will be issued fresh under IPO. That means the stake of promoters or existing investors will not come in the market. The company is related to pharma and research field.
hexagon nutrition ipo
The proposed IPO of Hexagon Nutrition is going to be a complete offer for sale. The company will not raise new capital through this offer, rather the entire issue will be brought in the form of Offer for Sale (OFS).
The company has got the green signal from SEBI on 10 February. Under the OFS, promoters Arun Purushottam Kelkar, Subhash Purushottam Kelkar, Nutan Subhash Kelkar and Aditya Kelkar will together sell a total of 30,859,704 equity shares.
Premier Industrial Corporation IPO
Premier Industrial Corporation has received observation letter from SEBI on 10 February. The company is going to launch both fresh issue and offer for sale (OFS) in the market through this public issue.
2.79 crore equity shares will be floated in the market by the company. In which 2.25 crore shares will be newly issued, while about 54 lakh shares will be offloaded under OFS.
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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