SEBI Gives Approves the DRHP for 10 IPOs

With the calendar year 2021 coming to an end in another month, the regulator has been working overtime clearing the backlog of IPO draft red herring prospectus filed with SEBI.

On 29th November, SEBI announced that it had approved the DRHPs of 10 companies and given comments. The next step will be for these 10 companies to initiate the IPO process including the filing of the Red Herring Prospectus with the Registrars of companies.
 

A gist of the 10 companies where IPO DRHP approved by SEBI

These ten IPOs are now ready to take their IPO story forward.

1. Data Patterns India Ltd.

Data Patterns is a key supplier of value added inputs to the defence and aerospace industry. The IPO will comprise of a fresh issue of Rs.300 crore while another 60.7 lakh shares will be offered by way of offer for sale (OFS). Data Patterns is backed by Matthew Cyriac, who formerly headed Blackstone India office.

2. Electronics Mart India Ltd.

Electronics Mart is a consumer electronics retail chain based out of Hyderabad. It had filed DRHP with SEBI to raise Rs.500 crore via fresh issue of shares, which will be used to fund its capital expenditure and also for working capital needs.

ENIL has over 6,000 stock keeping units (SKUs) with a focus on large appliances like refrigerators, ACs, washing machines etc.

3. Gemini Edibles & Fats India Ltd.

The IPO of Gemini Edibles will be a pure offer for sale (OFS) worth Rs.2,500 crore. Gemini is a food and FMCG products company with a market leadership in the sunflower oil segment.

There will be no fresh funds coming into the company and the IPO is purely intended to list the stock and give and exit option to early investors and partial exit to promoters.

4. India-1 Payments Ltd.

The IPO of India-1 Payments Ltd consists of a fresh issue of Rs.150 crore and an offer for sale (OFS) of 1.031 crore shares by promoters and early investors.

India-1 Payments is India’s largest independent non-bank ATM operator with gross transaction value from its ATMs of Rs.43,975 crore in the financial year 2020-21. It will use fresh funds to expand franchise.

5. Healthium Medtech Ltd.

Healthium Medtech is promoted by PE firm Apax Partners. Its IPO comprises of fresh issue of Rs.390 crore and an offer for sale (OFS) of 3.91 crore shares by promoters and early investors.

It is a leading manufacturer of medical consumables and surgical sutures in India and has seen a sharp rise in demand in the post covid scenario.

6. CE Info Systems Ltd.

CE Info Systems runs one of India’s most popular mapping services under the brand name maymyindia.com. Their digital data powers the likes of Apple, Amazon and Alexa in the Indian context. The IPO will be an offer for sale (OFS) of 75.50 lakh shares.

CE Info Systems remains one of the leading providers of geo-spatial software services, advanced digital maps and location based Internet of Things (IOT) services.

7. VLCC Health Care Ltd.

VLCC Health Care IPO will comprise of a fresh issue of Rs.300 crore, which will be used to expand its franchise. It will also offer 89.2 lakh shares by way of offer for sale by promoters and existing early shareholders.

VLCC runs a chain of boutiques that provides health, beauty and fitness solutions. It had postponed its 2016 IPO due to unfavourable market conditions.

8. AGS Transact Technologies Ltd.

AGS Transact Technologies is an omni channel payment solutions provider and supports multiple sources and channels of payments on the digital interface.

It will come out with an offer for sale (OFS) of Rs.800 crore essentially to give an exit to early shareholders and partial exit to promoters as well as to list the stock on the bourses for better visibility.

9. Metro Brands Ltd.

After Nazara Technologies and Star Health & Allied Insurance; Metro Brands will be the third IPO of a company backed by Rakesh Jhunjhunwala. The IPO of Metro Brands will comprise of a fresh issue of Rs.250 crore and an offer for sale of 2.19 crore shares by existing holders.

It is one of the leading footwear retailers with marquee brands and will use the IPO proceeds to expand its retail franchise.

10. Godavari Biorefineries Ltd.

Godavari Biorefineries is one of the leading producers of ethanol in India and a first mover with respect to manufacturing ethanol based chemicals in India. Godavari Biorefineries IPO will comprise of a fresh issue of Rs.370 crore and an offer for sale of 65.6 lakh shares to give exit to promoters and early investors.

It will use the fresh issue component to expand its ethanol capacity in line with growing demand in India.

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