Four Firms Set to Shine with Upcoming IPOs
Four companies, including Kent RO Systems and Karamtara Engineering, have received Sebi approval to launch IPOs, collectively raising Rs 2,500 crore. Mangal Electrical Industries and Vidya Wires also plan public offerings. Each company aims to utilize proceeds for debt payments, corporate purposes, or expansion, listing shares on BSE and NSE.
- Country:
- India
In a significant development within the financial markets, four companies have received authorization from the Securities and Exchange Board of India (Sebi) to proceed with their Initial Public Offerings (IPOs). These firms include Kent RO Systems, Karamtara Engineering, Mangal Electrical Industries, and Vidya Wires, collectively aiming to raise Rs 2,500 crore.
Kent RO Systems' offering is entirely an offer for sale, where shares are sold by the promoters, resulting in no capital inflow for the company itself. In contrast, Karamtara Engineering's IPO will be a mix of new share issuance worth Rs 1,350 crore and promoter sold shares worth Rs 400 crore, with a significant portion allocated to debt repayment.
Both Mangal Electrical Industries and Vidya Wires are focusing on fresh issues, with their proceeds directed towards infrastructure expansion and debt settlement. This strategic capital influx highlights a trend of leveraging public listings to fuel growth and operational efficiency.
(With inputs from agencies.)
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