Trio of Firms Set to Launch IPOs: A Financial Surge on the Horizon

The Securities and Exchange Board of India (Sebi) has given its approval for three companies to raise funds through initial public offerings (IPOs). The companies involved are GNG Electronics, logistics service provider Glottis, and pharmaceutical firm Amanta Healthcare.

GNG Electronics plans to issue new equity shares worth Rs 450 crore and offer 51 lakh shares for sale by promoters. They may also conduct a pre-IPO round to raise Rs 90 crore, potentially reducing the fresh issue size. Being India's largest Microsoft-authorised refurbisher, GNG Electronics plays a significant role in refurbishing laptops and desktops across various regions.

Glottis will mix their IPO with a fresh issue worth Rs 160 crore and sell 1.45 crore shares via promoters. Proceeds will mainly enhance capital expenditure for commercial vehicles and containers. Lastly, Amanta Healthcare, after a withdrawn attempt, aims for a fresh issuance of 1.25 crore equity shares, focusing on medical devices and sterile liquid products. The companies plan to list on BSE and NSE.

(With inputs from agencies.)