Mumbai : Six firms, which filed draft papers, have received approval from the Securities and Exchange Board of India (SEBI) to raise funds through initial public offerings (IPOs).
These six companies are: FSN E-Commerce Ventures, Adani Wilmar, Star Health and Allied Insurance Company, Sigachi Industries, Latent View Analytics and Penna Cement Industries.
FSN E-commerce Ventures, owner of Nykaa Brands, raises a new issue in IPO ₹525 crore and offer for sale of 43.11 million shares by its existing shareholders and promoters.
Nykaa was founded in 2012 by investment banker Falguni Nair and is currently a leading player in the online beauty aggregator segment.
The firm is a digitally native consumer technology platform, which provides consumers with a content-based, lifestyle retail experience. It has a diverse portfolio of beauty, personal care and fashion products including its own brand products.
Adani Wilmar plans to mobilize ₹4,500 crore through fresh issuance of equity. The manufacturer of the best-selling edible oil brand “Fortune” is a joint venture between Adani Enterprises and Asian agribusiness Wilmar International.
Adani Wilmar has the largest range of edible oils including soybean, sunflower, mustard and rice bran among others. Its Fortune brand of oil has a market share of about 20% in India.
Star Health and Allied Insurance, owned by a consortium of investors including Rakesh Jhunjhunwala and Westbridge Capital, includes a new issue in the IPO ₹2,000 crore and offer for sale of 60.10 million shares.
Star Health is the largest private health insurer in India with a market share of 15.8% in the Indian health insurance market in FY 2021. Its total Gross Written Premium (GWP) as of FY 2021 was Rs. ₹93.49 billion.
Hyderabad-based Sigachi Industries IPO is the latest issue of up to 2.84 million shares. The company is engaged in the manufacturing of Microcrystalline Cellulose (MCC) which is widely used in the pharmaceutical industry as an adjuvant for finished supplements.
Latent View Analytics Ltd., a global digital analytics firm, includes a new issue of IPO ₹474 crore and offer for sale ₹126 crores.
The firm designs and engineers results-oriented analytics solutions for its clients that enable them to operate more efficiently by predicting results that drive digital transformation and sustainability. Its expertise in business analysis includes analysis in relation to customer profiling, targeted marketing, supply chain management, finance and risk management, and human resource functions.
A fresh issue in the IPO of Penna Cement Industries includes: ₹Offer for sale up to Rs 1,300 crore and above ₹250 crore by its promoter PR Cement Holdings Ltd. Presently, PR Cement Holdings holds 33.41% stake in the company.
Penna Cement is one of the largest privately held cement companies in India and a leading integrated cement player in terms of cement production capacity.
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