SEBI Green Lights Upcoming IPOs: Entero Healthcare Solutions, JNK India, Exicom Tele-Systems, and Akme Fintrade Ready to Make Market Debut
In a significant development, the Securities and Exchange Board of India (SEBI) has provided the green light to four companies Entero Healthcare Solutions, JNK India, Exicom Tele-Systems, and Akme Fintrade (India) to proceed with their initial public offerings (IPOs). This regulatory approval positions these companies to raise funds through their stock market debuts, marking a crucial step in their corporate journey.
However, in a contrasting move, SEBI has returned the IPO papers of Stallion India Fluorochemicals, signaling a dynamic regulatory landscape for companies seeking to enter the public market.
The approval from SEBI follows the companies’ filing of preliminary papers between June and October. These observation letters, indicative of regulatory clearance, pave the way for the IPO launches, subject to market conditions.
Entero Healthcare Solutions IPO
Entero Healthcare Solutions, founded in 2018 by Prabhat Agarwal and Prem Sethi, is gearing up for an IPO that comprises a fresh issue of equity shares worth up to Rs 1,000 crore. Additionally, an Offer For Sale (OFS) component of up to 85.57 lakh equity shares is part of the offering. The OFS includes shares from prominent stakeholders such as promoters Prabhat Agrawal, Prem Sethi, and OrbiMed Asia III Mauritius Ltd, along with other shareholders like Chethan MP, Deepesh T Gala, Hemant Jose Barros, and more.
JNK India IPO
JNK India’s IPO structure consists of a fresh issue of equity shares, aiming to raise funds up to Rs 300 crore. The offering also includes an Offer For Sale (OFS) of up to 84.21 lakh equity shares. Promoters Goutam Rampelli, Dipak Kacharulal Bharuka, JNK Heaters Co Ltd, Mascot Capital and Marketing Pvt Ltd, and shareholder Milind Joshi will participate in the OFS.
Akme Fintrade (India) Ltd
Akme Fintrade (India) Ltd, based in Udaipur, is set to make its initial share sale, comprising a fresh issuance of 1.1 crore equity shares. Unlike the previous IPOs, there is no Offer For Sale (OFS) component. The proceeds generated from the IPO are earmarked for augmenting the capital base of the company, supporting its growth trajectory.
Exicom Tele-Systems Ltd’s IPO
Exicom Tele-Systems Ltd’s IPO involves a fresh issue of equity shares aggregating up to Rs 400 crore, coupled with an offer-for-sale component of up to 74 lakh equity shares by promoter NextWave Communications. Currently, NextWave Communications holds a 71.45 percent stake in the company. The funds raised from the fresh issue will be strategically utilized for setting up production lines, investment in research & development, product development, and the repayment of debt to support working capital requirements and general corporate purposes.
As these four companies gear up for their IPOs, the equity shares are proposed to be listed on major stock exchanges, including the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). Investors are closely monitoring these developments, anticipating new investment opportunities in the dynamic Indian capital market.