There is important news for investors who want to earn money through IPOs in the stock market. Market regulator Securities
and Exchange Board of India (SEBI) has approved three companies—Bonbloc Technologies, Eastman Auto and Power, and Milestone Gears—to raise funds through initial public offerings (IPOs).
This approval has come at a time when the stock market is facing significant volatility. Despite this, many companies are still planning to enter the public market and raise funds from investors.
Bonbloc Technologies IPO Details
Bonbloc Technologies plans to raise about ₹233 crore through its IPO. The issue will include a fresh issue of shares worth ₹160 crore and an offer-for-sale (OFS) of 71.86 lakh shares by existing shareholders.
The global IT company plans to list its shares on both National Stock Exchange of India (NSE) and BSE Limited (BSE). KFin Technologies has been appointed as the registrar for the IPO.
Through the fresh issue, the company will raise new capital, while the offer-for-sale will allow existing shareholders to sell part of their holdings.
Eastman Auto & Power IPO
Energy transition and power electronics company Eastman Auto & Power also received SEBI approval for its IPO on March 5. The company plans to raise around ₹1,800 crore to ₹2,000 crore through the public issue.
The IPO will include both a fresh issue of shares and an offer-for-sale (OFS) by existing shareholders. The company’s shares will also be listed on the National Stock Exchange of India and BSE Limited.
Eastman Auto & Power is part of the JRS Eastman Group and works in areas such as battery storage, solar technology,
and power electronics solutions. The lead managers for the IPO are Axis Capital, JM Financial, and Motilal Oswal Financial Services.
Milestone Gears IPO Plan
Milestone Gears plans to raise about ₹1,100 crore through its IPO. The public issue will include a fresh issue of ₹800 crore and an offer-for-sale worth ₹300 crore by the promoters.
The company plans to use the money raised from the IPO to repay existing debt, set up a new manufacturing plant in the Solan district of Himachal Pradesh, and for other general corporate purposes.
Milestone Gears is an engineering company that manufactures components such as bull gears, rear axles, spindles, internal ring gears, and bevel gears.
These parts are used in tractors, construction equipment, electric vehicles, locomotives, and windmills. The company supplies its products to major clients such as Mahindra & Mahindra, Caterpillar Inc., JCB, and John Deere.
