Upcoming IPOs: SEBI gives nod to IPOs of Four Companies

New Delhi:

In a significant development for investors, the Securities and Exchange Board of India (SEBI) has granted approval for Initial Public Offerings (IPOs) of four prominent companies.

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The companies in question are Arkade Developers, CJ Darcl Logistics, Juniper Hotels, and Indo Farm Equipment.

SEBI’s approval marks a crucial step for these firms as they aim to raise funds through public offerings.

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Arkade Developers : Transforming Mumbai’s Real Estate Landscape

Offer Size: Rs 430 Crore

Mumbai-based real estate giant, Arkade Developers, is set to enter the market with an IPO focused on raising Rs 430 crore.

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The company, which submitted its draft papers to SEBI on August 31, 2023, plans to issue only fresh equity shares, with no Offer for Sale (OFS). Arkade Developers may explore a pre-IPO placement of up to Rs 20 crore.

The funds raised will primarily go towards the development of existing and upcoming projects, with Unistone Capital serving as the sole book running lead manager.

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Juniper Hotels: A Luxurious Proposition in the Hospitality Sector

Offer Size: Rs 1800 Crore

Mumbai-based luxury hotel chain Juniper Hotels is eyeing an IPO with an offer size of Rs 1800 crore.

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The company, owned by Saraf and Hyatt, may also consider a pre-IPO placement of up to Rs 350 crore. The majority of the funds, Rs 1,500 crore, will be utilized for loan repayment, addressing outstanding debts as of March 2023.

JM Financial, CLSA India, and ICICI Securities are the appointed merchant bankers for the IPO.

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CJ Darcl Logistics: Revolutionizing the Logistics Landscape

Offer Size: Rs 340 Crore (New Shares) + OFS of 54.31 Lakh Equity Shares

Gurugram-based logistics firm CJ Darcl Logistics aims to raise funds through an IPO with new shares worth Rs 340 crore and an Offer for Sale (OFS) of 54.31 lakh equity shares.

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The company, which filed its draft paper with SEBI on September 27, 2023, may also consider pre-IPO placement of equity shares worth Rs 68 crore.

The funds raised will be directed towards loan repayment and capital expenditure requirements, including the purchase of electric vehicles.

Indo Farm Equipment: Driving Growth in Agricultural Machinery

Offer Size: 1.4 Crore Equity Shares (Fresh Issue + OFS)

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Chandigarh-based Indo Farm Equipment, a manufacturer of tractors and pick and carry cranes, plans to launch an IPO comprising a fresh issue of 1.05 crore equity shares and an Offer for Sale (OFS) of 35 lakh equity shares by promoter Ranbir Singh Khadwalia.

The company is also contemplating a pre-IPO placement of 19 lakh equity shares.

The IPO funds will be utilized to set up a dedicated unit, expand manufacturing capacity, and address loan repayment and future capital needs.

Conclusion

As these companies gear up for their IPOs, investors can anticipate dynamic offerings across diverse sectors.

SEBI’s approval underscores the market’s appetite for new opportunities, presenting investors with a range of choices in the coming months. Stay tuned for further updates on these upcoming IPOs.

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