SEBI Nod Fuels IPO Surge: Akums Drugs, Gold Plus Glass, Ceigall India, and Orient Technologies Set for Market Debut

Akums Drugs and Pharmaceuticals, Gold Plus Glass Industry, Ceigall India, and Orient Technologies have received SEBI's approval to raise funds through IPOs. Akums aims to raise Rs 680 crore, while Gold Plus, Ceigall, and Orient target multiple crore rupees in their respective offerings. All companies will list shares on BSE and NSE.

Akums Drugs and Pharmaceuticals received SEBI approval on Monday to raise funds via an initial public offering (IPO), with draft papers showing potential gains of Rs 680 crore through a mix of fresh equity shares and an offer-for-sale (OFS) from promoters and existing investors.

Additionally, Gold Plus Glass Industry Ltd, Ceigall India, and Orient Technologies also obtained the green light from the regulator. The approvals for these companies were granted between June 29 and July 2, 2024, after filing their preliminary IPO papers in February.

Established in 2004, Akums is a leading CDMO providing comprehensive pharmaceutical products and services globally. The IPO aims to repay debt, fund working capital, pursue inorganic growth, and cover general corporate expenses.

Gold Plus Glass Industry, a key player in India's float glass market with a 22% manufacturing capacity share, aims to raise up to Rs 500 crore. Ceigall India's IPO combines a fresh issue of Rs 617.69 crore and an OFS of 1.43 crore equity shares, primarily reserved for eligible employees. Orient Technologies seeks to generate Rs 120 crore through fresh equity and an OFS of 46 lakh shares by promoters.

Shares of these companies will be listed on BSE and NSE, marking significant developments in the market.

(With inputs from agencies.)