SK Finance, Belstar Microfinance, and Transrail Lighting Receive Sebi Nod for IPOs

SK Finance, Belstar Microfinance (a microfinance arm of Muthoot Finance), and Transrail Lighting have received approval from Sebi to initiate their Initial Public Offerings (IPOs). The companies plan to utilize the proceeds to augment their capital bases, meet business requirements, and for general corporate purposes.

SK Finance, along with Belstar Microfinance, a subsidiary of Muthoot Finance, and Transrail Lighting, have secured approval from Sebi to launch their Initial Public Offerings (IPOs). According to recent updates from the markets regulator, this approval allows the three firms to proceed with their public issue plans.

Documents reveal that SK Finance's IPO will feature a fresh issue of shares worth Rs 500 crore and an offer-for-sale (OFS) totaling up to Rs 1,700 crore. Prominent investors such as Norwest Venture Partners X-Mauritius and TPG Growth IV SF PTE Ltd are included in the OFS.

Similarly, Belstar Microfinance and Transrail Lighting plan to issue fresh shares valued at Rs 1,000 crore and Rs 450 crore, respectively. The approval marks a significant financial step for these companies, aiming to bolster their capital infrastructure and fund future growth.

(With inputs from agencies.)