Indian Companies Gear Up for IPOs to Raise Capital

Jaro Institute of Technology Management and Research, All Time Plastics Ltd, Scoda Tubes, and Dev Accelerator have filed for IPOs with the SEBI. These offerings aim to raise significant funds for various purposes, including marketing and debt repayment. Shares will be listed on the BSE and NSE.

Four prominent companies, including Jaro Institute of Technology Management and Research, All Time Plastics Ltd, Scoda Tubes, and Dev Accelerator, have submitted preliminary papers to the capital markets regulator SEBI to initiate their initial public offerings (IPOs).

Jaro Institute's IPO, valued at Rs 570 crore, includes a fresh issue of shares up to Rs 170 crore and an offer for sale (OFS) of shares worth Rs 400 crore by promoter Sanjay Namdeo Salunkhe, as per their Draft Red Herring Prospectus (DRHP). The company may also consider a pre-IPO placement of up to Rs 34 crore. The funds from the fresh issue will be allocated towards marketing, brand building, advertising activities, and debt payment.

In Mumbai, All Time Plastics' IPO will feature a fresh issue of shares worth Rs 350 crore and an OFS of 52.5 lakh shares by promoters. Meanwhile, Scoda Tubes will offer an entirely fresh issue worth Rs 275 crore. Dev Accelerator's IPO will include a fresh issue of 2.47 crore shares with no OFS component. Shares of all four companies are set to be listed on the BSE and NSE.

(With inputs from agencies.)