IPO Surge: Four Companies Set to Raise Rs 3,000 Crore
Four companies, including Rubicon Research and Sai Life Sciences, received Sebi's approval to collectively raise Rs 3,000 crore through IPOs. Sanathan Textiles and Metalman Auto were also cleared. The funds will be used for debt repayment, corporate growth, and other strategic initiatives. BMW Ventures withdrew its IPO filing.
- Country:
- India
Four companies, including pharmaceutical formulation firm Rubicon Research and TPG Capital-backed Sai Life Sciences, have secured approval from the Securities and Exchange Board of India (Sebi) to collectively raise at least Rs 3,000 crore through Initial Public Offerings (IPOs).
The other companies gaining the green light are yarn manufacturer Sanathan Textiles and auto components maker Metalman Auto. Meanwhile, BMW Ventures, which had filed for an IPO in September, retracted its application on October 28.
The four successful companies filed their draft IPO papers with Sebi in July and August and received the regulator's observations, equivalent to the go-ahead for public issues, on October 31. The raised funds will aid in debt repayment and bolster corporate growth and strategic initiatives.
(With inputs from agencies.)