IPO Boom: Six Companies Get Sebi Nod to Raise Over Rs 10,000 Crore

Carlyle-backed Hexaware Technologies, Vikran Engineering, PMEA Solar Tech Solutions, Ajax Engineering, Scoda Tubes, and All Time Plastics have received Sebi approval to launch IPOs, collectively raising over Rs 10,000 crore. These six firms will soon list their equity shares on the BSE and NSE.

Six companies, including private equity firm Carlyle-backed Hexaware Technologies, have received the go-ahead from the Securities and Exchange Board of India (Sebi) to raise funds through Initial Public Offerings (IPOs). The approvals were granted through observation letters issued by Sebi between January 14 and January 17.

These companies, comprising Hexaware Technologies, Vikran Engineering, PMEA Solar Tech Solutions, Ajax Engineering, All Time Plastics, and Gujarat-based Scoda Tubes, collectively aim to mobilize more than Rs 10,000 crore. According to their draft papers, the publicly traded equity shares will soon be listed on both the BSE and NSE.

Hexaware Technologies will sell up to Rs 9,950 crore worth of equity shares through a complete offer for sale by its promoter, CA Magnum Holdings, part of Carlyle Group. Meanwhile, Vikran Engineering and PMEA Solar Tech Solutions are also gearing up for substantial fundraising through a mix of fresh equity and offers for sale.

(With inputs from agencies.)