Belrise Industries and Paramesu Biotech Gear Up for Rs 2,750 Crore IPOs

Belrise Industries and Paramesu Biotech received the green light from Sebi to raise Rs 2,750 crore through IPOs. While Belrise aims to generate Rs 2,150 crore, Paramesu targets Rs 600 crore. The funds raised will primarily be used to pay off debts and expand operations.

Belrise Industries and Paramesu Biotech have recently secured approval from Sebi to raise a combined Rs 2,750 crore through Initial Public Offerings, a move confirmed by the market regulator on Tuesday.

Belrise Industries intends to gather Rs 2,150 crore entirely through a fresh issue, as stated in their Draft Red Herring Prospectus. The proceeds will help in reducing the company's debt by Rs 1,618 crore, leaving them with a substantial borrowing sum of Rs 2,463 crore as of June 2024.

Paramesu Biotech, on the other hand, plans to raise Rs 520 crore from fresh shares and an additional Rs 80 crore through an Offer for Sale. The funds are allocated for debt payment, a plant setup in Madhya Pradesh, and other corporate needs.

(With inputs from agencies.)