Initial Public Offering: IPO market temperature rises!!!
The upcoming festive season can see a big stir in the IPO market. The way has been cleared for the launch of IPOs of online food delivery companies swiggy, hyundai Motor and vishal Mega Mart. Stock market regulator SEBI has given approval to all these three companies to bring IPO.
Green signal to Swiggy's IPO
swiggy india had filed draft papers with SEBI to launch IPO on 30 april 2024. SEBI has issued its observation letter to the company on 24 september 2024. swiggy had also filed an updated draft paper with the regulator, according to which the company will raise Rs 3750 crore by issuing fresh issues i.e. new shares and there are also plans to raise Rs 6000 crore through Offer for Sale in which investors will sell their stake in the company. That is, the company can raise Rs 10,000 crore through IPO.
SEBI's approval to hyundai Motor's IPO
SEBI has also approved the country's second largest passenger car Korean company hyundai Motor india Limited to bring IPO. hyundai Motor will raise Rs 25000 crore through IPO, which will be India's largest IPO in terms of size. SEBI has also issued an observation letter to hyundai Motor.
vishal Mega Mart's IPO gets approval
SEBI has also approved the IPO launch of vishal Mega Mart. vishal Mega Mart had earlier filed a confidential draft paper in July 2024. It is believed that the company can raise Rs 8400 crore from the market through IPO. SEBI has issued an observation letter to vishal Mega Mart on 25 September. Apart from this, SEBI has also given permission to Acme Sol Holdings and Mamla Machinery Limited to bring IPO. The companies to which the observation letter is issued for bringing IPO, it is necessary for the company to bring IPO within one year from that day. Otherwise, approval has to be taken from SEBI again.
click and follow Indiaherald WhatsApp channel