IPO watch: These 6 companies file draft papers with Sebi to launch IPOs

It is raining IPOs at Dalal Street and amid the ongoing hot season for initial stake sales, a host of companies have filed their draft red herring prospectuses (DRHPs) with the capital market regulator Sebi to launch their IPOs to raise capital from the primary markets. These issues were filed in the last couple of days.

Chennai-based eye care services player Dr Agarwal Health Care filed its DRHP to float its IPO. The Temasek Holdings and TPG-backed healthcare player is looking to raise Rs 300 crore via fresh share sale and it may also include an offer for sale of up to 69,568,204 equity shares by the promoter and other selling shareholders.

The offer also includes a subscription reservation for eligible employees. Kotak Mahindra Capital Company, Morgan Stanley India, Jefferies India and Motilal Oswal Investment Advisors are the lead managers for the issue, while Kfin Technologies has been appointed as the registrar for the issue.

Mumbai-based Vikran Engineering is also looking to raise Rs 1,000 crore via IPO route. The issue is likely to be a mix of fresh issue of shares up to Rs 900 crore and an OFS of up to Rs 100 crore by promoter Selling Shareholders Rakesh Ashok Markhedkar.

The EPC company engaged in power, water & railway infrastructure is backed by seasoned investors like Ashish Kacholia and Mukul Agarwal. Pantomath Capital Advisors and Systematix Corporate Service are the lead managers to the issue, while Bigshare Services shall serve as the registrar for the issue.

Another Kolkata based infra player Rahee Infratech has also filed draft papers with the market's watchdog Sebi to raise funds. The proposed IPO includes a fresh shares sale of Rs 420 crore and an offer for sale of up to 27 lakh equity shares. The issue is managed by IIFL Securities and Equirus Capital, while KFin Technologies is the registrar for the issue.

Rahee Infratech is focused on providing manufacturing and construction services including the design, supply, construction and installation of tracks, turnkey bridge construction projects including both substructure and superstructure and the design, manufacture and supply of turnouts and track devices, rail fastening systems and sleepers.

Vikram Solar also has filed its DRHP to launch its IPO which includes a fresh share sale of Rs 1,500 crore and an OFS of up to 174.50 lakh equity shares. The Kolkata-based solar photo-voltaic module manufacturer in India may have a reservation for eligible employees, alongside a discount The company may also consider issuing specified securities up to Rs 300 crore via pre-IPO placement route.

JM Financial, Nuvama Wealth Management, UBS Securities India, Equirus Capital, Phillip Capital (India) are the lead managers to the issue. The company has appointed Link Intime India as the registrar for the issue.

Similarly, Hyderabad based Midwest which is engaged in the business of exploration, mining, processing, marketing, distribution and export of natural stones has filed its DRHP with Sebi for Rs 650 crore IPO. The IPO shall be a mix of fresh issue of shares up to Rs 250 crore and an OFS of up to Rs 400 crore by promoters.

DAM Capital Advisors, Intensive Fiscal Services and Motilal Oswal Investment Advisors shall be lead book-running managers to the issue, while Kfin Technologies shall be the registrar for this IPO.

 

Mumbai-based Jaro Institute of Technology Management and Research, also known as Jaro Education, has also filed DRHP to float is IPO, which shall include fresh issue of up to Rs 170 crore and an offer for sale of Rs 400 crore by the promoter selling shareholder- Sanjay Namdeo Salunkhe.
 

The institute delivers personalized, technology-driven degree programs and certification programs, may consider a pre-IPO placement of Rs 34 crore. Nuvama Wealth Management, Motilal Oswal Investment Advisors and Systematix Corporate Services shall be registrar for the issue, while Bigshare Services will enact as the registrar for the issue.