List Of Six Companies That Have Approvals From SEBI To Launch IPOs

Six additional companies have had their initial public offerings (IPOs) approved by India's market regulator, the Securities and Exchange Board of India (Sebi). In the following months, the rising activity in India's initial public offering market is expected to continue.

According to an update with the markets watchdog on Monday, these six businesses received an observation letter from the regulator between November 16 and 18, after filing their preliminary IPO papers with Sebi between August and September. The issue of an observations letter denotes the Sebi's approval of an IPO.

1. Pharmacy retail chain MedPlus Health Service
2. Travel technology services firm RateGain Travel Technologies
3. Microlender Fusion MicroFinance
4. retail wealth management firm Prudent Corporate Advisory Services
5. Private market intelligence platform Tracxn Technologies
6. real estate developer Puranik Builders.

MedPlus Health Service

Medplus Health Services, situated in Hyderabad, plans to earn 1638.71 crore through an initial public offering (IPO), which will include a fresh issue of 600 crore and an offer for sale of 1038.71 crore by its current promoters and shareholders.

Puranik Builders

Puranik Builders' initial public offering (IPO) consists of a fresh issue of 510 crore and an offer for sale of up to 9.45 lakh shares by its promoter groups. The profits of the offering will be used to pay down the company's debt. The proceeds of the new issue will be utilised to pay the company's subsidiary Optival's working capital needs.

RateGain Travel

The IPO of travel and hospitality services provider RateGain Travel Technologies consists of a new issuance of 400 crore and a promoter offer for sale of up to 2.26 crore. The profits will be utilised to repay debt, pay deferred consideration for the DHISCO acquisition, and make strategic investments, acquisitions, and inorganic expansion.

The initial share sale of RateGain Travel Technologies comprises of a fresh issue of equity shares worth up to 400 crore and an OFS by promoters and existing shareholders worth up to 2.26 crore shares.

Wagner Limited is selling 1.71 crore equity shares, Bhanu Chopra is selling up to 40.44 lakh shares, Megha Chopra is selling up to 12.94 lakh shares, and Usha Chopra is selling up to 1.52 lakh shares in the OFS.

Fusion Microfinance

Fusion Microfinance's initial public offering (IPO) consists of a fresh issue of equity shares for Rs 600 crore and an OFS of 2.19 crore equity shares by the promoters and existing shareholders. Devesh Sachdev, Honey Rose Investment, Creation Investments Fusion LLC, Oikocredit Ecumenical Development Co-operative Society U.A, and Global Financial Inclusion Fund are among those selling shares in the OFS.

Fusion MicroFinance, which is funded by global private equity company Warburg Pincus, intends to use the net proceeds of the new offer to expand the microfinance organization's capital base.

Prudent Corporate Advisory Services

Prudent Corporate Advisory Services' initial share offering is wholly an OFS of 85,49,340 equity shares.

Wagner Ltd, a TA Associates business, will sell 82,81,340 equity shares as part of the OFS, while Shirish Patel, Whole Time Director and Chief Executive Officer of Prudent, will sell up to 2.68 lakh equity shares.

Tracxn Technologies

The promoter and investor selling stockholders would sell 3.86 crore equity shares in Tracxn Technologies' first public offering (IPO).

The OFS will see promoters Neha Singh and Abhishek Goyal sell up to 76.62 lakh shares each, Flipkart founders Binny Bansal and Sachin Bansal sell up to 12.63 lakh shares each, Elevation Capital sell up to 1.09 crore shares, Accel India IV Mauritius sell up to 40.2 lakh shares, and SCI Investments V sell up to 21.81 lakh shares, among others.