Aadhar Housing Finance, TVS Supply Chain Solutions, three others get Sebi’s nod to float IPOs
As many as five companies, including Aadhar Housing Finance, TVS Supply Chain Solutions and Landmark Cars, have received capital markets regulator Sebi’s go ahead to raise funds through initial share sales.
Apart from these, Bikaji Foods International and Kids Clinic India too have obtained the regulator’s approval to float Initial Public Offerings (IPOs). These five companies, which filed their IPO papers with Sebi between January 2021 and February 2022, obtained its “observations” during May 2-5, an update with Sebi showed on Monday. In Sebi’s parlance, its observation implies its go ahead to launch IPO. Going by the draft papers, Blackstone-backed Aadhar Housing, which filed preliminary papers with Sebi in January last year, is looking to raise Rs 7,300 crore through its initial share sale. The IPO comprises fresh issuance of shares worth Rs 1,500 crore and an Offer For Sale (OFS) of up to Rs 5,800 crore by promoter BCP Topco VII Pte Ltd. The IPO of TVS Supply Chain Solutions, which is a part of TVS Mobility Group, consists of fresh issue of equity shares aggregating up to Rs 2,000 crore and an OFS of up to 5.95 crore equity shares by promoter and existing investors.
Those offering shares in the OFS are — TVS Mobility, Omega TC Holdings PTE Ltd, Mahogany Singapore Company PTE Ltd, Tata Capital Financial Services Ltd and DRSR Logistics Service. According to market sources, the size of the IPO will be around Rs 5,000 crore. The Rs 762-crore IPO of automobile dealership chain Landmark Cars consists of a fresh issue of equity shares aggregating to Rs 150 crore and an OFS of up to Rs 612 crore. The OFS comprises sale of shares worth up to Rs 400 crore by TPG Growth II SF PTE Ltd, up to Rs 62 crore by Sanjay Karsandas Thakker HUF, up to Rs 120 crore by Aastha Limited and up to Rs 30 crore by Garima Misra. The public issue of Kids Clinic India, which operates super specialty mother and baby care chain Cloudnine, consists of a fresh issue of equity shares worth up to Rs 300 crore and an OFS of up to 1,32,93,514 equity shares by existing shareholders. Dr R Kishore Kumar, Scrips ‘N’ Scrolls India Private Limited, True North Fund V LLP, Indium V (Mauritius) Holdings Limited, and Sequoia Capital Investment are among the key shareholders selling shares in the IPO. As per market sources, the company is looking to raise around Rs 1,200 crore through the IPO.
Bikaji International, a leading manufacturer of snacks and sweets, is aiming to mop up an estimated Rs 1,000 crore through its initial share sale. Certain shareholders of the Rajasthan-based company, including two promoters, are planning to offload around 2.94 crore shares through the OFS route. Bikaji was the largest manufacturer of Bikaneri bhujia with an annual production of 26,690 tonnes in fiscal 2021. It is a leading maker of packaged rasgulla, soan papdi and gulab jamun.
The equity shares of the five companies will be listed on the BSE and NSE.