GK Energy, BlueStone & 2 other firms get SEBI’s nod to launch IPOs
The Indian stock market has been abuzz with the latest development in the IPO (Initial Public Offering) space. SEBI (Securities and Exchange Board of India), the regulatory body responsible for overseeing the Indian capital markets, has given the green light to four companies to raise funds through IPOs. The companies that have received approval from SEBI are Anthem Biosciences, Aye Finance, GK Energy, and BlueStone Jewellery and Lifestyle.
The four companies had applied for their IPOs in December 2024, and now, they have received the necessary clearance from SEBI to move forward with their public offerings. The IPOs will comprise a fresh issue of shares, with the total amount of funds to be raised by the companies estimated to be around ₹5,780 crore.
Anthem Biosciences, a biotechnology company, is set to raise ₹3,395 crore through its IPO, which will consist of a fresh issue of shares worth ₹1,295 crore and an offer for sale (OFS) of up to ₹2,100 crore by its existing shareholders. The company plans to utilize the funds raised from the IPO to finance its research and development activities, expand its manufacturing capabilities, and strengthen its balance sheet.
Aye Finance, a microfinance company, will raise ₹885 crore through its IPO, which will consist of a fresh issue of shares worth ₹560 crore and an OFS of up to ₹325 crore by its existing shareholders. The company plans to utilize the funds raised from the IPO to strengthen its balance sheet, expand its operations, and improve its risk management practices.
GK Energy, an energy company, will raise ₹500 crore through its IPO, which will consist of a fresh issue of shares worth ₹300 crore and an OFS of up to ₹200 crore by its existing shareholders. The company plans to utilize the funds raised from the IPO to finance its expansion plans, improve its operational efficiency, and strengthen its balance sheet.
BlueStone Jewellery and Lifestyle, a jewelry company, will raise ₹1,000 crore through its IPO, which will consist of a fresh issue of shares worth ₹800 crore and an OFS of up to ₹200 crore by its existing shareholders. The company plans to utilize the funds raised from the IPO to finance its expansion plans, improve its operational efficiency, and strengthen its balance sheet.
The approval from SEBI is a significant milestone for these companies, as it gives them the necessary clearance to move forward with their IPOs. The funds raised from the IPOs will enable the companies to achieve their growth plans, strengthen their balance sheets, and improve their operational efficiency.
The IPO market in India has been experiencing a resurgence in recent times, with several companies listing their shares on the bourses. The IPO market has been driven by the growing appetite for shares among investors, who are looking for opportunities to invest in companies that have growth potential.
In conclusion, the approval from SEBI to launch their IPOs is a significant development for Anthem Biosciences, Aye Finance, GK Energy, and BlueStone Jewellery and Lifestyle. The funds raised from the IPOs will enable these companies to achieve their growth plans, strengthen their balance sheets, and improve their operational efficiency. The IPO market in India is expected to continue to grow in the coming months, with several companies lined up to launch their public offerings.
Source: https://www.ndtvprofit.com/amp/ipos/aye-finance-gk-energy-two-others-get-sebi-approval-for-ipo
