GK Energy, BlueStone & 2 other firms get SEBI’s nod to launch IPOs
The Indian stock market is expected to witness a fresh influx of new listings as four companies have received approval from the Securities and Exchange Board of India (SEBI) to launch their Initial Public Offerings (IPOs). Anthem Biosciences, Aye Finance, GK Energy, and BlueStone Jewellery and Lifestyle have cleared the regulatory hurdles and are now ready to raise funds through public issues.
The four companies had filed their draft red herring prospectus (DRHP) with SEBI in December 2024, seeking approval to raise funds through IPOs. The regulator has now given its nod to all four companies to move forward with their public issues.
As per the approved plans, Anthem Biosciences will raise ₹3,395 crore through a fresh issue of shares, while BlueStone Jewellery will raise ₹1,000 crore. Aye Finance and GK Energy will raise ₹885 crore and ₹500 crore, respectively.
Anthem Biosciences, a biotechnology company, is planning to utilize the raised funds to expand its research and development activities, enhance its manufacturing capabilities, and strengthen its distribution network. The company has reported a revenue growth of 45% YoY in FY22 and has a strong pipeline of products in various stages of development.
Aye Finance, a non-banking finance company (NBFC), provides microfinance services to underserved communities. The company plans to use the raised funds to expand its operations, strengthen its balance sheet, and enhance its technology infrastructure. Aye Finance has reported a revenue growth of 35% YoY in FY22 and has a strong track record of lending to small and marginal businesses.
GK Energy, an energy infrastructure company, is planning to utilize the raised funds to develop and upgrade its power generation and transmission assets. The company has reported a revenue growth of 25% YoY in FY22 and has a strong pipeline of projects in various stages of development.
BlueStone Jewellery and Lifestyle, a luxury jewelry and lifestyle brand, plans to use the raised funds to expand its retail presence, enhance its marketing and branding efforts, and invest in technology infrastructure. The company has reported a revenue growth of 30% YoY in FY22 and has a strong brand presence in the Indian market.
The IPOs of these four companies are expected to be launched in the coming months, subject to market conditions and regulatory approvals. Investors are likely to be keenly watching the IPOs, given the strong growth prospects of these companies.
In conclusion, the approval of SEBI for the IPOs of Anthem Biosciences, Aye Finance, GK Energy, and BlueStone Jewellery and Lifestyle is a significant development in the Indian stock market. The four companies have strong growth prospects and are well-positioned to benefit from the growth opportunities in their respective sectors. Investors can look forward to a fresh influx of new listings in the coming months, providing them with more options to diversify their portfolios.
Source: https://www.ndtvprofit.com/amp/ipos/aye-finance-gk-energy-two-others-get-sebi-approval-for-ipo
