look news india
New Delhi: Stock market regulator Securities and Exchange Board of India (SEBI) has approved five companies including Bajaj Housing Finance and Manba Finance to launch initial public offerings (IPOs). According to information provided by SEBI, the companies that have been approved for IPOs include Bazaar Style Retail, Diffusion Engineers Limited and Deepak Builders and Engineers India.
On July 31, SEBI returned the draft related to the IPO of Santhan Textiles Limited. Along with this, SEBI has lifted the ban on the proposed initial share sale of Rs 2200 crore of its finance.
New shares worth Rs 4000 crore
According to the documents, Bajaj Housing Finance's Rs 7000 crore IPO will see fresh equity shares worth up to Rs 4000 crore offered for sale and equity shares worth Rs 3000 crore offered for sale by parent company Bazaar Finance. The shares are being sold to comply with Reserve Bank of India regulations that require top tier non-banking financial companies to be listed on stock exchanges by September 2025.
New issue of 1.26 crore shares
The proposed IPO of Manba Finance will be entirely a fresh issue of 1.26 crore shares without any OFS. Currently, promoters hold 100 per cent stake in Maharashtra-based Manba Finance. Bazaar Style Retail's IPO is a mix of fresh shares worth Rs 148 crore, besides OFS of 1.68 shares from existing promoter group entities and other shareholders.
Diffusion Engineers' IPO is a fresh issue of a total of 98.5 lakh equity shares. Deepak Builders & Engineers' IPO will see the issuance of 1.2 crore fresh shares and an offer for sale of 24 lakh equity shares by the existing promoters. The shares of these companies are proposed to be listed on BSE and NSE.
