January 31, 2023

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ESAF SFB, Sapphire Foods among seven companies to get Sebi’s nod for IPO

As many as seven businesses, including ESAF Smaller Finance Bank, Sapphire Meals India and Anand Rathi Prosperity, have gained money markets regulator Sebi’s nod to elevate resources via original general public choices (IPOs).

In addition, PB Fintech, which operates an on the internet insurance policies system Policybazaar and credit history comparison portal Paisabazaar, Paytm’s mum or dad business One97 Communications, everyday living sciences firm Tarsons Items and HP Adhesives much too gained Sebi’s clearance to float their IPOs.

These businesses, which filed their draft papers with Sebi involving July and August, acquired the regulator’s observations throughout October eighteen-22, an update with Sebi confirmed on Monday.

In Sebi’s parlance, the issuance of observation is equal to the regulator’s acceptance.

ESAF Smaller Finance Bank’s Rs 997.seventy eight-crore general public situation includes a contemporary situation of equity shares value Rs 800 crore and an offer for sale of Rs 197.seventy eight crore by existing shareholders, according to draft pink herring prospectus (DRHP).

Less than the offer for sale, the promoter will be selling shares value Rs a hundred and fifty crore, PNB MetLife would offload shares to the tune of Rs 21.33 crore, Bajaj Allianz Everyday living will offer shares of Rs seventeen.forty six crore, PI Ventures will offer Rs eight.73 crore value shares and John Chakola will offer shares value Rs 26 lakh.

The IPO of Sapphire Meals India Ltd, which operates KFC and Pizza Hut stores, will be entirely an offer of sale (OFS) of seventeen,569,941 equity shares by promoters and existing shareholders.

As a section of the OFS, QSR Management Trust will offer eight.50 lakh shares, Sapphire Meals Mauritius Ltd will offload 55.sixty nine lakh shares, WWD Ruby Ltd will divest 48.forty six lakh shares and Amethyst will offer 39.sixty two lakh shares.

In addition, AAJV Financial commitment Trust will offer 80,169 shares, Edelweiss Crossover Alternatives Fund will offload 16.15 lakh shares and Edelweiss Crossover Alternatives Fund-Collection II will divest six.forty six lakh shares.

The original share-sale of Anand Rathi Prosperity Ltd, section of Mumbai-centered economical solutions team Anand Rathi, is totally an offer for sale of one.2 crore equity shares by promoters and existing shareholders.

Those giving shares in the offer for sale are — Anand Rathi Financial Expert services Minimal, Anand Rathi, Pradeep Gupta, Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Family Trust, Jugal Mantri and Feroze Azee.

According to the draft papers, Paytm designs to elevate Rs eight,three hundred crore via contemporary situation of equity shares and yet another Rs eight,three hundred crore via the offer-for-sale route.

Paytm founder, taking care of director and main govt Vijay Shekhar Sharma and Alibaba team corporations will dilute some of their stake in the proposed offer-for-sale.

In addition, investors selling stake contain Antfin (Netherlands) Holding BV, Alibaba.Com Singapore E-Commerce Non-public Ltd, Elevation Capital V FII Holdings Ltd, Elevation Capital V Ltd, SAIF III Mauritius Corporation Ltd, SAIF Associates India IV Ltd, SVF Panther (Cayman) Ltd and BH Global Holdings.

The Rs six,017.50 crore IPO of PB Fintech includes a contemporary situation of Rs three,750 crore value of equity shares and an offer for sale of Rs 2,267.50 crore by existing shareholders.

As section of the OFS, SVF Python II (Cayman) will offer shares value Rs one,875 crore, Yashish Dahiya will offer shares value Rs 250 crore and some other selling shareholders will also divest shares.

Tarsons Products’ IPO includes contemporary issuance of equity shares value Rs a hundred and fifty crore and an offer for sale of one.32 crore equity shares by promoters and an investor.

As a section of the OFS, promoters — Sanjive Sehgal will offload up to three.nine lakh equity shares and Rohan Sehgal will offer up to three.one lakh equity shares — and investor Clear Eyesight Financial commitment Holdings Pte Ltd will divest up to one.twenty five crore equity shares.

HP Adhesives’ original share-sale is made up of contemporary issuance of forty one.forty lakh equity shares and an offer of sale of 4,57,200 equity shares by promoter Anjana Haresh Motwani.

The firm manufactures a wide selection of purchaser adhesives and sealants products this sort of as PVC, solvent cement, artificial rubber adhesive, PVA adhesives, silicone sealant, acrylic sealant, gasket shellac, other sealants and PVC pipe lubricant.

The shares of these businesses will be stated on the BSE and NSE.

(Only the headline and picture of this report could have been reworked by the Organization Standard staff members the rest of the content material is auto-created from a syndicated feed.)