4 Firms Get Sebi’s Nod To Raise Rs 6,354 Cr Via IPOs

New Delhi: As many as four companies -- Anthem Biosciences, Aye Finance, BlueStone Jewellery and Lifestyle and GK Energy -- have received Sebi's go-ahead to raise funds through Initial Public Offerings (IPOs), an update with markets regulator showed on Tuesday. Together, these four companies are looking to garner at least Rs 6,345 crore through initial share sales.

These companies, which filed their preliminary IPO papers with Sebi in December, obtained its observations during April 1 to 3, the update showed. In Sebi's parlance, obtaining the observations means its go ahead to float the public issue. As for Anthem Biosciences, its Rs 3,395-crore IPO is entirely an Offer For Sale (OFS) by promoters, investors and other selling shareholders, according to a Draft Red Herring Prospectus (DRHP).

Since the IPO is entirely an OFS, the company will not receive any funds from the issue, and the proceeds will go to the selling shareholder. The Bengaluru-based Anthem is into innovation-driven and technology-focused Contract Research, Development and Manufacturing Organisation (CRDMO) with fully integrated operations spanning drug discovery, development and manufacturing. The proposed IPO of non-banking financial company Aye Finance is a combination of a fresh issue of shares worth Rs 885 crore and an OFS of Rs 565 crore by corporate and individual selling shareholders, as per the draft papers.

Proceeds from the fresh issuance will be utilised to augment the NBFC's player capital base and for general corporate purposes. The IPO of BlueStone Jewellery and Lifestyle, which offers contemporary lifestyle diamond, gold, platinum, and studded jewellery under its flagship brand "BlueStone", comprises a fresh issue of shares worth Rs 1,000 crore and an OFS of 2.4 crore equity shares by selling shareholders, according to the draft papers. Those selling shares through the OFS are -- Kalaari Capital Partners II, LLC, Saama Capital II, Ltd and Sunil Kant Munjal (and other partners of Hero Enterprise Partner Ventures) and other selling shareholders.