Fusion CX, others get Sebi's approval for IPOs
Fusion CX and other companies have received SEBI’s approval for their IPOs, paving the way for upcoming public market listings and fresh investor opportunities.
Fusion CX, others get Sebi's approval for IPOs
Mumbai, Dec 17
Fusion CX, a customer experience service provider, is looking to raise Rs 1,000 crore through its IPO, comprising a fresh issue of shares worth Rs 600 crore and an offer for sale (OFS) of shares valued at Rs 400 crore, according to the draft red herring prospectus. Its IPO has received SEBI’s approval on December 11.
The Hyderabad-based IPO is a combination of a fresh issue of equity shares aggregating up to Rs 500 crore and an OFS of 2.98 crore equity shares by the selling shareholders, according to the DRHP.
It plans to use funds for payment of debt, setting up of new stores under the RS Brothers and South India Shopping Mall formats, and for general corporate purposes.
Fusion CX Ltd. IPO is a Book Build Issue of ₹1,000.00 crores consisting of a fresh issue of shares worth Rs ₹600.00 crores and an offer for sale (OFS) of ₹400.00 crores.
The equity shares are proposed to be listed on NSE and BSE. Nuvama Wealth Management Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Apart from Fusion CX, there are six companies, including Yashoda Healthcare Services and Orient Cables, which have secured Sebi's approval to raise funds through initial public offerings, SEBI data revealed.
Other firms that received regulatory approvals are Turtlemint Fintech Solutions, RSB Retail India, SFC Environmental Technologies, and Lohia Corp.
Together, these companies are expected to fetch over Rs 6,000 crore.
These seven companies approached Sebi between May and September, obtained its observations during December 8-12.
In Sebi's parlance, receiving observations is equivalent to its go-ahead to proceed with a public issue.
Yashoda Healthcare Services, the company filed draft papers with Sebi in September through a confidential route for raising funds through its maiden public offering.
The IPO size is expected to be anywhere between Rs 3,000 and Rs 4,000 crore.
Companies opted for the confidential pre-filing route, which allows them to withhold public disclosure of IPO details under the draft red herring prospectus until later stages.
