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IPO Watch: Gold Plus Glass Industry, Uniparts India get SEBI nod for IPO

Photo:FILE IPO Watch

Highlights

  • Approval from SEBI during 22-23 September
  • Uniparts is trying to list for the third time
  • Harsh Engineers shares rose 47 percent on first day

IPO Watch: Float glass maker Gold Plus Glass Industry and engineering solutions provider Uniparts India has received capital markets regulator SEBI’s nod for an initial public offering (IPO). Both the companies had applied to the Securities Exchange Board of India (SEBI) in April for an IPO. According to the information given on the website of the regulator, they received the observation letters during September 22-23. In the parlance of SEBI, an overview letter means getting the green light for an IPO.

Gold Plus will raise 300 crores

According to the application for IPO, the IPO of Gold Plus Glass Industry comprises fresh issue of equity shares of up to Rs 300 crore and Offer for Sale (OFS) of 1,28,26,224 equity shares by the promoters and existing shareholders. The IPO of Uniparts India is purely in the form of an offer for sale. Under this, 1,57,31,942 equity shares of the promoter group entities and existing investors will be offered for sale. Since the IPO will be purely OFS, the company will not receive any proceeds from the public issue. Uniparts is trying to get listed for the third time. Earlier she has filed and withdrawn her papers twice.

Harsh Engineers shares rose 47 percent

Shares of Harsh Engineers International Ltd closed higher by over 47 per cent against the issue price of Rs 330 on the first day of trading on Monday. The company’s shares were listed on the BSE at Rs 444, up 34.54 per cent against the issue price. During the day’s trading, it had climbed 59.87 percent to Rs 527.60 at one time. It finally closed at Rs 485.90 per share, up 47.24 per cent. At the same time, the company’s stock opened at Rs 450 with a gain of 36.36 percent on NSE and finally closed at Rs 482.70 with a rise of 46.27 percent. The initial public offering (IPO) of Harsh Engineers International was subscribed 74.70 times earlier this month. The price range for the share was fixed at Rs 314-330 per share with an offer of around Rs 755 crore. With this, the company’s market valuation on the BSE stood at Rs 4,423.83 crore.

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