Business

This Gujrat company got green signal from SEBI to bring IPO, preparing to raise 400 crores

Photo:FILE IPO

Highlights

  • Documents were filed with SEBI for IPO in March
  • PKH Ventures gets SEBI nod to float IPO
  • The shares of both the companies will be listed on BSE and NSE

Gujarat Polysol Chemicals, PKH Ventures get SEBI nod for IPO. Chemicals maker Gujarat Polysol Chemicals Limited (GPCL) and construction and hospitality firm PKH Ventures have received approval from the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). SEBI on Monday said that the applications made by these companies have been issued ‘conclusion’ during July 18-22.

Apply for IPO in March

Both these companies had filed preliminary documents for IPO with SEBI in March. The conclusion of SEBI is necessary for any company to bring an IPO. According to the documents, Gujarat Polysol Chemicals will raise Rs 414 crore through the IPO. Under the IPO, up to Rs 87 crore of fresh shares will be issued and the promoters of the company will bring an offer of sale (OFS) worth Rs 327 crore. In the IPO of PKH Ventures, more than 1.82 crore new shares will be issued by the company and its promoters will bring an offer for sale of 98.31 lakh equity shares. The shares of both the companies will be listed on BSE and NSE.

Sai Silks plans to raise 1,200 crores

Apparel sector retailer Sai Silks (Kalamandir) Ltd has submitted preliminary documents with the Securities and Exchange Board of India (SEBI) to raise Rs 1,200 crore through an initial public offering (IPO). According to the draft document, new shares worth Rs 600 crore will be issued in the IPO. Apart from this, an offer will also be made for sale of 18,048,440 shares held by the promoters and promoter group of the company. The proceeds from the issue will be used for setting up 25 new stores and two godowns, meeting working capital requirements, debt repayment and general commercial purposes.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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