Entero Healthcare Solutions, JNK India, Exicom Tele-Systems, and Akme Fintrade (India) have secured approval from the Securities and Exchange Board of India (Sebi) to initiate their initial public offerings (IPOs). Meanwhile, Stallion India Fluorochemicals has had its IPO papers returned by Sebi. According to the latest update from Sebi on January 19, these four companies, which submitted their preliminary documents between June and October, received observation letters, signifying the regulator’s green light for the IPO launch.
As per Entero Healthcare Solutions’ draft papers, the IPO includes a fresh issue of equity shares amounting to Rs 1,000 crore and an Offer For Sale (OFS) component of up to 85.57 lakh equity shares. The promoters, including Prabhat Agrawal and Prem Sethi, along with other shareholders, are participating in the OFS. JNK India’s public issue comprises a fresh issue of equity shares worth up to Rs 300 crore and an OFS of up to 84.21 lakh equity shares by promoters and an existing shareholder.
Akme Fintrade (India) Ltd, based in Udaipur, plans an initial share sale with a fresh issuance of 1.1 crore equity shares and no Offer For Sale (OFS) component. The funds raised will be utilized to strengthen the company’s capital base. Exicom Tele-Systems Ltd’s IPO includes a fresh issue of equity shares up to Rs 400 crore and an offer-for-sale component of up to 74 lakh equity shares by promoter NextWave Communications, which presently holds a 71.45% stake in the company.
The proposed listing of these four companies’ equity shares is on the BSE and NSE.
