As many as three companies -- Inventia Healthcare, Metropolis Healthcare and Xelpmoc Design and Tech -- have received markets regulator SEBI's approval to float initial public offerings.
With this, the total companies getting clearance from the Securities and Exchange Board of India (SEBI) to launch IPO has reached 73 so far this year.
Xelpmoc Design obtained "observations" from the markets regulator on November 20, while Inventia Healthcare and Metropolis Healthcare received the same on November 22, latest update with SEBI showed.
These three companies had filed their respective draft documents with the markets watchdog during August-September.
The SEBI's observations are necessary for any company to launch public issues such as initial public offer (IPO), follow-on public offer (FPO) and rights issue.
Going by the draft papers, Inventia Healthcare's IPO comprises fresh issuance of equity shares worth up to Rs 125 crore, besides, an offer of sale up to 31.64 lakh scrips by promoters and other shareholder.
In the offer for sale, promoters --- Janak Shah and Maya Shah -- and private equity fund Jacob Ballas will sell shares.
The IPO is expected to fetch Rs 450 crore, merchant banking sources said.
Proceeds of the issue will be used for payment of outstanding borrowings availed by the company and for other general corporate purposes.
ICICI Securities and Centrum Capital will manage the company's initial share-sale.
Metropolis Healthcare's IPO will see an offer for sale of up to 50,17,868 equity shares by Sushil Kanubhai Shah and up to 1,02,51,816 equity shares by CA Lotus Investments.
JM Financial, Credit Suisse Securities (India), Goldman Sachs (India), HDFC Bank and Kotak Mahindra Capital Company are the managers to the issue.
Xelpmoc Design and Tech plans to raise Rs 23 crore through the IPO and funds raised through the issue will be used to purchase IT hardware and networking equipment for its development centres in Hyderabad and Kolkata, as well as for its working capital requirements.
ITI Capital is the sole book-running lead manager to the issue.
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