Prestige Hospitality Ventures, SSF Plastics, 3 others get SEBI's approval for IPOs

SEBI Approval to 5 IPOs

SSF Plastics India, Anand Rathi Share and Stock Brokers, and Prestige Hospitality Ventures are among five companies that received approval from the capital markets regulator SEBI to go ahead with their IPO plans. Epack Prefab Technologies, and Gujarat Kidney and Super Speciality are the other two companies that have been allowed to float IPOs.

The SEBI has issued observation letters on draft papers of all these five companies this week. The issuance of observation letter means the company can launch its IPO within the next one year from the receipt of the said letter.

Hotel chain Prestige Hospitality Ventures, a part of the South-based real estate firm Prestige Estates Projects, which filed draft papers in April this year, is planning to raise Rs 2,700 crore via initial public offering (IPO).

The IPO will be a combination of fresh issuance of shares worth Rs 1,700 crore and an offer-for-sale (OFS) of Rs 1,000 crore worth shares by promoter Prestige Estates Projects. The fresh issue proceeds will be used majorly for repaying debt.

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Mumbai-based plastic packaging product maker SSF Plastics India filed draft red herring prospectus (DRHP) with the SEBI in March this year. The entirely fresh issue of 2.2 crore shares will comprise of fresh issue of equity shares worth Rs 300 crore, and an OFS of Rs 250 crore worth shares by promoters.

Broking services provider Anand Rathi Share and Stock Brokers has proposed to mobilise Rs 745 crore via initial share sale which will consist of entirely fresh issue. It has refiled its IPO papers in March this year, after the regulator returned its previous draft documents in January this year.

Anand Rathi plans to utilise most of IPO funds for its working capital requirements.

Epack Prefab Technologies, the pre-engineered buildings solutions provider, has filed preliminary papers in January 2025 to raise funds via IPO. The public issue will be a mix of fresh issuance of shares worth Rs 300 crore, and an OFS of 1 crore shares by promoters. If the IPO plan gets fructify, this would be the second company from the Epack group to be listed on the bourses after Epack Durable.

Gujarat Kidney and Super Speciality, the mid-sized multispeciality hospitals chain, proposed to raise funds for the debt reduction and business expansion. It has filed draft papers with the regulator towards the end of March 2025 to mobilise funds via IPO, which consists of entirely fresh issue of 2.2 crore shares.