The SEBI has approved draft papers of Fractal Analytics, Amagi Media Labs, and Sahajanand Medical Technologies, paving the way for their plans to raise funds via initial public offerings (IPO).
The capital markets regulator has issued observations on the draft document of Fractal Analytics, and Amagi Media Labs on November 18, and Sahajanand Medical Technologies on November 17. The issuance of observation on the IPO papers means the company can go ahead with its IPO plans within the next one year.
TPG- and Apax Partners-backed artificial intelligence solutions provider Fractal Analytics filed Draft Red Herring Prospectus (DRHP) with the SEBI in August this year to raise up to Rs 4,900 crore via IPO.
The public issue will comprise of fresh issuance of shares worth Rs 1,279.3 crore, and an offer-for-sale of Rs 3,620.7 crore worth shares by Quinag Bidco, TPG Fett Holdings, Satya Kumari Remala and Rao Venkateswara Remala, and GLM Family Trust.
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TPG Fett Holdings, an affiliate of the global alternative asset manager TPG Group, is the largest shareholder in Fractal with 25.67 percent stake, followed by GLM Family Trust (15.7 percent), and British private equity firm Apax Partners-owned Quinag Bidco (18.78 percent).
Azim Premji, Norwest Venture, and Accel-backed SaaS company Amagi Media Labs filed draft document with the capital markets regulator in July this year.
The Bengaluru-based software-as-a-service (SaaS) company that connects media companies to their audiences through cloud-native technology proposed to issue fresh shares worth Rs 1,020 crore, while the investors and other selling shareholders will be offloading 3.4 crore equity shares via offer-for-sale.
PI Opportunities Fund, Norwest Venture Partners, Accel India, Trudy Holdings, and AVP I Fund are among selling shareholders in the offer-for-sale.
Meanwhile, Samara Capital, NHPEA Sparkle, Kotak-backed cardiovascular devices maker Sahajanand Medical Technologies refiled its draft papers with the SEBI in July this year. It is entirely an offer-for-sale of 2.76 crore shares by promoters and investors.
Sahajanand Medical Technologies, founded by Dhirajlal Kotadia in 2001, is a Class III56 and Class C/D57 medical devices company with a portfolio of devices across vascular and structural heart intervention including coronary stents, coronary balloons, trans-catheter aortic valve (TAVI) and occluders.
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