The initial share-sale is a combination of fresh issue of equity shares worth Rs 680 crore and an offer-for-sale (OFS) of 1.86 crore shares by promoters and an existing investor, according to the draft red herring prospectus (DRHP) filed on Saturday.
Kronox Lab Sciences public issue comprises only an offer-for-sale (OFS) of 96 lakh equity shares by promoters.
The shares will be listed on NSE Emerge, a platform for small and medium enterprises.
Integrated services company BVG India Ltd had filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in September 2021 to raise funds through an initial public offering (IPO).
The IPO is a fresh issue of up to 1.01 crore equity shares by existing shareholders, according to the draft red herring prospectus (DRHP).
Proceeds from the issue will be used to repay debt, fund the working capital requirements of the company and for general corporate purposes. The Maharashtra-based company posted a profit after tax of Rs 11.5 crore and a total income of Rs 259 crore for the fiscal ended March 31, 2022.
The proceeds of the public issue will be used towards growth initiatives, expanding logistics capabilities and enhancing the company’s technology infrastructure
Markets regulator Sebi has sought clarification on the proposed Rs 10,000 crore initial public offering of top bourse National Stock Exchange (NSE).