Six companies, which filed draft papers, have got approval from Securities and Exchange Board of India (Sebi) to raise funds via initial public offerings (IPOs).
These six firms are: FSN E-Commerce Ventures, Adani Wilmar, Star Health and Allied Insurance Company, Sigachi Industries, Latent View Analytics and Penna Cement Industries.
FSN E-Commerce Ventures, owner of Nykaa brands, IPO includes a fresh issue of raising ₹525 crore and an offer for sale of up to 43.11 million shares by its existing shareholders and promoters.
Nykaa was founded in 2012 by investment banker Falguni Nayar and currently it is a leading player in the online beauty aggregator sector.
The firm is a digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers. It has a diverse portfolio of beauty, personal care and fashion products, consisting of its own brand products.
Adani Wilmar plans to raise ₹4,500 crore via fresh issuance of equity. The maker of top-selling edible oil brand “Fortune" is a joint venture between Adani Enterprise and Asian agri business Wilmar International.
Adani Wilmar has the largest range of edible oils comprising soya bean, sunflower, mustard and rice bran, amid others. Its Fortune brand of oil has around 20% market share in India.
Star Health and Allied Insurance, owned by a consortium of investors, consisting of Rakesh Jhunjhunwala and Westbridge Capital, IPO comprises a fresh issue of ₹2,000 crore and an offer for sale of 60.10 million shares.
Star Health is the largest private health insurer in India with a market share of 15.8% in the Indian health insurance market in Fiscal 2021. As of fiscal year 2021, it had a total Gross Written Premium (GWP) of ₹93.49 billion.
Hyderabad-based Sigachi Industries IPO is a fresh issuance of up to 2.84 million shares. The firm is engaged in manufacturing of microcrystalline cellulose (MCC) which is widely used as an excipient for finished dosages in pharmaceutical industry.
Latent View Analytics Ltd, a global digital analytics firm, IPO comprises a fresh issue of ₹474 crore and an offer for sale of up to ₹126 crore.
The company designs and engineers result-oriented analytics solutions for its clients that enable them to operate more efficiently by predicting outcomes that fuel digital transformation and sustainability.
Its expertise in business analytics includes analytics with respect to customer profiling, targeted marketing, supply chain management, finance and risk management, and HR functions.
Penna Cement Industries IPO comprises a fresh issue of ₹1,300 crore and an offer for sale of up to ₹250 crore by its promoter PR Cement Holdings Ltd. Currently, PR Cement Holdings hold 33.41% stake in the company.
Penna Cement is one of the largest privately held cement companies in India and a leading integrated cement player in terms of cement production capacity.
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