As many as seven companies, including ESAF Small Finance Bank, Sapphire Foods India and Anand Rathi Wealth, have received capital markets regulator Sebi’s nod to raise funds through initial public offerings (IPOs).
In addition, PB Fintech, which operates an online insurance platform Policybazaar and credit comparison portal Paisabazaar, Paytm’s parent firm One97 Communications, life sciences company Tarsons Products and HP Adhesives too received Sebi’s clearance to float their IPOs.
In Sebi’s parlance, the issuance of observation is equivalent to the regulator’s approval.
ESAF Small Finance Bank’s Rs 997.78-crore public issue comprises a fresh issue of equity shares worth Rs 800 crore and an offer for sale of Rs 197.78 crore by existing shareholders, according to draft red herring prospectus (DRHP).
Under the offer for sale, the promoter will be selling shares worth Rs 150 crore, PNB MetLife would offload shares to the tune of Rs 21.33 crore, Bajaj Allianz Life will offer shares of Rs 17.46 crore, PI Ventures will sell Rs 8.73 crore worth shares and John Chakola will offer shares worth Rs 26 lakh.
The IPO of Sapphire Foods India Ltd, which operates KFC and Pizza Hut outlets, will be entirely an offer of sale (OFS) of 17,569,941 equity shares by promoters and existing shareholders.
As a part of the OFS, QSR Management Trust will sell 8.50 lakh shares, Sapphire Foods Mauritius Ltd will offload 55.69 lakh shares, WWD Ruby Ltd will divest 48.46 lakh shares and Amethyst will offer 39.62 lakh shares.
In addition, AAJV Investment Trust will sell 80,169 shares, Edelweiss Crossover Opportunities Fund will offload 16.15 lakh shares and Edelweiss Crossover Opportunities Fund-Series II will divest 6.46 lakh shares.
The initial share-sale of Anand Rathi Wealth Ltd, part of Mumbai-based financial services group Anand Rathi, is completely an offer for sale of 1.2 crore equity shares by promoters and existing shareholders.
Those offering shares in the offer for sale are — Anand Rathi Financial Services Limited, Anand Rathi, Pradeep Gupta, Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Family Trust, Jugal Mantri and Feroze Azeez.
According to the draft papers, Paytm plans to raise Rs 8,300 crore through fresh issue of equity shares and another Rs 8,300 crore through the offer-for-sale route.
Paytm founder, managing director and chief executive Vijay Shekhar Sharma and Alibaba group firms will dilute some of their stake in the proposed offer-for-sale.
In addition, investors selling stake include Antfin (Netherlands) Holding BV, Alibaba.Com Singapore E-Commerce Private Ltd, Elevation Capital V FII Holdings Ltd, Elevation Capital V Ltd, SAIF III Mauritius Company Ltd, SAIF Partners India IV Ltd, SVF Panther (Cayman) Ltd and BH International Holdings.
The Rs 6,017.50 crore IPO of PB Fintech comprises a fresh issue of Rs 3,750 crore worth of equity shares and an offer for sale of Rs 2,267.50 crore by existing shareholders.
As part of the OFS, SVF Python II (Cayman) will sell shares worth Rs 1,875 crore, Yashish Dahiya will offer shares worth Rs 250 crore and some other selling shareholders will also divest shares.
Tarsons Products’ IPO comprises fresh issuance of equity shares worth Rs 150 crore and an offer for sale of 1.32 crore equity shares by promoters and an investor.
As a part of the OFS, promoters — Sanjive Sehgal will offload up to 3.9 lakh equity shares and Rohan Sehgal will sell up to 3.1 lakh equity shares — and investor Clear Vision Investment Holdings Pte Ltd will divest up to 1.25 crore equity shares.
HP Adhesives’ initial share-sale consists of fresh issuance of 41.40 lakh equity shares and an offer of sale of 4,57,200 equity shares by promoter Anjana Haresh Motwani.
The company manufactures a wide range of consumer adhesives and sealants products such as PVC, solvent cement, synthetic rubber adhesive, PVA adhesives, silicone sealant, acrylic sealant, gasket shellac, other sealants and PVC pipe lubricant.
The shares of these companies will be listed on the BSE and NSE.