These 4 companies including Kent RO get approval to bring IPO from SEBI, IPO of Oswal pumps will open on June 13
Kent ro Four companies, including Systems and Karmatara Engineering, have been approved from SEBI to raise funds through the initial public issue (IPO). According to the information provided by the Securities and Exchange Board of India (SEBI) on Tuesday, the other two companies are transformer manufacturer Mangal Electrical Industries and ‘Winding’ manufacturer Vidya Wires which have been approved to bring IPOs. According to the information, the four companies filed IPO documents in January. He was approved to bring an IPO from SEBI from June 3 to 6. Meanwhile, Sai Infinium withdrew its IPO documents on June 4.
Kent RO’s IPO fully ofs
According to the IPO documents filed by these companies, the IPO of Kent RO Systems is completely based on the sale of one crore share of the promoters (OFS). The proposed IPO of Karmatara Engineering is a combination of new shares worth Rs 1,350 crore and sales offer (OFS) of shares worth Rs 400 crore. The IPO of Rs 450 crore of Mars Electrical Industries is completely based on a new issue with no sales offering (OFS) component. At the same time, the IPO of Vidya Wires is a combination of new shares up to Rs 320 crore and sales offer of one crore share by promoters. The shares of these companies will be listed on BSE and NSE.
Oswal pumps IPO will open on June 13
Oswal Pumps have fixed a price scope of Rs 584-614 per share for its initial public issue (IPO) of Rs 1,387 crore. According to the company statement, the IPO will open on June 13 and will conclude on 17 June. The IPO is a combination of a new share of Rs 890 crore and a sale of 81 lakh shares worth Rs 497.34 crore from promoter Vivek Gupta. Thus the issue size is Rs 1,387.34 crore.
Where will the IPO money be used
According to the statement, the amount received from the IPO will be used for investing in Oswal Solar, a subsidiary of some capital exercises of the company, a loan -owned subsidiary of the company, to set up new manufacturing units in Karnal, Haryana, payment of loan and general functioning. The company makes electric motors containing solar energy-powered and grid-related submersible and monoblock pumps, induction and submersible motor as well as solar modules and sells them under the ‘Oswal’ brand.
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