Public issue: HAL, two others get SEBI nod
As many as three firms, including State-owned Hindustan Aeronautics, have received SEBI approval to launch their initial public offerings, latest updates with the market regulator showed.
The other two firms are: Future Supply Chain Solutions, and Gandhar Oil Refinery (India). The three companies had filed their respective draft papers with the regulator between August and September and obtained ‘observations’ from the markets watchdog between October 26 and 27.
Govt to divest 10%
Through Hindustan Aeronautics’ IPO, the government will sell 3.61 crore shares, amounting to 10 per cent, according to draft papers.
The public issue of Future Supply Chain Solutions comprises an offer-for-sale of over 78.27 lakh equity shares by Griffin Partners and up to 19,56,914 equity shares by Future Enterprises. According to merchant banking sources, the IPO is expected to garner ₹700 crore. Future Supply Chain Solutions is part of Kishore Biyani’s Future Enterprise.
Gandhar Oil Refinery’s IPO consists of a fresh issue of equity shares worth ₹195 crore and an OFS of up to six lakh shares by existing shareholders.
Aster DM to raise $150 m
United Arab Emirates-based Aster DM Healthcare expects to raise around $150 million from listing a 10 per cent stake on the BSE by March 2018, its managing director said on Monday.
The company filed a prospectus for an IPO of shares in India in June last year.
Managing Director Azad Moopen said that the company would list the minority stake on the BSE before the end of the current financial year in March. “We are planning to do the roadshows in November and December,” he said.