IXIGO, KEVENTER, SAHAJANAND MEDICAL GET SEBI’S GO-AHEAD TO FLOAT IPOS

NEW DELHI: Le Travenues Technology Ltd, which operates travel platform Ixigo, has received markets regulator Sebi’s go-ahead to raise ₹1,600 crore through an initial sharesale. Apart from this, cardiac stent maker Sahajanand Medical Technologies and food and beverage major Keventer Agro have received regulatory approval from Sebi to float their initial public offerings (IPOs).

These three companies, which filed their preliminary IPO papers with Sebi between August and September, obtained observation letter from the regulator during December 16-17, an update with the markets watchdog showed on Monday.

In Sebi parlance, the issuance of observation letter implies its go-ahead for the IPO.

Going by the draft papers, Le Travenues Technology’s IPO comprises fresh issuance of shares worth ₹750 crore and an offer-for-sale (OFS) of equity shares to the tune of ₹850 crore by existing shareholders.

As part of the OFS, Saif Partners India IV will offload shares worth ₹550 crore, Micromax Informatics will sell shares for ₹200 crore and Aloke Bajpai and Rajnish Kumar will divest stakes worth ₹50 crore each.

Currently, SAIF Partners holds 23.97% in the company, Micromax 7.61%, Aloke Bajpai 9.18% and Rajnish Kumar 8.79% stake in the firm. The proceeds of the fresh issue will be used to fund the company’s organic and inorganic growth initiatives and for general corporate purposes.

Sahajanand Medical Technologies’ initial share-sale consists of fresh issuance of equity shares worth ₹410.33 crore and an offer-for-sale of equity shares to the tune of ₹1,089.67 crore by selling shareholders.

Under the OFS, Samara Capital Markets Holding will sell shares worth ₹635.56 crore and Nhpea Sparkle Holdings B.V will offload stocks to the tune of ₹320.36 crore, among others.