Initial Public Offering Update: There may be a big stir in the IPO market in the coming festive season. The way has been cleared for the launch of IPOs of online food delivery company Swiggy, Hyundai Motor and Vishal Mega Mart. Stock market regulator SEBI has given approval to all these three companies to launch IPO.
Swiggy’s IPO gets green signal
Swiggy India had filed draft papers with SEBI to launch the IPO on April 30, 2024. SEBI has issued its observation letter to the company on 24 September 2024. Swiggy had also filed an updated draft paper with the regulator, according to which the company will raise Rs 3750 crore by issuing fresh issue i.e. new shares and there is also a plan to raise Rs 6000 crore through Offer for Sale in which investors will invest in the company. Will sell his stake. That means the company can raise Rs 10,000 crore through IPO.
SEBI gives permission to Hyundai Motor’s IPO
SEBI has also given approval to the country’s second largest passenger car Korean company Hyundai Motor India Limited to launch an IPO. Hyundai Motor will raise Rs 25000 crore through IPO, which will be India’s largest IPO in terms of size. SEBI has also issued observation letter to Hyundai Motor.
Vishal Mega Mart’s IPO gets approval
SEBI has also approved the IPO launch of Vishal Mega Mart. Vishal Mega Mart had earlier filed the confidential draft paper in July 2024. It is believed that the company can raise Rs 8400 crore from the market through IPO. SEBI has issued observation letter to Vishal Mega Mart on 25 September. Apart from this, SEBI has also given permission to Acme Sol Holdings and Mamla Machinery Limited to launch IPO. It is mandatory for the companies to launch IPO within one year from the date on which observation letter is issued for launching IPO. Otherwise approval has to be taken from SEBI again.
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