New Delhi, Jun 3 (PTI) As many as six entities including HDB Financial Services, a subsidiary of HDFC Bank, and Vikram Solar have received Sebi's go ahead to raise funds through initial public offering (IPOs), an update with the markets regulator showed on Tuesday.
The other firms that received Sebi's nod are -- A-One Steels India, Shanti Gold International, Dorf-Ketal Chemicals and Shreeji Shipping Global Ltd.
These six firms, which filed their preliminary IPO papers with Sebi between October 2024 and January 25, 2025 obtained their observations during May 27-30, the update showed.
In Sebi's parlance, obtaining observations means go ahead to float the public issue.
As for HDB Financial Services, its proposed IPO is a combination of a fresh issue of equity shares worth Rs 2,500 crore and an offer-for-sale (OFS) of Rs 10,000 crore by promoter HDFC Bank, according to the draft red herring prospectus (DRHP).
At present, HDFC Bank holds 94.36 per cent stake in HDB Financial Services, a non-banking financial company (NBFC).
The company proposes to utilize the proceeds from the fresh issue to strengthen its Tier-I capital base. This will support future capital needs, including additional lending, to support business growth.
Vikram Solar's IPO is a mix of fresh issue of shares up to Rs 1,500 crore and an offer-for-sale (OFS) of up to 17.45 million equity shares by promoter and promoter group selling shareholders.
Shares of these six firms are proposed to be listed on the BSE and NSE. PTI SP DRR
/newsdrum-in/media/member_avatars/9Rj3p38eDEeibqzKtTLR.jpg )
Follow Us/newsdrum-in/media/agency_attachments/2025/01/29/2025-01-29t072616888z-nd_logo_white-200-niraj-sharma.jpg){kind=logo}
