Sebi approves IPO of Akums Drugs, Ceigall India, Orient Tech, Gold Plus | IPO News

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SEBI

Ceigall India, a Ludhiana-based infrastructure firm, is eyeing a Rs 618 crore fund raise through fresh issuance and will have up to 14.3 million equity shares for sale as promoters and an individual investor divest their stake.


The Securities and Exchange Board of India (Sebi) has approved initial public offerings (IPOs) of Akums Drugs and Pharmaceuticals, Ceigall India, Orient Technologies, and Gold Plus Glass Industry.


All four IPOs are a mix of fresh issue and offer for sale.


Akums Drugs plans to raise over Rs 680 crore through the fresh issue and constitutes an offer for sale (OFS) of 18.6 million shares by promoters Sanjeev Jain and Sandeep Jain, and existing investor Ruby QC Investment Holdings.


The proceeds from the fresh issuance will be deployed for debt repayment, working capital requirements, and other growth initiatives, including those through acquisitions.


Ceigall India, a Ludhiana-based infrastructure firm, is eyeing a Rs 618 crore fund raise through fresh issuance and will have up to 14.3 million equity shares for sale as promoters and an individual investor divest their stake.

Premji Invest-backed Gold Plus Glass Industry aims to raise Rs 500 crore through the fresh issuance and an OFS of 15.7 million shares. The selling shareholders include promoters Suresh Tyagi and Jimmy Tyagi, Kotak Special Situations Fund, and PI Opportunities Fund, which is owned by Premji Invest.


Delhi-based Gold Plus manufactures float glass and filed its draft red herring prospectus (DRHP) in February this year.


Information technology solutions provider Orient Technologies, which filed its DRHP in February this year, also received the Sebi nod on July 2.


The company’s public offer comprises a fresh issuance worth Rs 120 crore and an OFS of up to 4.6 million equity shares by promoter selling shareholders. From the fresh issuance, nearly Rs 79 crore will be utilised for capital expenditure and Rs 10.35 crore for the acquisition of office premises in Navi Mumbai.


The IPO pipeline in India has swelled with several new approvals, as the regulator earlier this month approved SoftBank-backed Unicommerce eSolutions, FirstCry parent Brainbees Solutions, Interarch Building Products, and Gala Precision Engineering.

First Published: Jul 08 2024 | 4:00 PM IST

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