5 Companies Get SEBI Nod for IPOs

18 Sep 2024 , 09:41 AM

Several companies have received the green light from the Securities and Exchange Board of India (SEBI) to proceed with their initial public offerings (IPOs). Among those approved are Afcons Infrastructure, Godavari Biorefineries, Shivalik Engineering, Quadrant Future Tek, and Enviro Infra Engineers.

Afcons Infrastructure:

• Backed by the Shapoorji Pallonji Group.
• Plans to raise ₹7,000 crore through its IPO.
• Proceeds will be used for capital expenditure, working capital, debt repayment, and general corporate purposes.

Shivalik Engineering:

• Precision engineering company based in India.
• IPO includes a fresh issue of ₹335 crore and an offer-for-sale by existing shareholders.
• Proceeds will be used for working capital, development of electronic interlocking systems, debt repayment, and general corporate purposes.

Godavari Biorefineries:

• Ethanol-based chemicals manufacturer backed by Mandala Capital AG.
• IPO includes a fresh issue and an offer-for-sale by investors and promoters.
• Proceeds will be used primarily for debt repayment.

Quadrant Future Tek:

• Speciality cables manufacturer for railways and the defense industry.
• IPO includes a fresh issue of ₹275 crore.
• Proceeds will be used for working capital, development of electronic interlocking systems, debt repayment, and general corporate purposes.

Enviro Infra Engineers:

• Develops water and wastewater treatment plants.
• IPO includes a fresh issue and an offer-for-sale by promoters.
• Proceeds will be used for general corporate purposes.

These companies are now poised to tap the capital markets and raise funds for their growth initiatives.