SEBI Clears Public Offerings for Arkade, Juniper, CJ Darcl & Indo Farm

5 Feb 2024 , 09:49 PM

The Securities and Exchange Board of India (SEBI) has approved initial public offerings (IPOs) for four companies: Arkade Developers, CJ Darcl Logistics, Juniper Hotels, and Indo Farm Equipment.

1. Arkade Developers IPO:
   • The Mumbai-based real estate developer aims to raise Rs 430 crore through a fresh issue.
   • The funds raised will be utilized for ongoing and upcoming projects, land acquisition, and general corporate purposes.
   • Unistone Capital is the sole book running lead manager to the issue.
2. Juniper Hotels IPO:
   • The Mumbai-based luxury hotel development and ownership company plans to mobilize Rs 1,800 crore through a fresh issue.
   • The net fresh issue proceeds will be used to repay outstanding borrowings.
   • JM Financial, CLSA India, and ICICI Securities are the merchant bankers for the issue.
3. CJ Darcl Logistics IPO:
   • The Gurugram-based logistics company’s IPO includes a fresh issue of shares worth Rs 340 crore and an offer-for-sale (OFS) of 54.31 lakh equity shares.
   • The funds raised will be utilized for debt repayment and capital expenditure for purchasing electric vehicles.
   • ICICI Securities, Axis Capital, and Mirae Asset Capital Markets (India) are the book running lead managers.
4. Indo Farm Equipment IPO:
   • The Chandigarh-based tractors and pick & carry cranes manufacturer plans to issue 1.4 crore equity shares, consisting of a fresh issue and an offer-for-sale (OFS) by promoter Ranbir Singh Khadwalia.
   • The net fresh issue proceeds will be used for expanding the pick & carry cranes manufacturing capacity, debt repayment, and investment in NBFC subsidiary.
   • Aryaman Financial Services is the sole book running lead manager.

Additionally, SEBI has returned the draft papers filed by Kronox Lab Sciences and Shree Tirupati Balajee Agro Trading. The observation issuance with respect to Asirvad Micro Finance IPO has been kept in abeyance.