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Policybazaar, ESAF Small Finance Bank, 5 others get SEBI nod for IPO

Our Bureau Mumbai | Updated on October 26, 2021

Sapphire Foods, HP Adhesives, Tarsons Products to tap the market

The Securities and Exchange Board of India has given a go-ahead to seven companies to raise funds through initial public offerings.

Among them are PB Fintech, which operates online insurance platform Policybazaar and credit comparison platform Paisabazaar, Paytm’s parent firm One97 Communications and Sapphire Foods India, which operates KFC and Pizza Hut outlets. Others are ESAF Small Finance Bank, Anand Rathi Wealth, HP Adhesives and Tarsons Products.

These companies had filed their preliminary IPO papers with SEBI between July and August.

Policybazaar’s ₹6,017-cr IPO

PB Fintech’s ₹6,017.5-crore IPO comprises fresh issue of equity shares worth ₹3,750 crore and an offer for sale of ₹2,267.50 crore shares by existing shareholders and promoters.

For the proposed IPO, Kotak Mahindra Capital Company, Morgan Stanley India, Citigroup Global Markets India, ICICI Securities, HDFC Bank, IIFL Securities and Jeffries India are the book running lead managers.

One97 Communications’ IPO comprises fresh issue of equity shares amounting to ₹8,300 crore and an OFS by existing shareholders of ₹8,300 crore.

100% OFS from Sapphire

Sapphire Foods India’s IPO is completely an OFS – existing shareholders and promoters will sell 1.756 crore through the issue.

The sellers include QSR Management Trust which will sell 8.5 lakh shares, Sapphire Foods Mauritius which will offload 55.69 lakh shares, WWD Ruby which will sell 48.46 lakh shares and Amethyst which will offer 39.62 lakh shares.

₹1,000-cr ESAF IPO

ESAF SFB’s issue comprises fresh issue of ₹800 crore worth of ESAF Small Finance Bank shares and an OFS of ₹200 crore worth of shares by its promoters. The offer includes a reservation for subscription by eligible employees of up to 5 per cent of the company’s post-offer paid-up equity share capital.

Anand Rathi Wealth

Anand Rathi Wealth’s issue will also be a 100 per cent OFS. Anand Rathi Financial Services, Anand Rathi, Pradeep Gupta, Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Family Trust, Jugal Mantri and Feroze Azeez will be selling 1.2 crore shares through the OFS.

HP Adhesives is planning to raise funds through fresh issue 41.4 lakh shares and OFS of 4.57 lakh shares by promoter Anjana Haresh Motwani.

Tarsons Products’ IPO comprises fresh issuance of equity shares worth ₹150 crore and an OFS of 1.32 crore shares.

The OFS will see offloading of shares by promoters and an investor. Sanjive Sehgal will sell up to 3.9 lakh equity shares and Rohan Sehgal will sell up to 3.1 lakh equity shares. Additionally, up to 1.25 crore equity shares will be divested by investor Clear Vision Investment Holdings.

Published on October 25, 2021

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