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VLCC Health, Metro Brands, Eight Other Firms Get SEBI Nod For IPO

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VLCC Health Care

The wellness & beauty services and products company’s IPO comprises fresh issuance of equity shares worth Rs 300 crore and an offer of sale of 89.22 lakh equity shares by the promoter and existing shareholders, according to its draft red herring prospectus.

As part of the OFS, promoter Mukesh Luthra will sell 18.83 lakh shares, OIH Mauritius will sell 18.97 lakh shares and Leon International will sell 51.41 lakh shares. The company may also consider a pre-IPO private placement of shares to raise up to Rs 100 crore—which if completed, will reduce the fresh issue size, the prospectus said.

Funds raised through the fresh issuance of shares will be used for setting up VLCC Wellness Clinics in India and Gulf Cooperation Council region, VLCC Institutes in India, and for refurbishment of certain existing VLCC Wellness Clinics in India and GCC region. The company also plans to repay loans, invest in brand development and digital and information technology infrastructure.

Metro Brands

The Rakesh Jhunjhunwala-backed footwear retailer’s IPO comprises fresh issuance of shares worth Rs 250 crore and an OFS of 2.19 crore shares by shareholders. The company will use proceeds from the issue towards expenditure for opening new stores.

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The data and technology products and platforms company is also known as CE Info Systems. Its IPO includes an OFS of 75.47 lakh shares by its existing shareholders and promoters.

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Shareholder Rashmi Verma will sell 30.70 lakh shares under the OFS, Qualcomm Asia Pacific Pte will sell 20.26 lakh shares, Zenrin Co. will sell 10.27 lakh shares and up to 14.24 lakh shares will be sold by other shareholders.

Data Patterns (India)

The defence and aerospace electronics solutions provider’s IPO comprises a fresh issue of equity shares worth Rs 300 crore and an OFS of up to 60.70 lakh shares by promoters and existing shareholders, according to the DRHP filed with SEBI.

As part of the OFS, promoters Srinivasagopalan Rangarajan and Rekha Rangarajan will each sell up to 19.67 lakh shares, Sudhir Nathan will sell 75,000 shares, GK Vasundhara will sell 4.14 lakh shares and up to 16.46 lakh shares will be sold by individual shareholders.

The company intends to utilise the proceeds from the fresh issue to repay loans, fund working capital requirements, and upgrade and expand its existing facilities in Chennai.

India1 Payments

The independent non-bank ATM operator’s IPO comprises a fresh issue of shares worth Rs 150 crore and an OFS of up to 1.03 crore shares by existing shareholders and promoters.

Promoter Banktech Group will sell 1 lakh shares, promoter BTI Payments Singapore will sell 25.08 lakh shares, India Advantage Fund S3 I will sell 49.94 lakh shares, India Advantage Fund S4 I will sell 24.86 lakh shares and Dynamic India Fund S4 US I will sell 2.16 lakh shares under the OFS.

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The funds raised through the fresh issuance of shares will be used to repay debt and fund working capital requirements for setting up of ATMs.

Electronics Mart India

The consumer durable and electronics retailer’s IPO comprises the sale of shares worth Rs 500 crore. The company intends to utilise the net proceeds to fund its capital expenditure and incremental working capital requirements and pare debt.

Healthium Medtech

The company’s IPO comprises fresh issuance of equity shares worth Rs 390 crore and an OFS of 3.91 crore shares by the promoter and existing shareholders. As part of the OFS, Promoter Quinag Acquisition (FDI) will sell 3.90 crore shares and Mahadevan Narayanamoni will sell 1 lakh shares.

As much as Rs 50.09 crore from the fresh issue’s proceeds will be utilised to repay debt, Rs 179.45 crore will be invested into its subsidiaries Sironix, Clinisupplies and Quality Needles, and Rs 58 crore will be used for acquisition and other strategic initiatives.

Godavari Biorefineries

The ethanol producer’s IPO consists of fresh issuance of shares worth Rs 370 crore and OFS of 65.58 lakh shares by promoters and investors.

The funds raised through the fresh issuance of shares will be used to repay debt, fund capital expenditure for sugarcane crushing expansion, support capital expenditure for a potash manufacturing unit and general corporate purposes.

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AGS Transact Technologies

The omni-channel payment solutions provider is looking to raise Rs 800 crore through its IPO, which is entirely an OFS by the promoter Ravi B. Goyal, who will sell shares worth Rs 792 crore and other shareholders will sell shares worth Rs 8 crore.

Gemini Edibles And Fats

The edible oil company’s issue consists of OFS of Rs 2,500 crore by its promoter and existing shareholders.

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