Nykaa, Adani Wilmar, Star Health, Penna Cement, 2 others get SEBI nod for IPO

Market regulator Securities and Exchange Board of India (SEBI) has given its nod to six companies, including Adani Wilmar, Star Health and Allied Insurance Co Ltd, Nykaa, and Penna Cement Industries, for their respective initial public offering (IPOs).

Sigachi Industries and Latent View Analytics are the other two companies which have got the green signal from the market regulator for an IPO.

The six companies had filed the draft IPO papers with SEBI during May-August period, and received "observations" from the regulator between October 11-14, as per the latest update on its website.

In SEBI parlance, issuance of observations implies its go-ahead to float the IPO.

As per the draft papers, the IPO of FSN E-Commerce Ventures Ltd, which runs online marketplace Nykaa for beauty and wellness products, comprises fresh issue of equity shares worth Rs 525 crore and an offer for sale (OFS) of 43,111,670 equity shares by the promoter and existing shareholders.

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For Adani Wilmar, a 50:50 joint venture between the Adani Group and the Wilmar Group, the IPO offer will comprise a fresh issue of equity shares for an amount of up to Rs 4,500 crore. There will not be any secondary offering.
 
Star Health, a leading private health insurer owned by a consortium of investors like Westbridge Capital and Rakesh Jhunjhunwala, is aiming to raise Rs 2,000 crore through a fresh issue of equity shares, while the IPO will also have an offer for sale of up to 60,104,677 equity shares by promoters and existing shareholders.
 
The Hyderabad-based Penna Cement's IPO comprises fresh issue of equity shares worth Rs 1,300 crore and an offer for sale of up to Rs 250 crore by the promoter, as per its draft red herring prospectus (DRHP).
 
Latent View Analytics' IPO consists of fresh issue of equity shares worth Rs 474 crore and an offer for sale of equity shares to the tune of Rs 126 crore by a promoter and existing shareholders.
 
The IPO of Sigachi Industries, a manufacturer of cellulose-based excipient, will see sale of up to 76.95 lakh equity shares.
 
(With PTI inputs)

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