Sebi Approves 5 IPOs Including Kissht and Alcobrew Distilleries
The Securities and Exchange Board of India (Sebi) has recently given the green light to five initial public offerings (IPOs) from various sectors, including digital lending, alcoholic beverages, textiles, and engineering. Among these, Kissht and Alcobrew Distilleries stand out as noteworthy issuers.
Overview of Approved IPOs
– Kissht (OnEMI Technology Solutions)
– Offering Size: Up to ₹1,000 crore
– Face Value: Re 1 per share
– Structure: Comprises fresh shares and an offer for sale of up to 8,879,575 equity shares from existing shareholders. Additionally, there’s a reserved portion for eligible employees.
– Pre-IPO Placement: May raise up to ₹200 crore, which will reduce the fresh issue size.
– Background: Founded in 2016, Kissht offers personalized digital loans via its mobile app, catering to both consumer and business needs, positioning itself as a fast and efficient lending platform.
– Alcobrew Distilleries
– Offering Size: Up to ₹258.26 crore
– Components: Fresh issue alongside an offer for sale of 1.8 crore shares by a promoter.
– Purpose of Funds: To be allocated for business expansion, working capital, and general corporate needs.
– Products: Manufactures a range of alcoholic beverages, including whisky, vodka, and rum, with brands like Golfer’s Shot and White & Blue.
– Aastha Spintex
– Offering Size: Up to ₹160 crore
– Method: Entirely fresh issue through the book-building route.
– Use of Proceeds: Primarily for acquiring Falcon Yarns and other corporate purposes.
– Indo MIM
– Offering Size: Fresh issue worth ₹1,000 crore
– Structure: Includes the offer for sale of 12.97 crore shares by existing shareholders.
– Allocation of Funds: ₹720 crore aimed at debt repayment, with remaining funds earmarked for general purposes.
– Specialization: Focuses on precision components using advanced metal injection moulding technology since 1996.
– Kusumgar
– Offering Size: ₹650 crore through an offer for sale.
– Focus: As this is solely an offer for sale, the company will not collect any proceeds from this IPO.
– Product Range: Manufactures synthetic fabrics used in aerospace, defense, industrial, automotive, and lifestyle sectors.
Conclusion
Sebi’s approval of these five IPOs, including the significant offerings from Kissht and Alcobrew Distilleries, underscores a growing trend in diverse sectors seeking capital markets access. This development is particularly noteworthy as it reflects the dynamic nature of the financial landscape, where companies across various industries are gearing up to tap into public investment. As these firms prepare for their listings, market observers and investors alike will be keenly watching their performance and subsequent impact on the capital markets.