Marketson-banking financial company Arohan Financial Services and Dodla Dairy, a leading dairy company in South India, have gone ahead with capital market regulator Sebi to float an initial share-sale.
Both companies filed their preliminary papers with SEBI on 15 February and received their comments on 23 April, an update with SEBI was shown on 26 April.
SEBI overview is very essential for any company to launch public issues like Initial Public Offer (IPO), Follow-on Public Offer (FPO), and Rights Issue.
Ascent Financial Services plans to raise Rs 1,750 crore to Rs 1,800 crore according to market sources.
According to the draft Red Herring Prospectus (DRHP), the public offer of the Aishishkaar Group promoted company includes a fund through the issuance of shares worth Rs 850 crore.
In addition, the company will have an offer to sell 2,70,55,893 equity shares by Major Invest Financial Inclusion Fund II K / S, Michael & Susan Dell Foundation, Tano India Private Equity Fund II, TR Capital III Mauritius, and Aavishkaar. Goodwell India Microfinance Development Company II Limited
Net income from the current issue will be used to increase the company’s capital base so that future capital requirements can be met.
Edelweiss Financial Services Limited, ICICI Securities Limited, Nomura Financial Advisory & Securities (India) Private Limited and SBI Capital Markets Limited are the managers of the issue.
Up to Rs 50 crore shares have been issued in the IPO of Dodla Dairy, in addition, TPG is proposed to sell equity shares up to 10,085,444 by Dodla Dairy Holdings Pte Ltd, Dodla Sunila Reddy, Dodla Deepa Reddy and Dodla Family Trust. Draft papers.
The proceeds from the issue will be used for the payment of certain borrowings, meeting the capital expenditure requirements of the company, and for general corporate purposes.
Axis Capital and ICICI Securities will manage the initial share sale of the company.
The company operates in India mainly in the four southern Indian states of Andhra Pradesh, Telangana, Karnataka and Tamil Nadu. Its international operations are based in Uganda and Kenya.
The equity shares of the two companies will be listed on the NSE and BSE.