There is good news for investors earning through Initial Public Offering (IPO). Actually, like LIC, IPOs of two more companies are about to be launched. These two companies are Rainbow Children’s Medicare Ltd., which runs a chain of children’s hospitals, and E-Mudra Ltd., a digital signature proofing firm.
Approval from SEBI: The IPO of both these companies has been approved by the Securities and Exchange Board of India (SEBI). SEBI said that permission letters were issued to the applications made by these two companies during March 9-11. Both these companies had submitted preliminary documents for IPO with SEBI in November-December 2021.
How many shares of which company: According to the draft documents, Rainbow Children’s Medicare will also bring an offer for sale (OFS) of 2.4 crore equity shares, apart from issuing fresh shares worth Rs 280 crore. Market sources say that the company can raise Rs 2,000 crore from the IPO.
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At the same time, E-Mudra Limited will also make an offer for sale of 85.1 lakh shares apart from issue of fresh equity shares worth Rs 200 crore. The company may consider raising Rs 39 crore from pre-IPO placement. If this happens the offer of new shares will be reduced. Equity shares of both the companies will be listed on both BSE and NSE stock exchanges.