IPO
The excitement in the IPO market is showing no signs of slowing down. One company after another is coming out with its IPO or submitting papers to SEBI to do so. Now Anand Rathi Group’s ‘brokerage’ arm Anand Rathi Share & Stock Brokers has filed documents with capital markets regulator SEBI to raise Rs 745 crore through an initial public offering (IPO). At the same time, solar energy company GK Energy Limited has also filed documents with market regulator SEBI to raise funds through IPO.
Company provides brokerage service
According to documents filed with SEBI, the proposed IPO will entirely be an issue of new shares worth up to Rs 745 crore. The company can raise Rs 149 crore in the pre-IPO issue. If this issue is completed then the size of the proposed IPO will be reduced. The documents were filed with SEBI on Saturday. According to this, Rs 550 crore raised from the IPO will be used for the company’s long-term working capital requirements and general corporate purposes. Anand Rathi Share & Stock Brokers Limited offers a wide range of financial services including ‘Broking’, ‘Margin Trading’ and distribution of financial products under the brand name ‘Anand Rathi’.
GK Energy will sell new shares worth Rs 500 crore
Solar powered agricultural water pump system provider GK Energy Ltd has filed documents with market regulator SEBI to raise funds through an initial public offering (IPO). According to documents filed with the Securities and Exchange Board of India (SEBI), the company’s proposed IPO is a combination of fresh shares worth Rs 500 crore and an offer for sale (OFS) of 84 lakh shares. The company plans to raise Rs 100 crore in the pre-IPO issue. If this is successful, the size of the proposed IPO may be reduced.
The documents were filed with SEBI on Friday. According to this, Rs 422.46 crore raised from the IPO will be used for long-term capital requirements. The remaining amount will be kept for general corporate purposes. GK Energy Limited provides engineering, procurement and commissioning services for solar powered agricultural water pump systems.
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