Rubicon Research will bring IPO of Rs 1085 crore
Four companies, including pharma company Rubicon Research and Sai Life Sciences, have received approval for IPO from SEBI. These four companies will raise around Rs 3000 crore from their respective IPOs. According to an update released by SEBI on Wednesday, the two other companies that have received IPO approval are Sanatan Textiles and automobile components maker Metalman Auto.
BMW Ventures had withdrawn the application
Meanwhile, BMW Ventures, which filed its IPO documents in September, withdrew the documents on October 28. It said that four companies – Rubicon Research, Sai Life Sciences, Sanatan Textiles and Metalman Auto – had submitted papers for IPO with SEBI during July and August. These companies received SEBI’s ‘finding’ on October 31. SEBI’s opinion is necessary for any company to launch an IPO.
Rubicon Research will bring IPO of Rs 1085 crore
According to preliminary documents, Rubicon Research’s Rs 1,085 crore IPO will see fresh equity shares worth Rs 500 crore issued and an OFS worth Rs 585 crore by promoter general Atlantic Singapore RR Pte Ltd. Currently, General Atlantic holds more than 57 percent stake in Rubicon Research.
What will be the size of IPO of other companies?
The proposed IPO of Hyderabad-based Sai Life Sciences comprises a fresh issue of equity shares worth Rs 800 crore and an OFS of 6.15 crore shares by promoters, investor shareholders and other shareholders. Sanatan Textiles’ IPO is a mix of fresh issue of equity shares up to Rs 500 crore and OFS by promoters up to Rs 300 crore, the statement said. The proposed IPO of Metalman Auto is a combination of fresh issue of equity shares worth Rs 350 crore and OFS of 1.26 crore shares by its promoters.
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