Sebi clears IPOs of Sunshine Pictures, M&B Engineering, and Lumino Industries
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Capital markets regulator Sebi has given the green light to three companies -- Vipul Shah-backed Sunshine Pictures , Gujarat-based M&B Engineering, and power infrastructure firm Lumino Industries -- to raise funds via initial public offerings (IPOs).Sunshine Pictures, co-founded by filmmaker Vipul Amrutlal Shah, has received approval to raise funds through an IPO comprising 83.75 lakh equity shares.The issue includes a fresh issue of 50 lakh shares and an offer-for-sale (OFS) of 33.75 lakh shares by promoters. Shah will offload 23.69 lakh shares while Shefali Vipul Shah will sell 10.05 lakh shares.The company plans to deploy up to Rs 94 crore from the fresh issue to meet long-term working capital needs and for general corporate purposes.Meanwhile, Gujarat-based M&B Engineering, a leading manufacturer of Pre-Engineered Buildings (PEB) and Self-Supported Roofing systems, will raise Rs 653 crore through its IPO.The offer comprises a fresh issue of Rs 325 crore and an OFS of Rs 328 crore by promoters. With one of the highest installed capacities in its segment—103,800 MTPA for PEB and 1.8 million sq. metres for Self-Supported Roofing—the company will allocate Rs 63.9 crore for machinery purchases, Rs 60 crore for debt repayment, and Rs 110 crore towards working capital needs.In parallel, Kolkata-based Lumino Industries, a fast-growing player in conductors, power cables, and EPC services, will tap the markets with a Rs 1,000 crore IPO.This includes a fresh issue worth Rs 600 crore and an OFS of Rs 400 crore by promoters Devendra Goel and Jay Goel. The proceeds will be used for debt reduction (Rs 420 crore), capital expenditure (Rs 15.08 crore), and general corporate purposes.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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