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Mint
2 days ago
- Business
- Mint
Upcoming IPOs: Vidya Wires, Mangal Electrical Industries get SEBI nod for public issue
Upcoming IPOs: Winding and conductivity products manufacturer Vidya Wires and Jaipur-based Mangal Electrical Industries have received approval from markets regulator Securities and Exchange Board of India (SEBI) to raise funds via initial public offering (IPO). Vidya Wires IPO comprises of a fresh issue of equity shares aggregating up to ₹ 320 crores by company and an offer for sale aggregating up to 1,00,00,000 equity shares by the promoter selling shareholders with face value of ₹ 1 each equity share. The company intends to use the net proceeds to finance capital expenditures for establishing a new project through its subsidiary, Alcu, to repay or prepay, either fully or partially, specific outstanding borrowings, and to support general corporate activities. Shyamsundar Rathi, Shailesh Rathi and Shilpa Rathi are the promoters of the company. Pantomath Capital Advisors Private Limited and IDBI Capital Markets & Securities Limited are the Book Running Lead Managers to the issue. The equity shares of the Company are proposed to be listed on both BSE and NSE. Jaipur-based Mangal Electrical Industries with a face value of ₹ 10 per share, is a completely fresh issue amounting to ₹ 450 crore, with no shares being offered for sale by existing shareholders. The company had filed its IPO papers with SEBI on December 24 last year. The funds raised from the fresh issue will be utilized as follows: up to ₹ 96.03 crore will be used to repay or prepay, either fully or partially, certain outstanding borrowings of the Company; ₹ 120 crore will be allocated towards capital expenditure for expanding the facility at Unit IV in Reengus, Sikar District, Rajasthan, as well as for civil work at the existing head office in Jaipur to improve space utilization and increase storage capacity; ₹ 122 crore will be used to meet the Company's working capital needs; and the remaining amount will be allocated for general corporate purposes. Systematix Corporate Services Limited is the sole book-running lead manager and Bigshare Services Private Limited is the registrar of the issue. The equity shares are proposed to be listed on the National Stock Exchange of India Limited and BSE Limited. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
2 days ago
- Business
- Time of India
Kent RO Systems among four firms to win Sebi nod for IPOs
India's capital markets regulator Sebi (Securities and Exchange Board of India) has given the green light to initial public offerings of four companies, including water purification giant Kent RO Systems, in a move that underlines the growing momentum in the country's IPO pipeline across manufacturing and energy sectors. The four companies that received IPO approvals are Kent RO Systems, Vidya Wires, Karamtara Engineering, and Mangal Electrical Industries. Their proposed offerings, spanning a mix of fresh issues and offers for sale, reflect a wide industry spread from water purifiers and kitchen appliances to transformers, specialty wires, and renewable energy infrastructure. Kent RO Systems Kent RO Systems, a pioneer in India's water purifier industry, has received Sebi approval for a book-built IPO comprising an offer for sale of 1.01 crore equity shares by promoters Sunita Gupta, Mahesh Gupta, and Varun Gupta. The company will not receive any proceeds from the offer. 'The object of the offer is to achieve the benefits of listing the equity shares on the stock exchanges,' the company said in its draft red herring prospectus. Incorporated in 2007, Kent is credited with bringing reverse osmosis (RO) technology into Indian homes. Its NSF/ANSI 58-certified purifiers were the first in India to meet this U.S.-based national standard for point-of-use RO systems. The brand has since expanded into IoT-enabled and zero-water-wastage models, while also foraying into BLDC motor fans, high-speed mixers, and infrared cooktops. Kent operates four manufacturing units and has a wide service network spanning 15,000+ pin codes. JM Financial and Motilal Oswal Investment Advisors are the book running lead managers for the issue, while Kfin Technologies is the registrar. Karamtara Engineering Karamtara Engineering, a manufacturer of products for transmission lines and renewable energy infrastructure, has received approval for a Rs 1,750 crore IPO, which includes a Rs 1,350 crore fresh issue and a Rs 400 crore offer for sale. The company is a one-stop supplier for solar structures, fasteners, and transmission hardware, and is entering the wind energy space with a new facility to produce tubular towers. Its global footprint spans over 50 countries. The issue is being managed by JM Financial, ICICI Securities, and IIFL Capital Services . MUFG Intime India (Link Intime) is the registrar. Vidya Wires Copper and aluminum wire manufacturer Vidya Wires plans to raise Rs 320 crore via fresh issue, along with an offer for sale of 1 crore shares. Founded in 1981, the company supplies over 6,400 types of winding and conductivity products to sectors such as power generation, railways, and electric mobility. It intends to expand its manufacturing capacity from 19,680 MT to 37,680 MT annually with a new facility in Narsanda, Gujarat. The IPO is being handled by Pantomath Capital Advisors and IDBI Capital Market Services, with MUFG Intime India (Link Intime) as the registrar. Mangal Electrical Mangal Electrical Industries, a Rajasthan-based transformer and electrical equipment manufacturer, received clearance for a Rs 450 crore IPO, which will be entirely a fresh issue. The company produces CRGO slit coils, transformer laminations, wound cores, and oil-immersed circuit breakers, and also provides EPC services for setting up electrical substations. Systematix Corporate Services is the book-running lead manager, while Bigshare Services is the registrar. These approvals come as India's primary markets continue to see strong interest from both companies looking to raise growth capital and investors keen on gaining exposure to industrial and clean energy themes. Also read | Oswal Pumps sets price band for Rs 1,387 crore IPO ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
2 days ago
- Business
- Economic Times
Kent RO Systems among four firms to win Sebi nod for IPOs
Tired of too many ads? Remove Ads Kent RO Systems Tired of too many ads? Remove Ads Karamtara Engineering Vidya Wires Tired of too many ads? Remove Ads Mangal Electrical India's capital markets regulator Sebi (Securities and Exchange Board of India) has given the green light to initial public offerings of four companies, including water purification giant Kent RO Systems, in a move that underlines the growing momentum in the country's IPO pipeline across manufacturing and energy four companies that received IPO approvals are Kent RO Systems, Vidya Wires, Karamtara Engineering, and Mangal Electrical Industries. Their proposed offerings, spanning a mix of fresh issues and offers for sale, reflect a wide industry spread from water purifiers and kitchen appliances to transformers, specialty wires, and renewable energy RO Systems, a pioneer in India's water purifier industry, has received Sebi approval for a book-built IPO comprising an offer for sale of 1.01 crore equity shares by promoters Sunita Gupta, Mahesh Gupta, and Varun Gupta. The company will not receive any proceeds from the offer.'The object of the offer is to achieve the benefits of listing the equity shares on the stock exchanges,' the company said in its draft red herring in 2007, Kent is credited with bringing reverse osmosis (RO) technology into Indian homes. Its NSF/ANSI 58-certified purifiers were the first in India to meet this U.S.-based national standard for point-of-use RO brand has since expanded into IoT-enabled and zero-water-wastage models, while also foraying into BLDC motor fans, high-speed mixers, and infrared cooktops. Kent operates four manufacturing units and has a wide service network spanning 15,000+ pin codes. JM Financial and Motilal Oswal Investment Advisors are the book running lead managers for the issue, while Kfin Technologies is the Engineering, a manufacturer of products for transmission lines and renewable energy infrastructure, has received approval for a Rs 1,750 crore IPO, which includes a Rs 1,350 crore fresh issue and a Rs 400 crore offer for company is a one-stop supplier for solar structures, fasteners, and transmission hardware, and is entering the wind energy space with a new facility to produce tubular towers. Its global footprint spans over 50 issue is being managed by JM Financial, ICICI Securities, and IIFL Capital Services . MUFG Intime India (Link Intime) is the and aluminum wire manufacturer Vidya Wires plans to raise Rs 320 crore via fresh issue, along with an offer for sale of 1 crore in 1981, the company supplies over 6,400 types of winding and conductivity products to sectors such as power generation, railways, and electric mobility. It intends to expand its manufacturing capacity from 19,680 MT to 37,680 MT annually with a new facility in Narsanda, IPO is being handled by Pantomath Capital Advisors and IDBI Capital Market Services, with MUFG Intime India (Link Intime) as the Electrical Industries, a Rajasthan-based transformer and electrical equipment manufacturer, received clearance for a Rs 450 crore IPO, which will be entirely a fresh company produces CRGO slit coils, transformer laminations, wound cores, and oil-immersed circuit breakers, and also provides EPC services for setting up electrical substations. Systematix Corporate Services is the book-running lead manager, while Bigshare Services is the approvals come as India's primary markets continue to see strong interest from both companies looking to raise growth capital and investors keen on gaining exposure to industrial and clean energy themes.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
