December 20, 2021
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The SEBI on December 16-17, gave Green Signal to three initial public offerings of Le Travenues Technology, which operates travel platform Ixigo, food and beverage major Keventer Agro, and cardiac stent maker Sahajanand Medical Technologies.
Le Travenues Technology, Keventer Agro and Sahajanand Medical had filed their IPO papers on August 13, August 10 and September 29, respectively
Sahajanand Medical Technologies’ initial public offer consists of a fresh issue of equity shares worth Rs 410.33 crore and an offer-for-sale of equity shares worth Rs 1,089.67 crore.
Through the OFS, Samara Capital Markets Holding will sell shares worth Rs 635.56 crore and Nhpea Sparkle Holdings B.V will offload Rs 320.36 crore worth of shares.Currently, Samara Capital holds 36.59 percent stake in the company and NHPEA Sparkle Holding BV owns 18.44 percent stake.
The proceeds from the fresh issue will be utilised to pare debt & to fund the working capital requirements of the company’s indirect foreign subsidiary
Le Travenues Technology( Ixigo) is going to raise Rs 1,600 crore through the IPO, which comprises a fresh issue of shares of Rs 750 crore and an offer for sale of Rs 850 crore.
In the course of the OFS, Saif Partners India IV will offload shares worth Rs 550 crore, Micromax Informatics will sell shares for Rs 200 crore and Aloke Bajpai and Rajnish Kumar will divest stakes worth Rs 50 crore each.
Currently, SAIF Partners holds 23.97 per cent in the company, Micromax 7.61 per cent, Aloke Bajpai 9.18 per cent and Rajnish Kumar 8.79 per cent stake in the firm.
The proceeds from the fresh issue will be used to fund the company’s organic and inorganic growth initiatives and for general corporate purposes.
Keventer Agro has planned for fresh issuance of equity shares worth Rs 350 crore and an offer-for-sale of 10,767,664 equity shares
The proceeds of the fresh issuance will be used to retire debt and to fund incremental capital expenditure requirements of the company. The company might consider a pre-IPO placement of equity shares aggregating up to Rs 185 crore, and if it is undertaken, the fresh issue size will be reduced.
Wait for detailed discussions on our IPO pages
