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Ascent-backed Skanray, Everstone-backed SJS get greenlight to raise money via IPO
Photo Credit: VCCircle

SJS Enterprises Ltd and Skanray Technologies Ltd have received approval from the capital market regulator to launch initial public offerings (IPOs).

SJS Enterprises filed papers on 28 July and Skanray Technologies on 27 June.

SJS Enterprises plans to raise Rs 800 crore. The IPO consists of a pure offer for sale of Rs 688 crore by Evergraph Holdings Pte, a subsidiary of Singapore-based private equity firm Everstone Capital, and Rs 112 crore by KA Joseph. Axis Capital, Edelweiss Financial Services and IIFL Securities are the book lead managers to the issue.

Medical devices manufacturer Skanray Technologies is looking to raise Rs 400 crore in fresh capital, as well as a secondary share sale, wherein its promoters and existing private equity investor Ascent Capital are expected to sell a part of their stake.

The Mysuru-based firm, which was founded by Vishwaprasad Alwa in 2007, manufactures medical equipment, including patient monitoring systems, high-frequency X-ray devices, ventilators and critical care devices. It operates two US Food and Drug Administration-approved manufacturing facilities in Mysuru, and one in Bologna, Italy.

On 8 October, VCCircle reported that digital payments firm MobiKwik, which had filed its draft papers for an IPO worth Rs 1,900 crore in July, had received an approval.

MobiKwik issue comprises a fresh issue of Rs 1,500 crore and an offer for sale of Rs 400 crore by its existing promoters and shareholders.

The offer for sale consists of up to Rs 9.98 crore by American Express Travel Related Services, Rs 68.98 crore by Bajaj Finance, Rs 20.88 crore by Sequoia Capital India Investment Holdings III, Rs 74.11 crore by Sequoia Capital India Investments IV, Rs 113.33 crore by Bipin Preet Singh, Rs 11.48 crore by Cisco Systems, Rs 24.41 crore by Tree Line Asia Master Fund Pte and Rs 78.82 crore by Upasana Rupkrishan Taku.

ICICI Securities, BNP Paribas, Credit Suisse, IIFL Securities and Jefferies India are the book running managers to the issue.

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