Six firms have got approval from the Securities and Exchange Board of India to raise funds via initial public offerings (IPOs).
These firms are PB Fintech Ltd, ESAF Small Finance Bank, Sapphire Foods India, Anand Rathi Wealth, HP Adhesives and Tarsons Products Ltd.
The IPO of PB Fintech, the owner of online platform Policybazaar and Paisabazaar, consists of a fresh issue of Rs 3750 crore and an offer for sale (OFS) of Rs 2267.50 crore by its existing shareholders and promoters.
The OFS comprises sale of up to Rs 1875 crore by SVF Python II (Cayman), Rs 250 crore by Yashish Dahiya, Rs 95 crore by Alok Bansal, Rs 27.50 crore by Founder United Trust, Rs 12.50 crore by Shikha Dahiya and Rs 7.50 crore by Rajendra Singh Kuhar.
The firm is India’s largest online platform for insurance and lending products leveraging the power of technology, data and innovation. It provides convenient access to insurance, credit and other financial products and aims to create awareness amongst Indian households about the financial impact of death, disease and damage.
ESAF Small Finance Bank IPO consists of a fresh issue of Rs 800 crore and an OFS of Rs 197.78 crore by its existing promoters and shareholders.
The OFS comprises sale of up to 21.33 crore by PNB Metlife India Insurance Company, Rs 17.46 crore by Bajaj Allianz Life Insurance Ltd, up to Rs 87 crore by PI Ventures LLP and up to Rs 2.60 million by John Chakola.
Sapphire Foods India IPO is a pure OFS of 17.57 million shares by existing shareholders and promoters.
The OFS comprises up to 8.50 lakh shares by QSR Management Trust, up to 5.57 million shares by Sapphire Foods Mauritius Ltd, up to 4.85 million shares by WWD Ruby Ltd, up to 3.96 million by Amethyst Pvt Ltd, up to 80169 shares by AAJV Investment Trust, up to 1.62 million shares by Edelweiss Crossover Opportunities Fund and up to 6.46 lakh shares by Edelweiss Crossover Opportunities Fund Series II.
Sapphire Foods is the largest franchisee of Yum Brands in the Indian subcontinent, and is backed by marquee investors such as Samara Capital, Goldman Sachs, CX Partners and Edelweiss. The franchisee arrangement with Yum allows the firm to operate on a non-exclusive basis, under the KFC, Pizza Hut and Taco Bell brand in various states in India, across Sri Lanka and Maldives.
Anand Rathi Wealth IPO consists of a pure offer for sale of 12 million shares by its existing shareholders and promoters.
It consists of 9.29 million shares by Anand Rathi Financial Services Ltd (ARFSL), up to 3.75 lakh each by Anand Rathi, Pradeep Gupta, Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Family Trust, Feroze Azeez, up to 90000 shares by Jugal Mantri.
Anand Rathi Wealth is one of the leading non-bank wealth solutions firms in India and has been ranked amongst the top three non-bank mutual fund distributors in India by gross commission earned in Fiscal 2020.
Tarsons Products Ltd IPO consists of a fresh issue of Rs 150 crore and an offer for sale of upto 13.20 million shares by existing shareholders and promoters. The OFS comprises upto 3.90 lakh shares by Sanjive Sehgal, upto 3.10 lakh shares by Rohan Sehgal and upto 12.50 million shares or 24.5% stake by Clear Vision Investment Holdings Pte Ltd. Currently, Sanjive Sehgal and Rohan Sehgal hold 29.16% and 21.81% stake, respectively, while Clear Vision Investment has 49% stake in the firm.
The firm manufactures a range of quality labware products which helps advance scientific discovery and improve healthcare As of Mar 2021, it had a diversified product portfolio with over 1,700 SKUs across 300 products.
HP Adhesives IPO comprises fresh issuance of 41.40 lakh equity shares and an offer of sale of 4,57,200 equity shares by promoter Anjana Haresh Motwani.HP Adhesives manufactures a wide range of consumer adhesives and sealants products such as PVC, solvent cement, synthetic rubber adhesive, PVA adhesives, silicone sealant, acrylic sealant, gasket shellac, other sealants, and PVC pipe lubricant.