Market regulator SEBI has given permission to five companies including Bajaj Housing Finance and Manba Finance to launch IPO. According to the information provided by SEBI, the companies that have received approval to launch IPO include Bajaj Housing Finance, Manba Finance, apart from Bazaar Style Retail, Diffusion Engineers Limited and Deepak Builders and Engineers India.
According to SEBI’s ‘update’, five companies that filed IPO related documents between March and June have received regulatory observation letters between July 30 and August 5. Getting an observation letter means approval to issue an IPO.
These companies got approval to bring IPO
Bajaj Housing Finance IPO
According to the documents, Bajaj Housing Finance’s Rs 7,000 crore IPO will include new equity shares worth up to Rs 4,000 crore and an offer for sale (OFS) of equity shares worth Rs 3,000 crore by parent company Bajaj Finance. This share sale is being done to comply with the rules of the Reserve Bank of India, under which upper level non-banking financial companies are required to be listed on the stock markets by September 2025.
Manba Finance IPO
The proposed IPO of Manba Finance will be a completely fresh IPO of 1.26 crore shares and there will be no OFS. Currently, promoters hold 100 per cent stake in Maharashtra-based Manba Finance.
Baazar Style Retail IPO
The IPO of Bazaar Style Retail is a mix of fresh shares worth Rs 148 crore and OFS of 1.68 crore shares by promoter group entities and other shareholders.
Diffusion Engineers IPO
Diffusion Engineers IPO is an entirely fresh IPO of 98.5 lakh equity shares.
Deepak Builders & Engineers IPO
Deepak Builders and Engineers India’s IPO will see the issuance of 1.2 crore new shares and a sale offer of 24 lakh equity shares by the promoters. The shares of these companies are proposed to be listed on BSE and NSE.
Apart from this, SEBI returned the draft documents related to the IPO of Santhan Textiles Limited on July 31. Along with this, SEBI has lifted the ban on the proposed initial share sale of Rs 2,200 crore of SK Finance.
