The markets regulator Sebi has given the green light to Capital Small Finance Bank and Jesons Industries, a maker of specialty paint emulsions, to seek cash through initial public offerings (IPOs).
Uma Exports also received the green light from Sebi to launch an initial share sale. According to updates from the markets watchdog, these businesses got the regulator's observation letters between September and November 2021, when they submitted their preliminary IPO papers with Sebi. Sebi's remark entails that it has given the go-ahead to conduct an IPO.
Capital Small Finance Bank's IPO, according to the draught documents, would include a fresh issue of equity shares worth Rs 450 crore and an offer for sale (OFS) of up to 38.40 lakh equity shares.
PI Ventures LLP will sell up to 3.37 lakh equity shares, Amicus Capital Private Equity I LLP will sell up to 6.04 lakh equity shares, Amicus Capital Partners India Fund I will sell up to 70,178 equity shares, Oman India Joint Investment Fund II will sell up to 8.37 lakh equity shares, and other shareholders will sell up to 19.91 lakh equity shares at the OFS. The small finance bank (SFB) intends to use the net profits from the new issuance to boost the bank's Tier-I capital base in order to meet future capital needs.
The Reserve Bank of India gave Capital Small Finance Bank Scheduled Status in February 2017. According to the draught red herring prospectus, Jesons Industries' inaugural share sale would include a fresh issuance of equity shares worth up to Rs 120 crore and an OFS of up to 12,157,000 equity shares by promoter Dhiresh Shashikant Gosalia (DRHP).
Gosalia owns 86.53% of the firm at the moment. A total of 77,000 equity shares have been reserved for workers in the public offering. The Mumbai-based company may contemplate a private issue of up to Rs 24 crore in equity shares. If the pre-IPO placement is successful, the size of the new issue will be lowered. According to market sources, the issuance would be worth between Rs 800-900 crore. The proceeds from the new share offering would be utilized to repay debt and for general corporate purposes to the tune of Rs 90 crore.