Collect money for investment: 3 companies from different sectors will bring IPO; This includes online auto platforms Cartrade, Penna Cement and Devyani International.

0

 

Philippine 1

There is good news for investors. Market regulator SEBI has 3 more companies filing applications for IPO. These include Penna Cement, Car Trade Tech, and Devyani International. Their IPOs will be launched soon after approval from SEBI. In such a situation, there will be a better investment opportunity for the investors.

The stock market fluctuates due to the Corona epidemic, but companies are ready to raise funds in the primary market. After getting approval from SEBI, returns will be fixed for both investors and the company in terms of market sentiment.

Now tell you what is the business of the three companies and how much they are preparing to raise funds…

1. Online car selling company Car Trade Tech (CarTrade.com) has filed an application with SEBI for 2 thousand crore rupees. The company has investments in Temasek, Warburg Pincus, and JP Morgan. If SEBI approves the IPO, CarTrade will be the first company to do so. The company’s direct competition is with Droom, cars24, Quikr, Olx, and Mahindra First Choice Wheels.

2. Hyderabad-based Penna Cement Industries has filed a draft Red Herring Prospectus (DRHP) for Rs 1,550 crore through an IPO. Under this, the company will issue fresh shares worth Rs 1,300 crore and the promoters will sell shares worth Rs 250 crore in the offer for sale. Funds from the IPO will be used for debt payments and general corporate functions.

The company’s revenue from operations in the financial year 2020-21 was Rs 2,476 crore, EBITDA was Rs 479 crore and profit was Rs 152 crore. Edelweiss Financial Services Limited, Axis Capital Limited, ICICI Securities Limited, JM Financial Limited, and Yes Securities (India) Limited have been appointed as investment bankers.

3. Devyani International to launch IPO for Rs 1,400 crore. For this, Draft Red Herring Prospectus (DRHP) has been filed with the market regulator SEBI. The IPO will be issued with a fresh share of Rs 400 crore and the promoters will issue 12.5 crore equity shares of the company through Offer for Sale.

Devyani International is the largest franchisee company of Pizza Hut, KFC, and Costa Coffee in India. Kotak Mahindra Capital, Edelweiss Financial Services, CLSA, and Motilal Oswal have been appointed their vestment bankers for the IPO. The company is PepsiCo’s largest bottler in India. Its business spans from beer, cold drinks, QSR, milk, ice cream, healthcare to real estate and education sectors.

Also, read these

LEAVE A REPLY

Please enter your comment!
Please enter your name here