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TVS Supply Chain Solutions, Aadhar Housing Finance, three others get SEBI nod for IPO

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After nearly three decades, a company from the TVS group is coming out with an IPO

Five companies, including TVS Supply Chain Solutions and Aadhar Housing Finance Ltd, have received approval from the Securities and Exchange Board of India for their respective initial public offerings.

Landmark Cars Limited, Kids Clinic India and Bikaji Foods International Ltd have also received SEBI approval for IPO.

These companies had filed their preliminary IPO papers with SEBI between January 2021 and January 2022. They obtained SEBI’s “observations” during May 2-5, 2022, as per an update with SEBI.

The issuance of observations implies SEBI’s go-ahead to float IPO. SEBI is yet to issue observations for 41 IPO papers.

After nearly three decades, a company from the TVS group is coming out with an IPO. The Chennai-based TVS Supply Chain Solutions Limited (TVSSCS), a supply chain logistics solution provider, is planning to raise nearly ₹5,000 crore through a market offering. As per its Draft Red Herring Prospectus (DRHP), the IPO consists of fresh issue of equity shares aggregating up to ₹2,000 crore. 

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The company’s existing shareholders, including promoters; Omega TC Holdings; Mahogany Singapore Company PTE. Ltd; Tata Capital Financial Services Ltd and DRSR Logistics Service Pvt Ltd will sell 59.48 million shares in the IPO, according to a draft prospectus.

As per Aadhar Housing Finance’s DRHP, its ₹7,300-crore IPO comprises fresh issuance aggregating up to ₹1,500 crore by the company (fresh issue) and an offer for sale of aggregating up to ₹5,800 crore by BCP Topco VII PTE. Ltd.

Blackstone-promoted Aadhar Housing Finance is the largest affordable housing finance company in the country in terms of asset under management (AUM), as of March 31, 2020.

Landmark Cars’ ₹762-crore IPO comprises fresh issue of equity shares aggregating up to ₹150 crore and an offer for sale of equity shares aggregating up to  ₹612 crore.

Bikaji Foods International IPO is entirely an offer for sale of up to 29,373,984 equity shares. Promoters Shiv Ratan Agarwal and Deepak Agarwal will be offloading up to 25,00,000 shares each as part of the OFS.

The IPO of Kids Clinic India comprises a fresh issue of equity shares aggregating up to ₹300 crore and an offer for sale of up to 13,293,514 shares.

Published on May 09, 2022

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