Indian companies line up Rs 25,000 crore public offers
25 Feb 2018 11:05 PM IST
New Delhi: The IPO lane seems to get busier as over two dozen companies have lined up initial share sale plans worth Rs 25,000 crore in the coming months, largely to fund their expansion projects and working capital requirements.
Hindustan Aeronautics, ICICI Securities, Barbeque-Nation Hospitality and Flemingo Travel Retail are among the names that plan to launch share-sale offers in the coming months. Most of these companies plan to utilise initial public offer (IPO) proceeds for business expansion as well as working capital requirements, as per the draft papers filed with capital markets regulator Sebi.
Besides, some of the firms believe the listing of equity shares on bourses will enhance their brand name and provide liquidity to existing shareholders. Barbeque-Nation Hospitality, ICICI Securities, Bharat Dynamics and Indian Renewable Energy Development Agency — have secured Sebi's go-ahead this year to float their public offers.
In addition, 20 companies including RITES, Mishra Dhatu Nigam Ltd, Bandhan Bank, IndoStar Capital Finance, Nazara Technologies and Route Mobile are awaiting the regulator's approval to float IPOs.
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