 "Macleods Pharma, TBO Tek, Suraj Estate Developers get Sebi's nod for IPOs")
Three companies -- Macleods Pharmaceuticals, travel services provider TBO Tek and Suraj Estate Developers -- have received capital markets regulator Sebi's go ahead to raise funds through initial public offerings (IPOs).
These firms, which filed their preliminary IPO papers with Sebi between December 2021 and March 2022, obtained Sebi's observations during May 17-20, an update with Sebi showed on Monday.
In Sebi's parlance, its observation implies its go-ahead to launch IPO.
Going by the draft papers, Macleods Pharmaceuticals' initial share sale is entirely an Offer For Sale (OFS) of up to 6.05 crore shares by promoters.
According to merchant banking sources, the size of the IPO is expected to be Rs 5,000 crore.
Macleods is engaged in developing, manufacturing and marketing a wide range of formulations across several major therapeutic areas including anti-infectives, cardiovascular, anti-diabetic, dermatology, and hormone treatment.
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TBO Tek is planning to mop up Rs 2,100 crore through its IPO. The public issue comprises fresh issue of equity shares aggregating up to Rs 900 crore and an OFS aggregating up to Rs 1,200 crore by promoters and existing investors.
The company is a new age travel distribution company that provides entire global travel inventory under one roof with very limited or no additional effort for buyers and suppliers.
Suraj Estate Developers is planning to raise Rs 500 crore through its IPO. The funds will be raised through fresh issuance of equity shares.
The company has been involved in the real estate business since 1986 and develops real estate across residential and commercial sectors in the South Central Mumbai region.
Shares of these three companies will be listed on the BSE and NSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)