The Securities and Exchange Board of India (Sebi), a market regulator, has given Clean Max Enviro Energy Solutions and NephroPlus permission to raise money through an initial public offering (IPO).
Future IPOs: The Securities and Exchange Board of India (Sebi), a capital markets regulator, has given Clean Max Enviro Energy Solutions and NephroPlus permission to raise money through initial public offerings (IPOs).Details of Clean Max Enviro Energy Solutions' IPO
Through an IPO, Clean Max Enviro Energy Solutions hopes to raise more than ₹5,200 crore. With a face value of ₹1, the IPO consists of a combination of newly issued shares up to ₹1,500 crore and an offer-for-sale of up to ₹3,700 crore by investors and promoters selling shareholders.
A subscription reservation by qualified employees is also included in the offer, and qualified employees who bid in the employee reservation section will receive a discount.
Shareholders may sell up to ₹321.37 crore from Kuldeep Pratap Jain, up to ₹1,970.83 crore from BGTF One Holdings (DIFC) Limited, up to ₹225.61 crore from KEMPINC LLP, up to ₹991.94 crore from Augment India I Holdings, LLC, and up to ₹190.25 crore from DSDG Holdings APS.
The proceeds from the new ₹1,125 crore issue would be used for general corporate purposes as well as the full or partial repayment of some outstanding borrowings of the firm and/or its subsidiaries.
Shareholders may sell up to ₹321.37 crore from Kuldeep Pratap Jain, up to ₹1,970.83 crore from BGTF One Holdings (DIFC) Limited, up to ₹225.61 crore from KEMPINC LLP, up to ₹991.94 crore from Augment India I Holdings, LLC, and up to ₹190.25 crore from DSDG Holdings APS.
The proceeds from the new ₹1,125 crore issue would be used for general corporate purposes as well as the full or partial repayment of some outstanding borrowings of the firm and/or its subsidiaries.
The corporation may contemplate issuing further securities totaling up to ₹300 crore after consulting with the book-running lead managers. If done, the pre-IPO placement cannot account for more than 20% of the new issue's total size. The size of the new issue will be decreased if such positioning is finished.
The offer is being made through the book-building procedure, with qualified institutional buyers receiving no more than 50% of the net offer and non-institutional and retail individual bidders receiving no less than 15% and 35% of the net offer, respectively.
The offer is being made through the book-building procedure, with qualified institutional buyers receiving no more than 50% of the net offer and non-institutional and retail individual bidders receiving no less than 15% and 35% of the net offer, respectively.
Details of NephroPlus's IPO
According to the draft red herring prospectus (DRHP), the Hyderabad-based NephroPlus's proposed IPO consists of a fresh issue of ₹353.4 crore and an offer-for-sale of 1.27 crore equity shares by the selling shareholders.
NephroPlus intends to use the net proceeds of the new issue for capital expenditures of ₹129.1 crore for the opening of new dialysis clinics in India, ₹136 crore for the pre-payment or scheduled repayment of some of the company's borrowings, and the remaining amount for general business reasons.
Founded in 2009, NephroPlus recently declared that it had surpassed 500 dialysis facilities worldwide, entering the ranks of leading international dialysis providers including Fresenius Medical Care, DaVita, and Diaverum. It serves around 33,000 people a month and works in five different countries.
According to the draft red herring prospectus (DRHP), the Hyderabad-based NephroPlus's proposed IPO consists of a fresh issue of ₹353.4 crore and an offer-for-sale of 1.27 crore equity shares by the selling shareholders.
NephroPlus intends to use the net proceeds of the new issue for capital expenditures of ₹129.1 crore for the opening of new dialysis clinics in India, ₹136 crore for the pre-payment or scheduled repayment of some of the company's borrowings, and the remaining amount for general business reasons.
Founded in 2009, NephroPlus recently declared that it had surpassed 500 dialysis facilities worldwide, entering the ranks of leading international dialysis providers including Fresenius Medical Care, DaVita, and Diaverum. It serves around 33,000 people a month and works in five different countries.
The company's promoters include Vikram Vuppala, BVP (Bessemer Venture Partners) Trust, Edoras Investment Holdings Pte. Ltd., Healthcare Parent Limited (HPL), Investcorp Growth Opportunity Fund (IGOF), and Investcorp Private Equity Fund II (IPEF II).
Investcorp Private Equity Fund II, Healthcare Parent Limited, Investcorp Growth Opportunity Fund, and Edoras Investment Holdings Pte. Ltd. are among the promoter selling shareholders in the OFS. Other selling shareholders include Investcorp India Private Equity Opportunity Limited, International Finance Corporation, 360 One Special Opportunities Fund - Series 9, and 360 One Special Opportunities Fund - Series 10.
Investcorp Private Equity Fund II, Healthcare Parent Limited, Investcorp Growth Opportunity Fund, and Edoras Investment Holdings Pte. Ltd. are among the promoter selling shareholders in the OFS. Other selling shareholders include Investcorp India Private Equity Opportunity Limited, International Finance Corporation, 360 One Special Opportunities Fund - Series 9, and 360 One Special Opportunities Fund - Series 10.
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