Four More IPOs Aiming To Raise Rs 15,000 Crore.
Mumbai : Securities and Exchange Board of India has approved confidential draft red herring prospectus filing by hotel room aggregator Oyo Rooms' parent Orvael Stays for initial public offering. Sebi also approved IPO proposals by Truhome Finance, Advanta Enterprises, Veegaland Developers and Mehta Hitech Industries. The five IPOs combined aim to raise close to Rs 15,000 crore in total.
Oyo's public issue is expected to raise Rs 6,650 crore to fund debt payment and funding organic and inorganic growth initiatives. Truhome Finance formerly known as Shriram Housing Finance plans to raise Rs 3,000 crore with Rs 1500 crore fresh issue and similar amount as of Rs 1500 crore through an offer for sale by promoter selling shareholder, Mango Crest Investment. Truhome Finance was acquired in December 2024 by New York-based global private equity firm, Warburg Pincus.
Advanta Enterprises, the global seed business of UPL formerly United Phosphorus Limited is expected to raise close to USD 500 million through an offer for sale of over 3.61 crore shares by UPL and two other investor shareholders.
Veegaland Developers, part of the V-Guard group aims to raise Rs 250 crore through a fresh issue to funds expansion plans. Mehta Hitech Industries IPO is an offer for sale of 6.2 million equity shares. The capital raised is intended to fund civil construction work and acquire equipment for their new manufacturing facility at Sanand GIDC in Gujarat. The Ahmedabad-based heavy machinery manufacturer specializes in CNC routers, fiber/CO2 lasers, and digital printers.
