IPO Frenzy: Four Major Firms Set to Raise Over Rs 6,300 Crore

Four companies—Anthem Biosciences, Aye Finance, BlueStone Jewellery, and GK Energy—have received approval from SEBI for IPOs to collectively raise at least Rs 6,345 crore. Each company has distinct plans for fund utilization, ranging from shareholder sales to capital base augmentation and working capital financing.

Anthem Biosciences, Aye Finance, BlueStone Jewellery, and GK Energy are gearing up to raise a collective Rs 6,345 crore through Initial Public Offerings (IPOs), having secured approval from the markets regulator, SEBI.

The firms, which submitted IPO applications in December, received observations from SEBI between April 1-3, signifying the green light for public share issuance. Anthem Biosciences plans a Rs 3,395-crore IPO, entirely an Offer For Sale (OFS) comprised of shares from promoters and investors, with proceeds going to selling shareholders.

Aye Finance's IPO includes a Rs 885 crore fresh issue and a Rs 565 crore OFS. The capital influx will enhance the non-banking financial company's base. BlueStone Jewellery intends to raise Rs 1,000 crore through a fresh issue and an OFS involving major stakeholders. Pune-based GK Energy will mix fresh issue with OFS, directing funds towards long-term working capital. All IPOs aim for listings on BSE and NSE.

(With inputs from agencies.)