Green Light for IPOs: Four Companies Get Sebi Nod

Four companies, including Integris Medtech and Appl Containers, have gained Sebi approval for IPOs. These firms, which filed in late 2022, have various plans for the proceeds, such as debt repayment and expansion. Integris Medtech seeks a Rs 11,000-13,000 crore valuation, while Alpine Texworld and Anjali Labtech also plan significant fund mobilization.

In a significant move, four companies, including Integris Medtech and Appl Containers, have received the Securities and Exchange Board of India's (Sebi) approval to launch initial public offerings (IPOs). This clearance enables them to move forward with raising funds in the capital market, as indicated by the latest data from the markets regulator.

Integris Medtech, backed by private equity firm Everstone Capital, plans an IPO to float new equity shares worth Rs 925 crore. Additionally, promoters will offer 2.16 crore equity shares for sale. This endeavor aims for a company valuation between Rs 11,000 crore and Rs 13,000 crore. Proceeds will address debt obligations and support general corporate functions.

Other companies like Appl Containers, Alpine Texworld, and Anjali Labtech have laid out their unique strategies for fund utilization from the IPOs. Appl Containers will allocate funds to working capital and debt repayment, while Alpine Texworld focuses on expanding manufacturing capabilities. These companies are gearing up to list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).