{"id":5838,"date":"2021-11-25T18:40:13","date_gmt":"2021-11-25T13:10:13","guid":{"rendered":"https:\/\/www.tickertape.in\/blog\/?p=5838"},"modified":"2021-11-25T18:40:14","modified_gmt":"2021-11-25T13:10:14","slug":"sebi-gives-green-signal-to-ipos-of-six-companies","status":"publish","type":"post","link":"https:\/\/www.tickertape.in\/blog\/sebi-gives-green-signal-to-ipos-of-six-companies\/","title":{"rendered":"SEBI Gives Green Signal To IPOs of 6 Companies"},"content":{"rendered":"\n<p><a href=\"https:\/\/www.tickertape.in\/blog\/securities-and-exchange-board-of-india-functions-powers-and-regulations-of-sebi\/?utm_source=blog&amp;utm_medium=article\">SEBI<\/a> gave a green pass to the following companies by approving their draft offer documents:<\/p>\n\n\n\n<ul><li>MedPlus Health Services &#8211; Pharmacy retail chain<\/li><li>RateGain <a href=\"https:\/\/www.tickertape.in\/blog\/effective-money-saving-travel-hacks\/\">Travel<\/a> Technologies &#8211; Travel technology services firm<\/li><li>Fusion Micro Finance &#8211; Microlender<\/li><li>Puranik Builders &#8211; Real estate developer<\/li><li>Prudent Corporate Advisory Services &#8211; Retail <a href=\"https:\/\/www.tickertape.in\/blog\/wealth-management\/\">wealth management<\/a> firm<\/li><li>Tracxn Technologies &#8211; Private market intelligence platform<\/li><\/ul>\n\n\n\n<p>These 6 businesses submitted preliminary <a href=\"https:\/\/www.tickertape.in\/blog\/all-you-need-to-know-about-ipos\/?utm_source=blog&amp;utm_medium=article\">IPO<\/a> papers with <a href=\"https:\/\/www.tickertape.in\/blog\/securities-and-exchange-board-of-india-functions-powers-and-regulations-of-sebi\/\">SEBI<\/a> between August and September and received the observation letters from the regulator between 16 and 18 November.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.tickertape.in\/blog\/sebi-gives-green-signal-to-ipos-of-six-companies\/#IPO-details\" title=\"IPO details\">IPO details<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.tickertape.in\/blog\/sebi-gives-green-signal-to-ipos-of-six-companies\/#MedPlus-Health-Services\" title=\"MedPlus Health Services\">MedPlus Health Services<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.tickertape.in\/blog\/sebi-gives-green-signal-to-ipos-of-six-companies\/#RateGain-Travel-Technologies\" title=\"RateGain Travel Technologies\">RateGain Travel Technologies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.tickertape.in\/blog\/sebi-gives-green-signal-to-ipos-of-six-companies\/#Fusion-Micro-Finance\" title=\"Fusion Micro Finance\">Fusion Micro Finance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.tickertape.in\/blog\/sebi-gives-green-signal-to-ipos-of-six-companies\/#Puranik-Builders\" title=\"Puranik Builders\">Puranik Builders<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.tickertape.in\/blog\/sebi-gives-green-signal-to-ipos-of-six-companies\/#Prudent-Corporate-Advisory-Services\" title=\"Prudent Corporate Advisory Services\">Prudent Corporate Advisory Services<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.tickertape.in\/blog\/sebi-gives-green-signal-to-ipos-of-six-companies\/#Tracxn-Technologies\" title=\"Tracxn Technologies\">Tracxn Technologies<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"IPO-details\"><\/span><strong>IPO details<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"MedPlus-Health-Services\"><\/span><strong>MedPlus Health Services<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><a href=\"https:\/\/www.tickertape.in\/blog\/ipo-investment\/\">IPO<\/a> size &#8211; Rs. 1,639 cr.<\/p>\n\n\n\n<p>The proceeds will be utilised to pay the company&#8217;s subsidiary Optival&#8217;s working capital requirements.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"RateGain-Travel-Technologies\"><\/span><strong>RateGain Travel Technologies<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>IPO size &#8211; Rs. 400 cr.<\/p>\n\n\n\n<p>The proceeds will be used to repay debt owed to Silicon Valley Bank by RateGain UK, one of RateGain\u2019s subsidiaries. They also look forward to paying for the acquisition of Distribution Hospitality Intelligent Systems Company (DHISCO). Further, the money will also be allocated for strategic investments, acquisitions, inorganic growth, technological innovation, <a href=\"https:\/\/www.tickertape.in\/blog\/how-ai-can-help-make-good-investment-decisions\/\">artificial intelligence<\/a>, and other organic development efforts. RateGain also wants to use funds for specific capital equipment for the data centre and other business objectives.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Fusion-Micro-Finance\"><\/span><strong>Fusion Micro Finance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>IPO size &#8211; Rs. 600 cr.<\/p>\n\n\n\n<p>It wants to use the net proceeds of the new issuance to increase the microfinance firm&#8217;s capital base.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Puranik-Builders\"><\/span><strong>Puranik Builders<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>IPO size &#8211; Rs. 510 cr.<\/p>\n\n\n\n<p>The proceeds will be used to prepay or repay all or a portion of certain outstanding borrowings taken from banks and other lenders, and for other general company purposes.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Prudent-Corporate-Advisory-Services\"><\/span><strong>Prudent Corporate Advisory Services<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Entirely an <a href=\"https:\/\/www.tickertape.in\/blog\/offer-for-sale\/?utm_source=blog&amp;utm_medium=article\">offer for sale<\/a> (OFS) of 85.49 lakh <a href=\"https:\/\/www.tickertape.in\/blog\/what-is-equity\/\">equity<\/a> shares.<\/p>\n\n\n\n<p>The company will not receive any profits from the IPO. All proceeds will be received by the selling <a href=\"https:\/\/www.tickertape.in\/blog\/shareholders\/\">shareholders<\/a> in proportion to the offered shares sold by the individuals.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tracxn-Technologies\"><\/span><strong>Tracxn Technologies<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><a href=\"https:\/\/www.tickertape.in\/blog\/offer-for-sale\/\">Offer for sale<\/a> (OFS) of 3.86 cr. <a href=\"https:\/\/www.tickertape.in\/blog\/what-are-equity-shares-meaning-types-features-limitations-and-more\/\">equity shares<\/a> by promoter and investor selling shareholders.<\/p>\n\n\n\n<p>The offer&#8217;s goals are to reap the benefits of listing the shares on stock exchanges and to sell up to 3.86 cr. shares by the selling shareholders.<\/p>\n\n\n\n<p>The six firms&#8217; equity shares are anticipated to get listed on the <a href=\"https:\/\/www.tickertape.in\/stocks\/bse-BSEL?&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">BSE<\/a> and <a href=\"https:\/\/www.tickertape.in\/blog\/national-stock-exchange\/?utm_source=blog&amp;utm_medium=article\">NSE<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are 6 more companies that are all set to raise funds via IPO after receiving SEBI\u2019s approval. Read about them in this article.<\/p>\n","protected":false},"author":54,"featured_media":5711,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[10,1744],"tags":[227,855],"acf":[],"modified_by":"Ayushi Mishra","jetpack_featured_media_url":"https:\/\/www.tickertape.in\/blog\/wp-content\/uploads\/2021\/11\/6.png?wsr","_links":{"self":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/5838"}],"collection":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/users\/54"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/comments?post=5838"}],"version-history":[{"count":1,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/5838\/revisions"}],"predecessor-version":[{"id":5839,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/5838\/revisions\/5839"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media\/5711"}],"wp:attachment":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media?parent=5838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/categories?post=5838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/tags?post=5838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}