ASK Car, ESAF Microscopic Finance Bank and Cello World bear bought approval from the market regulator Securities and Alternate Board of India (SEBI), to head forward with the fundraising plans by process of IPO.
The Sebi issued commentary letters on all three draft crimson herring prospectus (DRHP) on October 9, as per the processing repute of draft provide paperwork published by the regulator.
In Sebi's parlance, the scenario of an commentary letter ability the IPO papers filed by the firm bear been approved and the firm can start the IPO.
ASK Car
Brake-shoe and progressed braking programs maker ASK Car, which filed the draft papers on June 12 this 365 days, is planning to contrivance reduction out with the IPO of two.95 crore equity shares comprising handiest an provide-for-sale (OFS).
Promoters Kuldip Singh Rathee and Vijay Rathee often is the marketing shareholders in the OFS, that ability your entire scenario proceeds will meander to promoters.
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ASK, which is the most important manufacturer of brake-shoe and progressed braking programs for 2-wheelers in India with a market share of roughly 50 percent in FY22 in terms of production quantity for fresh instruments producers (OEMs) and the branded self sustaining aftermarket is 100% owned by the Rathee household.
The firm provides products to all of the cease six two-wheeler OEMs, including Hero MotoCorp, Honda Bike and Scooter India, Bajaj Auto, TVS Motor, and Suzuki Bike India.
JM Financial, Axis Capital, ICICI Securities and IIFL Securities are the guide-running lead managers to the scenario.
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ESAF Microscopic Finance Bank
ESAF Microscopic Finance Bank, which has refiled IPO papers in July this 365 days, intends to mop up Rs 629.04 crore by process of public scenario. The IPO contains a fresh issuance of shares rate Rs 486.74 crore by the firm and an OFS of Rs 142.3 crore by promoting shareholders.
ESAF Financial Holdings (corporate promoter), PNB MetLife India Insurance Company, and Bajaj Allianz Life Insurance Company are the marketing shareholders in the OFS.
The Kerala-based tiny finance bank will utilise the secure fresh scenario proceeds to elongate the Tier–I capital immoral to meet its future capital requirements.
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Promoters shield 74.43 percent shares in ESAF, and the stability 25.57 percent shares are held by public shareholders including PNB MetLife India Insurance Company, Muthoot Finance, Bajaj Allianz Life Insurance Company, PI Ventures LLP, and ICICI Lombard Linked earlier Insurance Company.
Earlier, the bank had filed DRHP for its Rs 997.78-crore IPO in July 2021.
ICICI Securities, DAM Capital Advisors, and Nuvama Wealth Administration are the merchant bankers on the scenario.
Cello World
Mumbai-based shopper products firm Cello World filed draft papers in August 2023, to mobilise Rs 1,750 crore by process of an preliminary public offering.
The public scenario consists of handiest an provide-for-sale by the marketing shareholders including promoters Pradeep Ghisulal Rathod, Pankaj Ghisulal Rathod, and Gaurav Pradeep Rathod.
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This implies the firm will no longer receive any money in the course of the general public scenario and the entire funds, barring IPO payments, will meander to the promoters.
With 13 manufacturing products and services in India, the agency claimed to be the main entity in the consumerware market in India with a presence in shopper houseware, writing instruments and stationery, and moulded furnishings and allied products categories. It's at this time establishing a glassware manufacturing facility in Rajasthan.
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For the time being, it is 100% owned by the Rathod household.
Provider provider bankers appointed for the scenario are Kotak Mahindra Capital Company, ICICI Securities, IIFL Securities, JM Financial, and Motilal Oswal Funding Advisors.
Hyperlink Intime India is the registrar for all three public concerns.
