SEBI Approves Key IPOs, Including Nykaa And Jhunjhunwala-Backed Star Health

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SEBI Approves Key IPOs, Including Nykaa And Jhunjhunwala-Backed Star Health
19 Oct 2021
6 min read

News Synopsis

Six companies, including Nykaa, Adani Wilmar, and Star Health & Allied Insurance, have been granted initial share-sale authorization by Sebi. Penna Cement Industries, Latent View Analytics, and Sigachi Industries have been granted authorization by Sebi to seek funds through initial public offerings. These six firms filed preliminary IPO papers with the Securities and Exchange Board of India between May and August. FSN ECommerce Ventures Ltd IPO involves a fresh issue of 525 crores worth of equity shares as well as an offer for sale (OFS) of 43,111,670 equity shares by the promoter and existing shareholders.

According to merchant banking sources, the initial share sale is expected to fetch around $4,000 crore, valuing the firm between USD 5 billion and USD 5.5 billion. Adani Wilmar's proposed IPO will be a new issue of equity shares valued up to Rs 4,500 crore (approximately USD 600 million). Fortune is a significant player in the edible oil industry, selling cooking oils under the Fortune brand. Penna Cement, Star Health and Allied Insurance Company, Latent View Analytics, and Sigachi Industries are also planning initial public offerings. The shares of all six companies will be traded on the BSE and NSE.