Capital markets regulator Sebi has approved the public offers of five companies, but also returned the offer document of Sanathan Textiles. The approved IPOs include that of Manba Finance, Baazar Style, Deepak Builders, Diffusion Engineers and Bajaj Housing Finance.
Bajaj Housing Finance (BHFL), which had filed its draft prospectus in June this year, is seeking to launch a Rs 7,000 crore initial public offering (IPO). The public issue will comprise a fresh issue of equity shares of up to Rs 4,000 crore and an offer for sale (OFS) of up to Rs 3,000 crore.
BHFL is part of the Bajaj Group with Bajaj Finance Ltd and Bajaj Finserv Ltd as its promoters. The company is a non-deposit taking housing finance company (HFC) and has been registered with the National Housing Bank (NHB) since September 24, 2015. It is engaged in mortgage lending since the financial year 2017-18.
Manba Finance, an NBFC-BL providing financial solutions for auto loans, used cars, small business loans, filed a draft red herring prospectus with Sebi in March this year.
The IPO is completely a fresh equity issue of 1.25 crore shares with no offer for sale (OFS) segment.
The company is an NBFC-BL providing financial solutions for auto loans, small business loans and personal Loans with an AUM (assets under management) size of more than Rs 800 crore as on December 2023.
Kolkata-based Baazar Style Retail, which is backed by ace investor Rekha Rakesh Jhunjhunwala, has filed its prospectus with Sebi in March this year.
The issue is a combination of a fresh equity sale worth Rs 185 crore and an (OFS) of 1.68 crore shares by promoters and other selling shareholders.
Incorporated in 2013-14, Bazaar Style Retail is one of the leading players in the value retail market in West Bengal and Odisha. Additionally, its other core and focus markets include Assam, Bihar, Jharkhand, Andhra Pradesh, Tripura, Uttar Pradesh and Chhattisgarh.
Meanwhile, the IPO of Deepak Builders and Engineers is a combination of 1.2 crore fresh issue of equity shares and an OFS of 24 lakh equity shares by promoters — Deepak Kumar Singal and Sunita Singal.
Deepak Builders & Engineers India is an integrated engineering and construction company, specialising in execution and construction of administrative & institutional buildings, hospitals and medical colleges, industrial buildings, historical memorial complex, stadiums and sports complex, and residential complex.
The IPO of Diffusion Engineers, with a face value of Rs 10 each, is a complete fresh equity sale of 98.5 lakh shares. The company is engaged in the business of providing engineering solutions to customers in domestic and international markets.
