Among the approved offerings, Travelstack Tech is expected to be the largest and most closely watched. The company, which operates the FabHotels platform, plans to raise up to Rs 250 crore through a fresh issue of shares, while existing promoters and investors will sell up to 26.85 crore shares through an offer for sale.
Promoters Vaibhav Aggarwal and Adarssh Mnpuria are among the selling shareholders in the offer for sale, along with investors such as Anupam Mittal, Accel India IV (Mauritius), Global Private Opportunities Private Partners II, Panthera Growth Fund II, PGP India Growth Fund I, Qualcomm Asia Pacific and XTO10X Mauritius.
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The company intends to deploy Rs 135 crore from the fresh issue towards working capital requirements and Rs 45 crore towards repayment or prepayment of borrowings, while the remaining funds will be used for general corporate purposes. Travelstack Tech may also consider a pre-IPO placement of up to Rs 50 crore, which could reduce the size of the fresh issue.
Another company that has received regulatory approval is Tea Post, an organised tea café chain operating in the quick service restaurant segment. The IPO will comprise a fresh issue of up to 1.42 crore equity shares and an offer for sale of up to 1.42 crore shares, making it a fully book-built public issue.
The company plans to utilise the proceeds primarily to open new company-operated tea cafés and for general corporate purposes. Tea Post operates a growing chain of tea cafés serving over 15 varieties of tea along with snacks and is currently the largest organised tea retail chain in Gujarat by store count.The third company receiving Sebi approval is Learnfluence Education, an education services provider that plans to raise Rs 246 crore through a fresh issue, along with an offer for sale of up to 0.4 crore shares.
The issue will be managed by Saffron Capital Advisors, while Cameo Corporate Services will act as the registrar. The company plans to list its shares on both the NSE and BSE.
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