The proposed IPO carries a face value of Re 1 and will consist of a fresh issue of shares worth up to Rs 1,000 crore, along with an offer for sale of up to 88,79,575 equity shares by existing investor shareholders. The issue will also include a reservation portion for eligible employees.
The company may also undertake a pre-IPO placement of up to Rs 200 crore, which, if completed, will lead to a corresponding reduction in the size of the fresh issue. Founded in 2016, Kissht offers digital loans through its mobile application, providing credit for consumption and business needs, positioning itself as a fast, personalised lending platform.
Another company that has secured Sebi’s approval is Alcobrew Distilleries, which plans to raise up to Rs 258.26 crore through a fresh issue, alongside an offer for sale of 1.8 crore shares by a promoter. The company intends to use the proceeds from the fresh issue to fund business expansion, meet working capital requirements and for general corporate purposes.
Alcobrew manufactures and markets alcoholic beverages including whisky, vodka and rum, with brands such as Golfer’s Shot, White & Blue, White Hills and One More, catering to multiple price segments across India.
Textile player Aastha Spintex is also preparing to enter the capital markets with an entirely fresh issue of up to Rs 160 crore, to be conducted through the book-building route. The proceeds will be primarily used to fund the acquisition of Falcon Yarns, along with general corporate requirements. BOI Merchant Bankers and PNB Investment Services are acting as book-running lead managers, while Bigshare Services is the registrar to the issue.
Precision engineering company Indo MIM has received approval for an IPO comprising a fresh issue of equity shares worth Rs 1,000 crore, in addition to an offer for sale of 12.97 crore shares by existing shareholders. The company plans to utilise Rs 720 crore from the fresh issue to repay debt, with the balance earmarked for general corporate purposes. Incorporated in 1996, Indo MIM specialises in manufacturing precision components using metal injection moulding technology.Completing the list is Kusumgar, a Mumbai-based engineered fabrics manufacturer, which plans to raise Rs 650 crore entirely through an offer for sale by promoters. Since there is no fresh issue component, the company will not receive any proceeds from the IPO. Kusumgar manufactures woven, coated and laminated synthetic fabrics used across aerospace and defence, industrial and automotive, and outdoor and lifestyle segments.
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