SEBI Approves IPO Plans for Lenskart, Wakefit, and Four More Companies
SEBI Approves IPO Plans for Lenskart, Wakefit, and Four More Companies
SEBI approves six upcoming IPOs, including Lenskart Solutions, Wakefit Innovations, and Waterways Leisure Tourism. See which papers got notes and when listings may begin.
Six initial public offerings (IPOs) have been approved by SEBI to proceed with their plans, including Lenskart Solutions, Wakefit Innovations, Waterways Leisure Tourism, and Tenneco Clean Air India. The IPOs of Lamtuf and Shree Ram Twistex were also approved by the capital markets watchdog.
According to the processing status of draft offer documents released on October 6, the market regulator had sent out observation letters on the draft papers of Waterways Leisure Tourism, Shree Ram Twistex, and Lamtuf on September 26. On the other hand, Lenskart Solutions, Wakefit Innovations, and Tenneco Clean Air India received observation letters on their IPO papers on October 3. The company can start its initial public offering (IPO) within the next year after receiving an observation letter.
The eyewear company Lenskart Solutions, backed by SoftBank and Kedaara Capital, submitted draft documents to SEBI in July of this year. The company plans to raise Rs 2,150 crore through its new issue, and investors and promoters will sell 13.22 crore equity shares through an offer-for-sale (OFS).
In addition to the promoters, selling shareholders in the Lenskart OFS include SVF II Lightbulb (Cayman), owned by SoftBank, Schroders Capital, PI Opportunities Fund, which is backed by Azim Premji, Macritchie Investments, Kedaara Capital, and Alpha Wave Ventures. As part of the fresh issue component, the omnichannel eyewear retailer based in Gurugram might also think about raising Rs 430 crore in a pre-IPO round.
Wakefit Innovations, a sleep and home solutions startup supported by Peak XV Partners, submitted its draft red herring prospectus (DRHP) to the regulator in June of this year to raise Rs 468.2 crore through a new share offering. Additionally, several investors, including Peak XV Partners, Redwood Trust, Verlinvest SA, Investcorp, SAI Global Fund, and Paramark, along with promoters Ankit Garg and Chaitanya Ramalingegowda, will be selling up to 5.8 crore equity shares through an OFS.
Before launching the IPO, the D2C home and furnishings company based in Bengaluru may also raise Rs 93.64 crore. Waterways Leisure Tourism, the operator of Cordelia Cruises in Mumbai, has proposed to raise Rs 727 crore through a completely new share offering that does not include an offer-for-sale (OFS) component. In June of this year, the company submitted its initial public offering (IPO) documents to the regulatory body.
Tenneco Clean Air India, a US-based automotive component manufacturer owned by the Tenneco Group, filed preliminary papers with SEBI in June and plans to raise to Rs 3,000 crore through an initial public offering (IPO). There will be no new issue component to the IPO; it will only consist of an offer-for-sale made by promoter Tenneco Mauritius Holdings.
Shree Ram Twistex, a cotton yarn manufacturer based in Gujarat, has suggested using an initial public offering (IPO) to raise 1.06 crore new shares. In June, it submitted draft documents for its IPO to SEBI. Lamtuf, a Hyderabad-based manufacturer of densified wood laminates, epoxy, and phenolics, filed its draft red herring prospectus (DRHP) with the capital markets regulator in July of this year. The company plans to raise money through both OFS components and a new issue. The promoters intend to sell up to 20 lakh shares through OFS, while the company plans to issue one crore new shares.
In the meantime, SEBI has postponed issuing its comments on the draft offer document from Kanodia Cement. The cement company based in Uttar Pradesh submitted its DRHP to the regulator in May of this year to raise money through an initial public offering (IPO), which will consist solely of promoters offering 1.49 crore equity shares for sale.
