Upcoming IPOs: Dr. Agarwal's and Regreen Excel get SEBI nod to raise funds via public issue

The primary market is all set to witness opening of three new initial public offerings (IPOs) as markets regulator Securities and Exchange Board of India (SEBI) gives its green signal.

Dr. Agarwal's, Casagrand Premier and Regreen Excel EPC are among the companies which received approval from the markets regulator to raise funds via IPO.

Dr. Agarwal's IPO

Dr. Agarwal Health Care, backed by Temasek Holdings and TPG, secured green signal from SEBI on Wednesday, January 8, to proceed with its ₹300 crore IPO. The company had submitted its draft documents to SEBI on September 27, 2024.

The IPO includes a fresh issuance of equity shares worth up to ₹300 crore and an offer for sale (OFS) of up to 69.57 million shares by the promoters and other selling shareholders. The OFS involves substantial stakes from Dr. Amar Agarwal, Dr. Athiya Agarwal, Dr. Adil Agarwal, as well as institutional investors like Hyperion Investments Pte. Ltd and Claymore Investments (Mauritius) Pte. Ltd.

Kotak Mahindra Capital, Morgan Stanley India, Jefferies India, and Motilal Oswal Investment Advisors are the book-running lead managers, with KFin Technologies acting as the registrar for the IPO.

Regreen Excel IPO

Regreen Excel IPO comprises a fresh issue of up to ₹ 3,500 million and an offer for sale aggregating up to 11,450,380 equity shares by the promoter selling shareholders.

The company proposes to utilize the net proceeds from fresh issue towards funding capital expenditure requirements of the company, repayment/pre-payment, in full or in part, of certain borrowings availed by the company, funding margin money requirements for the purpose of availing bank guarantees; and general corporate purposes.

IIFL Securities Limited and ICICI Securities Limited are the Book Running Lead Managers to the issue.

Casagrand Premier IPO

Chennai-based Casagrand Premier has received final observation from the capital markets regulator to raise ₹1100 crore through an initial public offering (IPO).

The company had filed its IPO papers with Sebi on September 19, 2024.

The IPO with a face value of ₹2 per equity share is a mix of fresh issue of up to ₹1,000 crore and an offer for sale of up to ₹100 crore by Promoter Selling Shareholders.

The company, in consultation with the book-running lead managers, may consider a further issue of equity shares through a preferential offer or any other method aggregating up to ₹200 crores, as pre-IPO placement shall not exceed 20% of the size of the fresh issue. If such placement is completed, the fresh issue size will be reduced.

JM Financial Limited, and Motilal Oswal Investment Advisors Limited are the book-running lead managers to the issue and KFin Technologies Limited is the registrar to the offer.