IPO Watch: Three Companies Set to Launch IPOs, Sebi Approves
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Exciting news for investors as three companies are all set to launch their Initial Public Offerings (IPOs) soon. The Securities and Exchange Board of India (Sebi) has granted approval to Jyoti CNC Automation Limited, BLS E-Services Limited, and Popular Vehicles and Services Limited to go ahead with their IPOs. These companies had submitted their initial documents to Sebi between August and October, and received the permission letters from Sebi between December 12 and 15.
Here’s a closer look at each company and their IPO plans:
1. Jyoti CNC Automation Limited:
Under its IPO, Jyoti CNC Automation Limited will issue new shares worth βΉ1,000 crore. The company plans to utilize the funds raised from the IPO for loan repayment, long-term working capital requirements, and general corporate purposes. Jyoti CNC Automation is a leading manufacturer of computer numerical control machines and has a strong customer base across various sectors.
2. BLS E-Services Limited:
BLS E-Services Limited will issue 2.41 crore new shares as part of its IPO. Additionally, a portion of the shares will be offered for sale. The funds raised from the IPO will be used to develop new capabilities and strengthen existing platforms. BLS E-Services Limited is a subsidiary of BLS International Services Limited and provides visa services.
3. Popular Vehicles and Services Limited:
Popular Vehicles and Services Limited will issue new shares worth βΉ250 crore in its IPO. Along with the new shares, 1.42 crore shares will be offered for sale. The proceeds from the IPO will be utilized for debt repayment and general corporate purposes. The company operates in the automotive dealership business, primarily dealing with Maruti Suzuki, Honda, JAL, and Tata Motors.
With these upcoming IPOs, investors have a great opportunity to explore new avenues for investment. Stay tuned for more updates on IPOs and their market performance.
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Note: The shares of Jyoti CNC Automation Limited and Popular Vehicles and Services Limited will be listed on the BSE and NSE, while BLS E-Services Limited is yet to announce the stock exchanges on which its shares will be listed.
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