8 months ago
Seven Companies Get SEBI Nod for IPOs
Seven companies in India, including Yashoda Healthcare, Fusion CX, and Turtlemint, have received approval from SEBI to launch their IPOs.
An IPO is when a company sells shares to the public for the first time.
These companies plan to raise a lot of money, over Rs 6,000 crore in total.
They filed their plans with SEBI between May and September 2023 and got the approval in December.
Each company has different plans for how they will use the money, like paying off debt, buying new equipment, or opening new stores.
Turtlemint, for example, helps people buy and manage insurance policies and has sold over 1.6 crore policies.
All these companies will list their shares on the BSE and NSE, which are the big stock markets in India.
Seven companies, including Yashoda Healthcare, Fusion CX, and Turtlemint, received SEBI's approval for IPOs.
The companies plan to raise over Rs 6,000 crore in total through their IPOs.
Turtlemint, an insurtech company, has sold 1.6 crore insurance policies through its network of over 5 lakh advisers.
Yashoda Healthcare's IPO size is expected to be between Rs 3,000 and Rs 4,000 crore.
All seven companies will list their shares on the BSE and NSE.
- Who
- Seven companies including Yashoda Healthcare, Fusion CX, Orient Cables, Turtlemint, RSB Retail India, SFC Environmental Technologies, and Lohia Corp
- What
- Received SEBI's approval for IPOs
- Where
- India
- When
- Week of December 8-12, 2023
- Why
- To raise funds through initial public offerings
Key facts
- Companies Approved
- Yashoda Healthcare, Fusion CX, Orient Cables, Turtlemint, RSB Retail India, SFC Environmental Technologies, Lohia Corp
- Total Expected Fundraising
- Over Rs 6,000 crore
- SEBI Observation Period
- December 8-12, 2023
- Yashoda Healthcare IPO Size
- Rs 3,000-4,000 crore
- Turtlemint Founded
- 2015
- Turtlemint Policies Sold
- 1.6 crore
- Turtlemint Advisers
- Over 5 lakh
- Fusion CX IPO Size
- Rs 1,000 crore
- Orient Cables IPO Size
- Rs 700 crore
- RSB Retail India IPO Size
- Up to Rs 500 crore
- SFC Environmental IPO Size
- Rs 150 crore fresh issue
- Lohia Corp IPO Type
- OFS of 4.22 crore equity shares
- Listing Platforms
- BSE and NSE
