Jewellery etailer BlueStone and Elevation Capital-backed Aye Finance on Wednesday received the market regulator's approval to raise funds through initial public offerings (IPO).
Both companies filed their preliminary IPO papers with the Securities and Exchange Board of India (Sebi) in December.
BlueStone's IPO comprises a fresh issue of shares worth Rs 1,000 crore and an offer-for-sale (OFS) of 2.4 crore equity shares by selling shareholders, according to the draft papers.
Those selling shares through the OFS are Kalaari Capital Partners II, LLC, Saama Capital II, Sunil Kant Munjal (and other partners of Hero Enterprise Partner Ventures) and other selling shareholders.
ET reported on December 13 about the IPO, which sources said would be at a valuation of Rs 12,000-13,000 crore, a more than 50% jump from its last fundraising from the private market. In August, the company closed a funding round of Rs 900 crore at a $970 million valuation.
Proceeds from the fresh issue to the extent of Rs 750 crore will be used to fund its working capital requirements and general corporate purposes.
The proposed IPO of non-banking financial company ( NBFC) Aye Finance will be a combination of a fresh issue of shares worth Rs 885 crore and an OFS of Rs 565 crore by corporate and individual selling shareholders, as per the draft papers.
ET reported in December that A91 Partners, CapitalG and Alpha Wave will be selling their stake through the IPO. Other selling shareholders include LGT Capital, MAJ Invest Financial, Harleen Kaur Jetley and Vikram Jetley.
Aye Finance will be the fourth technology-backed financial services company to go public after Paytm, PolicyBazaar and MobiKwik. In September, the Gurugram-based NBFC had raised a Rs 250-crore pre-IPO equity round led by ABC Impact, a Singapore-based impact investment fund backed by Temasek, valuing the firm at around $400 million.
Both companies filed their preliminary IPO papers with the Securities and Exchange Board of India (Sebi) in December.
BlueStone's IPO comprises a fresh issue of shares worth Rs 1,000 crore and an offer-for-sale (OFS) of 2.4 crore equity shares by selling shareholders, according to the draft papers.
Those selling shares through the OFS are Kalaari Capital Partners II, LLC, Saama Capital II, Sunil Kant Munjal (and other partners of Hero Enterprise Partner Ventures) and other selling shareholders.
ET reported on December 13 about the IPO, which sources said would be at a valuation of Rs 12,000-13,000 crore, a more than 50% jump from its last fundraising from the private market. In August, the company closed a funding round of Rs 900 crore at a $970 million valuation.
Proceeds from the fresh issue to the extent of Rs 750 crore will be used to fund its working capital requirements and general corporate purposes.
The proposed IPO of non-banking financial company ( NBFC) Aye Finance will be a combination of a fresh issue of shares worth Rs 885 crore and an OFS of Rs 565 crore by corporate and individual selling shareholders, as per the draft papers.
ET reported in December that A91 Partners, CapitalG and Alpha Wave will be selling their stake through the IPO. Other selling shareholders include LGT Capital, MAJ Invest Financial, Harleen Kaur Jetley and Vikram Jetley.
Aye Finance will be the fourth technology-backed financial services company to go public after Paytm, PolicyBazaar and MobiKwik. In September, the Gurugram-based NBFC had raised a Rs 250-crore pre-IPO equity round led by ABC Impact, a Singapore-based impact investment fund backed by Temasek, valuing the firm at around $400 million.
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