Five Firms Set to Boost Market with Initial Public Offerings Boom
Five companies, including Milky Mist Dairy and Curefoods India, have received approval from Sebi to launch IPOs, amid a surge in India's primary market activity. These firms plan to use their IPO proceeds for purposes like debt repayment, facility expansions, and brand development.
- Country:
- India
In a significant development for India's financial markets, five companies have received the green light from the Securities and Exchange Board of India (Sebi) to proceed with initial public offerings. The list includes Milky Mist Dairy Food and Curefoods India, signaling a robust phase in the primary market.
The approved firms also comprise Steamhouse India, Gaja Alternative Asset Management, and Kanodia Cement. These companies had their preliminary filings with Sebi from May to July, and gained the essential regulatory observations this month, equated to clearance for IPO launch.
Amid a thriving market atmosphere, Milky Mist Dairy aims to raise Rs 2,035 crore, while Curefoods plans a Rs 800 crore raise. The funds will support various strategic initiatives such as debt repayment, expansion of facilities, and development of new assets, underscoring confidence in growth and innovation.
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