Udayavni Special

Shri Bajrang Power gets Sebi’s go-ahead for IPO


PTI, Jan 21, 2020, 9:44 AM IST

New Delhi: Shri Bajrang Power and Ispat has received markets regulator Sebi’s approval to raise up to Rs 500 crore through an initial share-sale.

The company, an integrated manufacturer of long steel products in the country, is the first one to get clearance this year from the regulator to float an IPO.

Shri Bajrang Power, which filed draft papers with the regulator in September 2018, obtained its “observations” on January 17, latest update with the Securities and Exchange Board of India (Sebi) noted.

Sebi’s observations are very necessary for any company to launch public issue such as initial public offer (IPO), follow-on public offer (FPO) and rights issue.

Going by the draft papers, Shri Bajrang Power’s IPO comprises equity shares of face value of Rs 10 each aggregating up to Rs 500 crore.

Proceeds from the issue will be utilised towards repayment of certain borrowings availed by the company and for other general corporate purposes.

IDBI Capital Markets & Securities, Equirus Capital and SBI Capital Markets will manage the company’s IPO. The equity shares will be listed on BSE and NSE.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

COVID-19: Karnataka logs 6,955 infections, 36 deaths

India fastest nation to administer 100 million doses of COVID vaccine: Health Ministry

Tweet recalls queen’s loving anniversary speech

EC should be held responsible for Cooch Behar killings: Chidambaram

After Rahul Dravid, Deepika Padukone calls her baby self ‘Indiranagar ki Gundi’

Govt asks fertiliser manufacturers, importers to ensure adequate supply during kharif 2021

Woman who consumed poison outside Union Minister Pralhad Joshi’s house, dies





Related Articles More

India needs to grow faster to make up for contraction during COVID-19 pandemic: IMF

Alibaba fined USD 2.8 billion on competition charge in China

Net direct tax mop up exceeds revised estimates at Rs 9.45 lakh cr in FY21

Recovery is underway after worst global recession since World War II: IMF MD

During COVID-19 pandemic, India’s debt to GDP ratio increased from 74 pc to 90 pc: IMF

MUST WATCH

News Bulletin 10- 04-2021 | UDAYAVANI

Impact of Lock-down on fisheries | Fisheries Industry

Mangaluru: Woman rescues dog from 50-ft well

‘Night Corona curfew’: Compol issues guidelines, know rules

Kundapura: Minitruck dumps waste near road; local man makes them reload it

Latest Additions

COVID-19: Karnataka logs 6,955 infections, 36 deaths

India fastest nation to administer 100 million doses of COVID vaccine: Health Ministry

Tweet recalls queen’s loving anniversary speech

EC should be held responsible for Cooch Behar killings: Chidambaram

After Rahul Dravid, Deepika Padukone calls her baby self ‘Indiranagar ki Gundi’

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.