EbixCash, a popular payments solution company, and Survival Technologies, a speciality chemicals company, have secured final approvals from the Securities and Exchange Board of India (SEBI) to raise ₹6,000 crore and ₹1,000 crore, respectively, via an initial public offering (IPO).
What Happened? EbixCash, a digital products and services provider, submitted preliminary papers to SEBI in March 2022. The IPO will consist of fresh equity shares of a face value of ₹1 each. The entire proceeds will go to the company.
The book-running lead managers are Motilal Oswal Investment Advisors, Equirus Capital, ICICI Securities, SBI Capital Markets and Yes Securities while the registrar of the issue is Link Intime India.
According to the Draft Red Herring Prospectus, EbixCash is a market leader in international remittance based on Gross Transaction Value (GTV) and a leading non-bank travel exchange. The company has four primary business segments: payment solutions, travel, financial technologies and business processing outsourcing services.
Survival Technologies, meanwhile, a speciality chemicals company, has also received final approval from SEBI to raise ₹1,000 crore through an IPO. The contract research and manufacturing services company filed preliminary IPO papers with SEBI in December 2022.
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The public offering consists of an offer-for-sale of up to ₹800 crore and a fresh issue of equity shares worth up to ₹200 crore. The company may also consider a pre-IPO placement for particular securities for cash. Working capital needs and other general corporate purposes would be funded with the proceeds from the new issuance, which will total ₹175 crore.
The issue’s registrar is Link Intime India, and the book-running lead managers are JM Financial and ICICI Securities.
According to a CRISIL report mentioned in the DRHP, Survival Technology is one of the few speciality chemical manufacturers in India manufacturing select products from the heterocyclic and fluoro organic product groups for sale in India and globally.
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