New Delhi, 05 February (HS). The Securities and Exchange Board of India (SEBI) has given approval to four companies, including Juniper Hotels and real estate company Arcade Developers, to launch their initial public offerings (IPOs).
Market regulator SEBI said in a statement on Monday that Juniper Hotels, which runs a hotel chain under the Hyatt brand, real estate company Arcade Developers, logistics firm CJ Darkal and logistics and agricultural equipment manufacturer Indo Farm Equipment have been given approval to launch their IPOs. . These firms had submitted their IPO documents with the market regulator between September-October, 2023.
However, the market regulator has returned the IPO offers of Cronox Lab Sciences and Sri Tirupati Balaji Agro Trading Company. SEBI has not given any reason for returning these documents. According to the draft IPO documents, Juniper Hotels’ proposed IPO will involve an offer for sale of new shares worth Rs 1,800 crore.
According to SEBI, new equity shares worth Rs 430 crore will be offered in the IPO of Arcade Developers. Similarly, the issue of CJ Darkal Logistics will include an offer for sale (OFS) of 54.31 lakh shares held by the promoters with new equity shares worth Rs 340 crore, while the IPO of Indo Farm Equipment will include 1.05 crore new equity shares and 35 lakh shares held by the promoters. Involves an offer for sale of lakh equity shares.