Sebi gives green signal to two IPOs
Mumbai: Market regulator Sebi has given nod to the proposed initial public offerings of two companies-- Advanced Enzyme Technologies and Intas Pharmaceuticals.
Advanced Enzyme and Intas Pharmaceuticals had filed their draft red herring prospectus (DRHP) with Sebi in March and June respectively for the proposed public offer.
Sebi issued its final observations on the draft offer documents on September 12, as per the latest update by the market regulator. Sebi's observations are required for companies to launch any public offer.
The regulator had received the draft offer documents of Advanced Enzyme on March 28 through its lead manager ICICI Securities, while Sebi got initial papers of Intas Pharmaceuticals on June 14 via merchant banker Kotak Mahindra Capital Company.
Advanced Enzyme, engaged in the research and development, manufacturing and marketing of proprietary enzyme products, proposed to raise Rs 200 crore via IPO.
Healthcare firm Pharmaceuticals is planning to raise Rs 225 crore through fresh issues, while existing shareholders will also sell shares.
The equity shares would be listed on the BSE and National Stock Exchange.