Latest SJS Enterprises News
Oct 12, 2021
Skanray Technologies had filed DRHP in June. Its IPO will comprise fresh issue of equity shares, aggregating up to Rs 400 crore, and OFS of up to 1,41,06,347 equity shares by promoters and existing shareholders. PTI October 12, 2021 / 12:14 PM IST The Securities and Exchange Board of India (Sebi) has given its approval for the initial share sales of three companies, including SJS Enterprises and One Mobikwik Systems. Medical equipment maker Skanray Technologies has also received the nod from the watchdog for its initial public offering (IPO). The three companies have been issued observations by the watchdog, according to the update on the processing status of draft offer documents as on October 8. An observation letter is mandatory for an initial share sale. In Sebi parlance, the issuance of observations implies its go-ahead for the IPO. One Mobikwik Systems is a leading mobile wallet (MobiKwik Wallet) and Buy Now Pay Later (BNPL) player in India. The company, which filed the Draft Red Herring Prospectus (DRHP) for the IPO in July, plans to offer shares aggregating to Rs 1,900 crore. This will comprise raising Rs 1,500 crore through fresh issue of shares and Rs 400 crore-worth stocks will be offloaded through the Offer-for-Sale (OFS) route by existing shareholders. SJS Enterprises plans to garner Rs 800 crore through the initial share sale. It will be an OFS of Rs 688 crore by Evergraph Holdings Pte Ltd and Rs 112 crore by KA Joseph. The firm, a leading player in the Indian decorative aesthetics industry, had filed the preliminary papers in July. Skanray Technologies had filed DRHP in June. Its IPO will comprise fresh issue of equity shares, aggregating up to Rs 400 crore, and OFS of up to 1,41,06,347 equity shares by promoters and existing shareholders.