 "Sebi go ahead for Advanced Enzyme, Intas Pharmaceuticals 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. [caption id=“attachment_1112575” align=“alignleft” width=“380”]
Clearing IPOs. Image courtesy ibnlive[/caption]
Sebi issued its final observations on the draft offer documents on 12 September, 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 28 March through its lead manager ICICI Securities, while Sebi got initial papers of Intas Pharmaceuticals on 14 June 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 shahreholders will also sell shares.
The equity shares would be listed on the BSE and National Stock Exchange.
PTI