Four Firms Get Sebi’s Nod For IPO

New Delhi: Dr Agarwal’s Health Care, Casagrand Premier Builder, Highway Infrastructure and Regreen-Excel EPC India have received markets regulator Sebi’s clearance to raise funds through initial public offering. These four firms, which had filed their preliminary papers with the markets watchdog between September and October, obtained observation letters in December last year, an update with the Securities and Exchange Board of India (Sebi) on Wednesday showed.

In Sebi’s parlance, obtaining observation letters means its go-ahead to launch an Initial Public Offering (IPO). Going by the draft papers of Temasek Holdings and TPG-backed Dr Agarwal’s Health Care, an eye care services provider, the IPO is a combination of a fresh issue of up to Rs 300 crore and an Offer For Sale, (OFS) of up to 6.95 crore equity shares by promoters and other selling shareholders. The offer also includes a subscription for eligible employees. Those selling shares in the OFS include Arvon Investments Pte Ltd, Claymore Investments (Mauritius) Pte Ltd, and Hyperion Investments Pte Ltd.