Bajaj Housing Finance, Baazar Style Retail, Diffusion Engineers, Deepak Builders, and Manba Finance have received SEBI’s approval to raise funds through their initial public offerings (IPOs).
On August 5, SEBI issued an observation letter to Bajaj Housing Finance, signaling that the company could move forward with its IPO within the next year. Bajaj Housing Finance, which submitted its draft prospectus in June, aims to raise ₹7,000 crore through a combination of a fresh issue of ₹4,000 crore and an offer-for-sale (OFS) of ₹3,000 crore by its promoter, Bajaj Finance. The funds will be used to strengthen its capital base and support future lending.
SEBI also issued an observation letter to Deepak Builders and Engineers India on July 31, following their draft submission in April. The company plans to use the fresh issue funds for debt repayment and working capital.
On July 30, SEBI approved IPOs for Baazar Style Retail, Diffusion Engineers, and Manba Finance. Baazar Style Retail will raise ₹185 crore and use the funds for debt repayment and corporate purposes. Diffusion Engineers plans to issue 98.47 lakh equity shares to fund its manufacturing expansion and working capital needs. Manba Finance aims to raise funds solely through a fresh issue to enhance its capital base.
Additionally, SEBI returned Sanathan Textiles’ offer documents on July 31 and lifted the suspension on SK Finance’s ₹2,200 crore IPO.