Securities and exchange board of India approved five new public issues during the week by issuing observations to their draft offer documents. This included Oravel Stays Limited (parent company of OYO), Mehta Hitech Industries, Veegaland Developers, Advanta Enterprises and Truhome Finance (previously known as Shriram Housing Finance).
Oravel Stays Limited, the parent company of OYO, is a technology platform in the global hospitality industry. The company will raise Rs 8,430 crore through the issue, with Rs 7,000 crore fresh issuance and Rs 1,500 crore as an offer for sale. SVF India Holdings, A1 Holdings, China Lodging Holdings and Global Ivy Ventures will sell their holdings in the offer for sale.
Housing finance lender plans Rs 3,000 crore public issue
Truehome Finance, previously known as Shriram Housing Finance, is a retail-focused affordable housing finance company. The company’s issue will be a mix of fresh issuance (Rs 1,500 crore) and offer for sale (Rs 1,500 crore) with a total issue size of Rs 3,000 crore. The promoter Mango Crest Investments will sell its holdings in the offer for sale.
Veegaland Developers is a Kerala-based real estate development company engaged in planning, development and sale of residential apartment projects. The company will aim to raise Rs 250 crore through issuance of fresh shares.
Tech manufacturing firm seeks listing
Mehta Hitech Industries is an Ahmedabad-based manufacturer of laser equipments and digital printers. While the issue size was not disclosed, the company shared in its DRHP that it will issue 6.2 million fresh shares during the offer.
Advanta Enterprises, a subsidiary of United Phosphorus Limited (UPL), is a global agricultural solutions company specializing in hybrid seeds and post-harvest solutions. The company’s issue will be an offer for sale of 36.106 million shares with UPL, Melwood Holdings and KIA EBT selling their shares in the offer.
