Afcons Infrastructure, the infrastructure engineering and construction firm of Shapoorji Pallonji Group, has filed its draft red herring prospectus with the market regulator SEBI to raise funds through an initial public offering (IPO).
Ghazal Alagh, cofounder and CIO of Honasa Consumer, clarified the reasons behind the high offer for sale (OFS) component in Mamaearth’s IPO. The largest investor is not selling their shares, the promoters hold 97% ownership, and those who are selling in OFS are holding more than they are selling. An OFS involves the sale of existing shares by stakeholders, and the funds go directly to the selling shareholders.
Pharmaceutical company Blue Jet Healthcare has raised Rs 252 crore from anchor investors ahead of its IPO. The company has allotted equity shares at the upper end of the price band set for the initial public offering. The IPO is expected to raise approximately Rs 799-840.27 crore. Blue Jet Healthcare focuses on the collaboration, development, and manufacturing of pharmaceutical products. The IPO is an entirely Offer for Sale (OFS) component by promoters Akshay Bansarilal Arora and Shiven Akshay Arora.
