Five Companies Get SEBI Approvals for IPOs Including Milky Mist Dairy and Curefoods

New Delhi, October 28: A good news for investors as the Securities and Exchange Board of India (SEBI) has provided its approval to the Initial Public Offering (IPO) of five more companies. The companies which will come out with their IPOs soon after the SEBI approval are Milky Mist Dairy Food, Curefoods India, Steamhouse India, Gaja Alternative Asset Management, and Kanodia Cement.

The approvals were issued by SEBI between October 14 and October 24, and the companies are expected to launch their IPO issues in the coming months.

Milky Mist Dairy Food: ₹2,035 Crore IPO

Milky Mist Dairy Food is looking to raise ₹2,035 crore through a combination of fresh issue of ₹1,785, and rest through an Offer For Sale (OFS) for its promoters. The company will primarily use the IPO proceeds for repayment of debt, expansion and upgradation of its Perundurai facility. It will also use the proceeds for the establishment of new whey protein concentrate, yoghurt, and cream cheese factories.

Curefoods India: ₹800 Crore Fresh Issue

Curefoods India, which operates brands such as CakeZone and Nomad Pizza, is looking to raise ₹800 crore through a fresh issue. The IPO will also see an OFS of 4.85 crore shares by its current promoters. The company will use the funds raised from the IPO to invest in expansion of cloud kitchens, restaurants, kiosks, and central kitchens. It will also use the proceeds to invest in its subsidiaries, such as Fan Hospitality Services and Cakezone Foodtechs.

Steamhouse India and Gaja Capital Choose Pre-Filing Path

Steamhouse India and Gaja Alternative Asset Management have announced that they have chosen the confidential pre-filing path for their IPOs. This will allow them to hide the offer information until the final stages of their IPOs. However, experts indicate that Steamhouse India is looking to raise ₹500 crore to ₹700 crore. Gaja Capital, which had appointed veteran SEBI chief U. K. Sinha as Non-Executive Chairman this year, will also launch its IPO through the same route.

Kanodia Cement: All Offer for Sale

Kanodia Cement IPO will include an OFS of 1.49 crore shares, with no fresh issue element. The company will not get any proceeds from the IPO, and all the money from the OFS will go to the selling promoters and shareholders.

The latest approval by SEBI increases the IPO issue pipeline, providing investors more chances to invest and earn profits. It remains to be seen how the next stages of their IPOs turn out, and how much demand is witnessed by these companies for their issues.

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