Nuziveedu Seeds - One of the famous cotton seed companies got approval recently from Securities and Exchange Board of India (SEBI) to call for an initial public offer (IPO). SEBI announced that it has issued its approval for IPO on August 15th, 2015. It came to know that company has filed Draft Red Herring Prospectus in the month of April. SEBI has observed in keen about the draft placed by Nuziveedu Seeds for about 105 days and approved their proposal of initial IPO. SEBI also announced that this is the 24th company listed from beginning of the year which got approval from market regulator SEBI. Nuziveedu Seeds is the largest seed company in India located in Hyderabad. It has filed draft to get approval for an issue of 125 crore valued shares. Along with the issue, Company proposed an offer for selling shares from promoters and existing equity investor Blackstone.
Additional to 125 crore valued shares, existing investors of company are planning to sell additional shares of 1.18 crore valued in the scheme of offer for sale. It is announced that promoter group of companies offering about 98.91 lakh equity shares for Company’s IPO and Blackstone which have huge private equity shares planned to offer about 19.78 lakh shares.It came to know that Axis Capital, JP Morgan India, IDFC Securities and JM Financial Institutional Securities are maintaining the Initial Public Offer (IPO) of Nuziveedu Seeds Company. Company has already pre-planned about the usage of funds raised from IPO. It is decided to spend majority part of IPO towards clearance of borrowings made by the company since from formation. Although, Company decided to spend major part towards repayment but not sure about the quantum of funds it will spend towards the debt. It is found that secured borrowings of Nuziveedu Seeds are about 439.95 crores, recorded as on 28th February, 2015. Company has planned to save some funds for general and corporate purposes.
Nuziveedu Seeds Stands on No.24 in the Approval List
This year, along with Nuziveedu Seeds, there are other 23 companies which got approval from SEBI till now. Prabhat Dairy, Precision Camshafts, S H Kelkar and Company, Amar Ujala Publications, Navkar Corporation, Shree Shubham Logistics, Dilip Buildcon, SSIPL Retails, Catholic Syrian Bank and Company, AGS Transact Technologies, Numero UNO Clothing Limited, Sadbhav Infrastructure Project Limited and Pennar Engineered Building Systems Limited are some approved companies enlisted in this year. There are some other companies which filed drafts this year. Among them Realtor Paranjape Schemes, Coffee Day’s Parent Coffee Day Enterprises Limited, Telecom Infrastructure Player Viom Networks and IndiGo parent InterGlobe Aviation Limited are some companies filed their drafts to SEBI.
As of today, 24 companies have got approval from SEBI this year. There is a hope for some more companies to get added to this list by end of the year. Present, nine firms have organized IPO share sales nearly valuing 4,400 crores. Compared to previous two years statistics, high growth is seen in this year. In 2013, six companies organized 1,261 crore valued shares together. Whereas, in 2014, three companies organized 1,284 crore valued IPO shares.
Additional to 125 crore valued shares, existing investors of company are planning to sell additional shares of 1.18 crore valued in the scheme of offer for sale. It is announced that promoter group of companies offering about 98.91 lakh equity shares for Company’s IPO and Blackstone which have huge private equity shares planned to offer about 19.78 lakh shares.It came to know that Axis Capital, JP Morgan India, IDFC Securities and JM Financial Institutional Securities are maintaining the Initial Public Offer (IPO) of Nuziveedu Seeds Company. Company has already pre-planned about the usage of funds raised from IPO. It is decided to spend majority part of IPO towards clearance of borrowings made by the company since from formation. Although, Company decided to spend major part towards repayment but not sure about the quantum of funds it will spend towards the debt. It is found that secured borrowings of Nuziveedu Seeds are about 439.95 crores, recorded as on 28th February, 2015. Company has planned to save some funds for general and corporate purposes.
Nuziveedu Seeds Stands on No.24 in the Approval List
This year, along with Nuziveedu Seeds, there are other 23 companies which got approval from SEBI till now. Prabhat Dairy, Precision Camshafts, S H Kelkar and Company, Amar Ujala Publications, Navkar Corporation, Shree Shubham Logistics, Dilip Buildcon, SSIPL Retails, Catholic Syrian Bank and Company, AGS Transact Technologies, Numero UNO Clothing Limited, Sadbhav Infrastructure Project Limited and Pennar Engineered Building Systems Limited are some approved companies enlisted in this year. There are some other companies which filed drafts this year. Among them Realtor Paranjape Schemes, Coffee Day’s Parent Coffee Day Enterprises Limited, Telecom Infrastructure Player Viom Networks and IndiGo parent InterGlobe Aviation Limited are some companies filed their drafts to SEBI.
As of today, 24 companies have got approval from SEBI this year. There is a hope for some more companies to get added to this list by end of the year. Present, nine firms have organized IPO share sales nearly valuing 4,400 crores. Compared to previous two years statistics, high growth is seen in this year. In 2013, six companies organized 1,261 crore valued shares together. Whereas, in 2014, three companies organized 1,284 crore valued IPO shares.