Avenue Supermarts, 3 Others File IPO Papers To Raise Rs 3,150 Crore
All three public issues will comprise of fresh issue of shares, sources said.
Four companies – Avenue Supermarts, Genesis Colors, Shankara BuildPro and GR Infraprojects – have filed draft papers with regulator SEBI to raise an estimated Rs 3,150 crore through initial public offerings.
The companies plan to utilise the net proceeds for business expansion, repayment of loans and general corporate purposes. The equity shares of the companies are proposed to be listed on BSE and NSE.
So far this year, 21 companies including ICICI Prudential Life Insurance Company, Larsen & Toubro Infotech and RBL Bank have already hit the capital markets.
Avenue Supermarts, which owns and operates supermarkets retail chain D-Mart, is looking to raise Rs 1,870 crore through the public issue.
Sources said there will not be any offer for sale from the promoters and the stake sale would comprise fresh issue of equity shares of 10 per cent.
The firm, which is valued at Rs 18,000 crore, is an emerging national supermarket chain, with a focus on value-retailing.
The IPO of Genesis Colors, which owns luxury brands like Satya Paul and Bwitch, comprises fresh issue of shares worth Rs 380 crore and offer for sale up to 1,916,741 equity scrips by the existing shareholders, as per the Draft Red Herring Prospectus.
According to sources, the public issue is expected to garner about Rs 650 crore.
Besides Satya Paul and Bwitch, it holds the marketing and distribution rights in India for several international luxury labels like Jimmy Choo, Armani, Paul Smith and Bottega Veneta under its arm Genesis Luxury Fashion, according to the company's website.
GR Infraprojects' IPO consists fresh issue of equity shares worth Rs 240 crore and an offer for sale of up to 5,413,540 equity shares by the three selling shareholders --Lokesh Builders Pvt Ltd., India Business Excellence Fund I and by India Business Excellence Fund.
Bangalore-based retailer Shankara BuildPro, which is into home improvement and building products, has filed for an initial public offering to raise about Rs 450 crore.
The company proposes to mop up between Rs 400 crore and Rs 450 crore through the sale, which will involve promoters and investors diluting their stakes to the tune of 35 percent.
The proposed IPO will enable private equity firm Fairwinds, which had pumped in close to Rs 120 crore in 2011, to exit Shankara, the sources told PTI.