Three companies have filed draft papers with the Securities and Exchange Board of India (SEBI) to raise capital via Initial Public Offering (IPO). These three companies are Continental Warehousing Corp. NS Ltd, Genesis Colors Pvt. Ltd and Avenue Supermarkets Ltd.
The companies are looking to utilise the funds for further business expansion, repayment of loans and general corporate purposes, Deal Street Asia reported.
The shares of the firm will then be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Genesis Colors
The company which owns luxury brands such as Bwitch and Satya Paul in June proposed to raise upto Rs 380 crore via an issue of shares. It also included offer for sale up to 1.92 million shares by Mayfield Fund, Henderson Private Equity and Innoven Capital. The company, which includes distribution and marketing partners for brands such as Paul Smith, Jimmy Choo and Armani, has hired ICICI Securities, Edelweiss Financial Services to manage the issue.
Continental Warehousing Corp
The logistics firm has filed draft prospectus to issue shares worth Rs 419 crore. The offer for sale of upto one crore shares by Warburg Pincus and 36,76,820 shares for Abraaj. Edelweiss Capital, Axis Capital, Ambit, ICICI Securities are managing the issue. Proceeds from the fresh issue will be utilised for retiring debt, purchase of equipment and construction of warehouses at Ahmedabad and Panipat.
Avenue Supermarkets
The company, which owns and operates hypermarket and supermarket chain D-Mart is looking to raise upto Rs 1,870 crore through a fresh issue of shares. The company, which is amongst India's fastest growing retailer, could raise about Rs 1,000-1,200 crore through an IPO. Kotak Mahindra Capital, Axis Capital, Edelweiss, HDFC Bank, ICICI Securities, Inga Capital, JM Financial will manage the issue, Mint reported.
