Upcoming IPO: SEBI Approved IPO Proposals of 5 Companies Including Innovatiview India, Park Hospitals

The Securities and Exchange Board of India (SEBI) has granted approval to 5 companies to proceed with their initial public offerings (IPOs)

Among those receiving the green light are Innovatiview India, a provider of security and surveillance solutions, and Park Medi World, a hospital chain operating under the Park brand. Joining them are real estate firm Runwal Enterprises, construction machinery exporter Jinkushal Industries, and agrochemical manufacturer Advance Agrolife.

Innovatiview India: ₹2,000 Crore Offer for Sale

Noida-based Innovatiview India is eyeing a ₹2,000 crore IPO, entirely through an Offer for Sale (OFS). The OFS will see major shareholders Ashish Mittal and Ankit Agarwal each offload shares worth ₹800 crore, followed by ₹320 crore from Vishal Mittal and ₹80 crore from Abhishek Agarwal.

Park Medi World: ₹1,200 Crore Mixed Offering

Park Medi World plans to raise ₹1,200 crore through a combination of fresh equity issuance worth ₹900 crore and a ₹300 crore OFS by promoter Ajit Gupta. The proceeds from the fresh issue will be used to repay existing debt, fund capital expenditure for a new hospital, and expand existing facilities operated by its subsidiaries, according to its DRHP.

Runwal Enterprises: ₹1,000 Crore Fresh Issue

Mumbai-based Runwal Enterprises has received approval to raise ₹1,000 crore through a pure fresh issue. The real estate firm aims to utilise the proceeds for business expansion and debt repayment.

Jinkushal Industries IPO

Chhattisgarh-headquartered Jinkushal Industries, which exports construction machinery to the UAE and the US, has also secured SEBI's nod. Its IPO will comprise a fresh issue of up to 8.65 million equity shares and an OFS of up to 1 million shares, each with a face value of ₹10. The company plans to deploy the fresh capital towards working capital needs and general corporate purposes.

Also Read: Upcoming IPOs This Week: 3 Mainboard, Including JSW Cement and 2 SME IPO are Set to Open for Bidding

Advance Agrolife IPO

Jaipur-based Advance Agrolife, a producer of a wide range of agrochemical products, has received approval for a fresh issue of 19.3 million equity shares. The company intends to list on both NSE and BSE. The IPO proceeds will be allocated toward working capital requirements and general business purposes.

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