Advent International-backed Manjushree Technopack and Inventurus Knowledge Solutions Ltd, which provides healthcare support services, have received go ahead from market regulator Sebi to float initial public offerings.
Manjushree Technopack is looking to mobilise Rs 3,000-crore through the initial share-sale, while the initial public offering (IPO) of Inventurus Knowledge Solutions, which is backed by Rekha Jhunjhunwala and RARE Enterprises, is entirely an Offer-For-Sale (OFS), an update with Sebi showed on Tuesday.
The two firms had filed their respective preliminary IPO papers in August and obtained the regulator's observations during November 4 to 8.
In Sebi's parlance, obtaining a regulator's observations means its go ahead to float the public issues.
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Manjushree Technopack's initial share-sale is a combination of a fresh issue of equity shares worth Rs 750 crore and an OFS of equity shares valued Rs 2,250 crore by AI Lenarco Midco Ltd, according to the draft red herring prospectus (DRHP).
The offer also includes a reservation for a subscription by eligible employees.
Proceeds from the fresh issue to the tune of Rs 500 crore will be used for payment of debt; funding inorganic growth through acquisitions and other strategic initiatives and general corporate purposes.
Founded in 1987, Manjushree Technopack is a one-stop packaging solutions provider with end-to-end capabilities from design to delivery.
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Inventurus Knowledge Solutions' IPO is entirely an OFS of up to 2.82 crore equity shares by promoters and individual shareholders, with no fresh issue component, the draft papers showed.
Since the issue is completely an OFS, the company will not receive any proceeds from the IPO and the entire fund will go to shareholders.
Inventurus Knowledge Solutions is a technology-enabled healthcare solutions provider and a care enablement platform assisting physician enterprises in the US, Canada and Australia, with a focus on the US markets.
Shares of both companies will be listed on the BSE and National Stock Exchange (NSE).
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