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Adani Wilmar, Nykaa, Star Health and Allied Insurance, among 6 IPOs approved by SEBI October 18 2021SEBI approves 6 IPO’s, Latest IPO’s, Upcoming IPO’

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SEBI approves 6 IPO's. Nykaa, Adani Wilmar, Star Health amongst them

Star Health Insurance, owned by Rakesh Jhunjhunwala, Nykaa, an e-commerce platform, and Adani Group's FMCG business Adani Wilmar are among the firms that obtained approval from capital market regulator SEBI for their IPO’s last week. Apart from the mentioned companies, SEBI has granted approval to Penna Cement Industries, Latent View Analytics, and Sigachi Industries, allowing them to obtain funds. In the previous week, SEBI accepted six IPO papers, while the market regulator has yet to give observation on 52 firms. For any business to proceed with its IPO, SEBI's observations are required.

Nykaa :  The online cosmetics marketplace filed for an initial public offering in August of this year. Nykaa intends to raise Rs 525 crore through a new equity share offering, with the company's promoters aiming to sell 4.31 crore shares. Sanjay Nayar Family Trust, TPG Growth IV, Lighthouse India Fund III, Lighthouse India III Employee Trust, Yogesh Agencies & Investments Private Limited, JM Financial and Investment Consultancy Services, Sunil Kant Munjal, Harindarpal Singh Banga jointly with Indra Banga, and others are among the selling shareholders. Qualified Institutional Buyers will get 75 percent of the entire issuance.

Big Bull: Star Health and Allied Insurance: Star Health and Allied Insurance, which are controlled by Rakesh Jhunjhunwala, submitted draft documents with SEBI in July of this year. The IPO, which will comprise a fresh issue of equity shares as well as an offer for sale (OFS) by current shareholders and even certain promoters of the firm, is expected to generate more than Rs 2,000 crore. The huge bull holds 7.68 crore equity shares in Start Health and Allied Insurance, or 14 percent of the company. Qualified Institutional Buyers will be entitled to 75% of the issuance.

Adani Wilmar: Adani Group's FMCG brand is planning an initial public offering (IPO) to raise Rs 4,500 crore from the market. Adani Wilmar was founded in 1999 as a joint venture between Adani Group and Singapore-based Wilmar. Under the Fortune brand, it sells cooking oils as well as a variety of other food items such as rice and sugar. With a reserve for Adani Enterprise stockholders, the IPO will be a completely new issue of shares.

Penna Cement Industries' Rs 1,550 crore IPO is one of the several IPOs that has been authorised. The market regulator has also authorised Latent View Analytic's Rs 600 crore IPO and Sigachi Industries' public offering.

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