These 4 companies including Rubicon Research will soon enter the IPO market, got approval from the market regulator.

New Delhi : This year has been very special for the IPO market, because this year IPOs of big companies have made a strong entry in the market. Today, food delivery platform Swiggy has also launched its IPO for investors. Now news is coming that pharma company Rubicon Research is also ready to enter the IPO market.

Along with Rubicon Research, four more companies including TPG Capital-backed Sai Life Sciences are also trying to raise at least Rs 3,000 crore through initial public offering (IPO). For this, these companies have also got approval from the Securities and Exchange Board of India i.e. SEBI.

BMW Ventures withdrew the documents

According to the 'update' released by SEBI on Wednesday, two other companies that have received approval to launch IPO are Sanatan Textiles and vehicle spare parts company Metalman Auto. Meanwhile, BMW Ventures, which filed its IPO documents in September, withdrew the documents on October 28.

SEBI approval is necessary

It said four companies – Rubicon Research, Sai Life Sciences, Sanatan Textiles and Metalman Auto – had filed IPO documents with SEBI during July and August. These companies got the results of SEBI on 31st October. For any company to launch an IPO, it is necessary to know the result of SEBI.

Equity shares worth Rs 500 crore

According to preliminary documents, Rubicon Research's Rs 1,085 crore IPO will see fresh equity shares worth Rs 500 crore issued and an offer for sale (OFS) worth Rs 585 crore by promoter general Atlantic Singapore RR Pte Ltd. Currently, General Atlantic holds more than 57 percent stake in Rubicon Research.

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OFS of 6.15 crore shares

The proposed IPO of Hyderabad-based Sai Life Sciences comprises a fresh issue of equity shares worth Rs 800 crore and an OFS of 6.15 crore shares by promoters, investor shareholders and other shareholders.

mix of ofs

The statement said Sanatan Textiles' IPO is a mix of fresh issue of equity shares up to Rs 500 crore and OFS of up to Rs 300 crore by the promoters and promoter group entities. The proposed IPO of Metalman Auto is a combination of fresh issue of equity shares worth Rs 350 crore and OFS of 1.26 crore shares by its promoters.

(with agency input)