Ardee Engineering Ltd. received SEBI approval last week to raise funds via an initial public offering. The IPO will include a mix of fresh issue of shares worth Rs 500 crore and an offer-for-sale up to Rs 80 crore by promoter selling shareholders, as per the draft offer documents.
The Hyderabad-based company is an integrated design, engineering and manufacturing company having three primary business lines — pre-engineered buildings, material handling systems and engineering services.
Stock broking platform Groww‘s confidential filing for an initial public offering has been greenlit by the SEBI, people aware of the matter told NDTV Profit. The public offer is likely to be worth up to $1 billion, which will end up valuing the company at around $7 billion, the abovementioned people added.
As per the latest SEBI filing, a total of 69 companies have applied for an IPO that are under review. These include CICI Prudential Asset Management Co., Meesho Ltd., Pine Labs Ltd. and Urban Co.
