Upcoming IPOs: Keep money ready! Soon the IPO of these 2 companies will come in the market, approval from SEBI..
Upcoming IPO: In the year 2022, many companies have launched their IPOs in the market. If you are also planning to invest money in an IPO in the new year, then there is good news for you. Market rules SEBI has approved the IPO of two companies. These companies are Avalon Technologies, an electronic manufacturing service provider, and Udayshivkumar Infra, a construction firm. Let us inform you that both companies submitted documents to SEBI in August and September 2022 to bring their IPOs. After this SEBI received the observation letter on 16 January. If you also want to invest in the IPOs of both companies, then we are going to tell you the details of both IPOs.
Udayashivkumar Impra IPO details
According to the documents submitted to SEBI, Udayashivkumar Impra Company is about to bring an IPO of Rs 60 crore to the market. 6- Crore shares will be issued through fresh equity. The amount of money to be deposited through this IPO will meet the company's general corporate goals and working capital requirements. Let us tell you that Udayashivkumar Impra Company is a Karnataka company which is associated with the work of road construction. Apart from this, the company also works for the development of state government roads, bridges, cities and industrial areas.
Avalon Technologies IPO details
According to the documents submitted by Avalon Technologies to SEBI, the company is going to invest a total of Rs 400 crore in the fresh shares market through this IPO. Along with this, the existing shareholders and promoters of the company will issue a total of Rs 625 shares through an offer for sale.
Along with this, the company is also planning to raise a total of Rs 80 through pre-IPO placement. The amount received through this IPO will be used by the company to settle its debt. Along with this, the company will meet its financial needs as well as working capital needs. Both these companies will be listed on the Bombay Stock Exchange and the National Stock Exchange.