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Three firms get Sebi nod to raise money via IPO


One Mobikwik Systems Ltd, SJS Enterprises Ltd and Skanray Technologies Ltd have received approval from the capital markets regulator Securities and Exchange Board of India to launch initial public offering.

Mobikwik had filed the draft papers with Sebi for the IPO on 12 July, while SJS Enterprises had filed the papers on 28 July. Skanray Technologies had filed the papers on 27 June.

Mobikwik’s issue comprises a fresh issue of 1500 crore and an offer for sale of 400 crore by its existing promoters and shareholders.

The offer for sale consists of sale of up to 9.98 crore by American Express Travel Related Services, 68.98 crore by Bajaj Finance, 20.88 crore by Sequoia Capital India Investment Holdings III, 74.11 crore by Sequoia Capital India Investments IV, 113.33 crore by Bipin Preet Singh, 11.48 crore by Cisco Systems, 24.41 crore by Tree Line Asia Master Fund Pte and 78.82 crore by Upasana Rupkrishan Taku.

ICICI Securities, BNP Paribas, Credit Suisse, IIFL Securities and Jefferies India are the book running managers to the issue.

SJS Enterprises plans to raise 800 crore. The IPO consists of a pure offer for sale of 688 crore by Evergraph Holdings Pte and 112 crore by KA Joseph. Axis Capital, Edelweiss Financial Services and IIFL Securities are the book lead managers to the issue.

Medical devices manufacturer Skanray Technologies is looking to raise 400 crore in fresh capital, as well as a secondary share sale, wherein its promoters and existing private equity investor Ascent Capital are expected to sell a part of their stake.

The Mysuru-based firm, which was founded by Vishwaprasad Alwa in 2007, manufactures medical equipment, including patient monitoring systems, high-frequency X-ray devices, ventilators and critical care devices. It operates two US Food and Drug Administration-approved manufacturing facilities in Mysuru, and one in Bologna, Italy.

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