MedPlus, 5 others get nod for IPOs

New Delhi: Six companies, including pharmacy retail chain MedPlus Health Services, travel technology services firm RateGain Travel Technologies and microlender Fusion Micro Finance, have received markets regulator Sebi's go ahead to raise funds through IPOs. The equity shares of the six companies will be listed on the BSE and NSE.

The other firms that have received the approval to float their Initial Public Offerings (IPOs) are retail wealth management firm Prudent Corporate Advisory Services, private market intelligence platform Tracxn Technologies and real estate developer Puranik Builders. These six companies, which filed their preliminary IPO papers with Sebi between August and September, obtained observations letter from the regulator during November 16-18, an update with the markets watchdog showed on Monday.

In Sebi parlance, issuance of observations letter implies its go-ahead for an IPO. Going by the draft papers, MedPlus Health Services' Rs 1,639-crore IPO comprises fresh issuance of equity shares worth 600 crore and an Offer For Sale (OFS) of equity shares to the tune of Rs 1,038.71 crore by the promoters and existing shareholders.

The initial share sale of RateGain Travel Technologies consists of a fresh issue of equity shares, aggregating up to Rs 400 crore and an OFS of up to 2.26 crore shares by promoters and existing shareholders.