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Nuziveedu Seeds IPO get SEBI nod
Nuziveedu Seeds IPO get SEBI nod. Leading cotton seeds producer Nuziveedu Seeds has received capital markets regulator Sebi\'s approval to float an initial public offer (IPO) for Rs 125 crore.
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New Delhi: Leading cotton seeds producer Nuziveedu Seeds has received capital markets regulator Sebi's approval to float an initial public offer (IPO) for Rs 125 crore. Also promoters and Blackstone are coming with offer for sale. Sebi issued its final observations on the draft offer document of the company on August 5, which is necessary for any company to launch a public offer.
Nuziveedu Seeds filed its draft papers with Sebi in April for its proposed public issue which comprises of fresh issue of shares worth Rs 125 crore and an offer for sale from its promoters and existing private equity investor Blackstone. The promoter group of the company plans to offer up to 98.91 lakh equity shares for sale, while private equity giant Blackstone plans to offer 19.78 lakh shares.
JM Financial Institutional Securities, JP Morgan India, Axis Capital and IDFC Securities are the merchant bankers to manage the offer. So far in 2015, nine firms have mobilised nearly Rs 4,400 crore through IPOs, higher than funds raised in the preceding two years, while IPO of Power Mech Projects is underway.
