(M.C)
Three more companies are set to join the rush among Indian businesses to tap the primary market that saw a record fundraise of more than Rs 1.3 lakh crore in 2021. Market regulator the Securities and Exchange Board of India (SEBI) has given the nod to Sresta Natural Bioproducts Ltd, Maini Precision Products Ltd and Campus Activewear Ltd to launch their initial public offerings (IPOs). Organic food products company Sresta Natural Bioproducts, backed by private equity firm Peepul Capital and venture capital firm VenturEast, had filed draft papers with the SEBI in January. The offer comprises fresh issuance of shares worth Rs 50 crore and an offer-for-sale of 70.3 lakh equity shares by investors, including Peepul Capital Fund III LLC and Bio Fund.
Private equity firm TPG-backed sports and athleisure footwear brand Campus Activewear, too, filed its draft papers in December. The public issue of 5.1 crore equity shares is entirely an offer for sale by promoters and investors. Campus Activewear claims to be the largest sports and athleisure footwear brand in India in terms of value and volume in FY21. The Campus brand was launched in 2005.
