Out of ₹550 crore raised from issuance of equity shares, up to ₹200 crore will be utilised for funding sales and marketing costs; ₹140 crore for investment in Blackbuck Finserve Private Limited for financing the augmentation of its capital base to meet its future capital requirements. Besides, ₹75 crore will be used for product development and meet general corporate purposes.

Standard Glass Lining

The IPO of Telangana-based Standard Glass Lining Technology, engineering equipment manufacturer for pharmaceutical and chemical sectors in India, is a combination of fresh issuance of ₹250 crore and an offer for sale of up to 18.44 million equity shares by promoters and other selling shareholders.

The proceeds from its fresh issuance to the extent of ₹10 crore will be utilised for funding of capital expenditure requirements for purchase of machinery and equipment; ₹130 crore for repayment of certain outstanding borrowings availed by the company and investment in its wholly owned Material Subsidiary, S2 Engineering Industry Private Limited. Around ₹30 crore will used for Investment in its wholly owned Material Subsidiary, S2 Engineering Industry Private Limited, for funding its capital expenditure requirements towards purchase of machinery and equipment; ₹20 crore for funding inorganic growth through strategic investments and general corporate purpose.

Suraksha Diagnostic

Backed by global investment firm OrbiMed, the company, which had filed preliminary IPO papers in July, obtained the regulator's observation on September 30. The IPO is completely an OFS of up to 1.92 crore equity shares by promoters and investor shareholders, and there is no fresh issue component.

Under the OFS, promoters Somnath Chatterjee, Ritu Mittal, and Satish Kumar Verma will offload shares. Among investors, OrbiMed Asia II Mauritius Ltd, Munna Lal Kejriwal and Santosh Kumar Kejriwal will pare their stakes via OFS route.

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Standard Glass Lining

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