Navi Technologies

Flipkart co-founder Sachin Bansal-led fintech firm Navi Technologies has received the green signal from the SEBI for its ₹3,350 Cr IPO. The issue will be completely a fresh issue, which will be used in its subsidiaries Navi Finserv Private Limited (NFPL) and Navi General Insurance Limited (NGIL). As per the offer document, the company intends to invest ₹2,370 crore in NFPL and ₹150 crore in NGIL, while the remaining capital will be used for general corporate purposes. The company mulls a pre-IPO placement of equity shares worth ₹670 crore.

The company was founded by Bansal and his former Flipkart colleague Ankit Agarwal in 2018. It is a technology-driven financial products and services company focusing on the digitally connected young middle-class population of India.

Senco Gold and Diamonds

Jewellery major Senco Gold and Diamonds is also planning to hit D-Street to raise ₹525 crore through IPO route. According to the DRHP filed with capital market regulator SEBI, the issue comprises fresh issue of equity shares aggregating up to ₹325 crore and an offer for sale of equity shares aggregating up to ₹200 crore by selling shareholder SAIF Partners India IV Limited. Besides, the company may consider a pre-IPO placement of equity shares worth ₹65 crore.

The Kolkata-headquartered Senco Gold, which operates under the tradename Senco Gold & Diamonds, is the largest organised jewellery retailer in the eastern region of India based on the number of stores, as per Crisil report. It primarily sells gold and diamond jewellery and also sells jewellery made of silver, platinum and precious and semi-precious stones and other metals.

Signature Global

Real estate major Signature Global has filed a draft red herring prospectus with the capital markets regulator to raise ₹1,000 crore through the initial public issue route. As per the preliminary papers filed with the markets watchdog, the IPO comprises a fresh issue of shares worth ₹750 crore, and an offer for sale of ₹250 crore. The OFS portion will see promoter shareholder Sarvpriya Securities Private Limited and investor shareholder International Finance Corporation offloading stakes worth ₹125 crore each.

The net proceeds of the IPO, after deducting the OFS portion, will be utilised for re-payment or pre-payment, in full or in part, of certain borrowings availed by Signature Global.

Signature Global has roped in ICICI Securities, Axis Capital and Kotak Mahindra Capital Company as book running lead managers (BRLMs). Link Intime India is the registrar to the issue.

Uniparts IPO

Uniparts India makes tepid debut; falls 7% on listing

Seven IPOs to hit D-Street this festive season; ₹10,000 cr at stake