Overview
- CleanMax won approval for a Rs 5,200 crore IPO comprising a Rs 1,500 crore fresh issue and a Rs 3,700 crore offer for sale, with the company able to pursue a pre-IPO placement of up to Rs 300 crore that would trim the fresh issue.
- Proceeds from CleanMax’s fresh issue include Rs 1,125 crore earmarked to repay or prepay borrowings, with the balance for general corporate purposes.
- CleanMax’s OFS will see sales by founder Kuldeep Pratap Jain and investors including BGTF One Holdings (DIFC) Ltd, KEMPINC LLP, Augment India I Holdings LLC and DSDG Holdings APS; Axis Capital, JP Morgan India, BNP Paribas, HSBC, IIFL, Nomura, BOB Capital and SBI Capital Markets are book-running lead managers, and listing is proposed on BSE and NSE.
- Nephrocare (NephroPlus) secured Sebi’s nod for an IPO featuring a Rs 353.4 crore fresh issue and an OFS of 1.27 crore shares, with fresh proceeds planned for new clinics in India, debt repayment and general corporate purposes.
- Together the two deals aim to raise at least Rs 5,553 crore, following Sebi observations issued between October 30 and November 4 that constitute regulatory clearance to launch.