Overview
- SEBI issued observations for Canara Robeco AMC, Hero Motors, Pine Labs, Emmvee Photovoltaic Power, Manipal Payment and Identity Solutions, and Orkla India after filings made between April and July.
- Merchant bankers estimate the six offerings could mobilize about Rs 9,000 crore, with all issuers slated to list on both the BSE and NSE.
- Canara Robeco AMC and Orkla India are pursuing pure offers-for-sale, including 4.98 crore shares at Canara Robeco by Canara Bank and ORIX, while Orkla plans to sell 2.28 crore shares held by promoters and existing investors.
- Pine Labs plans a Rs 2,600 crore fresh issue alongside a large OFS by investors, with Rs 870 crore earmarked for debt repayment and Rs 760 crore for technology and infrastructure investments.
- Emmvee targets roughly Rs 3,000 crore with Rs 2,143.86 crore fresh and Rs 856.14 crore OFS focused on loan repayment, while Hero Motors seeks Rs 1,200 crore split between Rs 800 crore fresh and Rs 400 crore OFS with proceeds for debt reduction and capacity equipment; Manipal filed confidentially and is reported to be seeking about Rs 1,200 crore.