The Securities and Exchange Board of India (SEBI) has issued observation letters for the IPO plans of National Securities Depository Limited (NSDL), Zinka Logistics Solutions (operating as Blackbuck), and Standard Glass Lining Technology, allowing them to move forward with their public offerings.
NSDL IPO: NSDL, which filed its draft prospectus in July last year, received SEBI’s approval on September 30. The IPO will consist entirely of an offer-for-sale (OFS) by existing investors, including IDBI Bank, NSE, Union Bank, SBI, HDFC Bank, and others, with no fresh issue component. A total of 57.26 million shares will be sold. The company has one year from SEBI’s approval to launch the IPO.
Zinka Logistics Solutions (Blackbuck) IPO: Blackbuck, a Flipkart-backed logistics startup, received SEBI’s go-ahead on October 3. The company aims to raise Rs 550 crore through a fresh issue, alongside an OFS of 2.16 crore equity shares by founders and investors such as Accel India and IFC. Proceeds will be used for sales, marketing, and to boost capital for its NBFC subsidiary.
Standard Glass Lining Technology IPO: Standard Glass Lining Technology, based in Hyderabad, received SEBI’s nod on October 1. Its IPO will include a Rs 250 crore fresh issue and an OFS of 1.84 crore shares by its promoters. The funds will be used for machinery, debt repayment, and corporate growth.
Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com
Source: Moneycontrol
News Desk
