Upcoming IPOs: Prestige Hospitality Ventures, Anand Rathi Share and Stock Brokers, 3 others get Sebi's nod for IPOs

Others that received regulatory clearance are SSF Plastics India, Gujarat Kidney and Super Speciality, and EPack Prefab Technologies.

These companies, which filed their preliminary IPO papers between January and April, obtained Sebi's observations during the week, as per the update.

In Sebi's parlance, receiving observations is equivalent to getting the go ahead to proceed with a public issue.

Prestige Hospitality Ventures, an arm of realty firm Prestige Estates Projects, is aiming to raise ₹2,700 crore through its IPO, comprising a fresh issue of equity shares valued at ₹1,700 crore, and an offer-for-sale (OFS) of equity shares worth ₹1,000 crore, according to the draft red herring prospectus (DRHP).

The OFS comprises equity shares by promoter Prestige Estates Projects Ltd.

The proposed IPO of Anand Rathi Group's brokerage arm, Anand Rathi Share and Stock Brokers, is entirely a fresh issue of shares of up to ₹745 crore.

Proceeds of the IPO to the tune of ₹550 crore will be used to fund the company's long-term working capital requirements and general corporate purposes.

Further, SSF Plastics India's ₹550 crore IPO comprises a fresh issue of equity shares worth ₹300 crore and an OFS of ₹250 crore by promoters and promoter group entities.

Proceeds from the fresh issue will be utilised for payment of debt, funding capital expenditure requirements for purchase of plant and machinery and for general corporate purposes.

EPack Prefab Technologies' IPO comprises fresh issues of shares worth ₹300 crore and an Offer For Sale (OFS) of 1 crore shares by promoters.

The company will use the funds for setting up a new manufacturing facility at Ghiloth Industrial Area in Alwar, Rajasthan, expansion of the existing manufacturing facility at Mambattu in Andhra Pradesh, payment of debt and for general corporate purposes.

Healthcare company Gujarat Kidney and Super Speciality's maiden public issue is entirely a fresh issue of equity shares of up to 2.2 crore equity shares.

Proceeds of the IPO will be used for proposed acquisition of Parekhs Hospital in Ahmedabad, part-payment of purchase consideration for the already acquired Ashwini Medical Centre, setting up a new hospital in Vadodara, and buying robotics equipment for the hospital in Vadodara.

Additionally, proceeds will be used for debt repayment, funding inorganic growth through unidentified acquisitions & general corporate purposes.