Upcoming IPOs: GK Energy, GNG Electronics, others file draft papers to raise funds via public offers; check list

Upcoming IPOs: Solar-powered agricultural water pump systems provider GK Energy, laptop and desktop refurbisher GNG Electronics, and two other companies have filed preliminary papers with capital markets regulator Securities and Exchange Board of India (SEBI) to raise funds via initial public offerings (IPOs).

Stock market broker Anand Rathi Share and Stock Brokers, and fine jewellery maker BlueStone Jewellery and Lifestyle have also filed their draft red herring prospectus (DRHP) with SEBI.

GK Energy IPO

GK Power's proposed IPO is a mix of a fresh issue worth ₹500 crore and an offer-for-sale (OFS) component of 84 lakh equity shares, according to draft IPO papers.

The company is considering a pre-IPO placement of shares valued at ₹100 crore. If such placement takes place, the fresh issue portion will be reduced.

The funds generated will be used to the tune of ₹422.46 crore for long-term working capital requirements and serve corporate general purposes.

GK Energy is a key provider of engineering, procurement, and commissioning services for solar-backed agricultural water pump systems.

GNG Electronics IPO

The public offer of GNG Electronics, which operates under the brand name "Electronics Bazaar", consists of a new offering of shares worth ₹825 crore and an OFS of 97 lakh shares.

Under the OFS, Amiable Electronics will offload 96.30 lakh shares, and Vidhi Sharad Khandelwal and Sharad Khandelwal will divest 35,000 shares each.

The money raised will be used to clear off debt, working capital requirments and general corporate purposes.

GNG Electronics is a key refurbisher of desktops and laptops with a presence in India, Europe, the United States, Africa, and the United Arab Emirates (UAE).

BlueStone Jewellery and Lifestyle IPO

BlueStone Jewellery and Lifestyle, which offers fine jewellery under its flagship brand "BlueStone", is looking to raise ₹1,000 crore via a fresh issue. It also has an offer for sale (OFS) component of 2.4 crore equity shares.

The IPO proceeds will be used for working capital requirements and general corporate purposes.

Anand Rathi Share and Stock Brokers IPO

The initial public offering of Anand Rathi Share and Stock Brokers, the brokerage arm of Anand Rathi Group, is seeking to raise ₹745 crore.

The proposed issue will be exclusively an OFS, and the proceeds will go to the selling shareholder.

It is looking to raise ₹149 crore in a pre-IPO placement. If such placement takes place, the issue size will be reduced.