Upcoming IPOs: Bluestone Jewellery, Anthem Biosciences, 2 others get SEBI's nod for public issues; check list

Upcoming IPOs: The market regulator, the Securities and Exchange Board of India (SEBI), has given the go-ahead to four companies to raise funds via initial public offerings (IPOs). They include Anthem Biosciences, GK Energy, Aye Finance, and BlueStone Jewellery and Lifestyle.

The four companies are collectively looking to raise ₹6,345 crore through public issues. These firms received SEBI's observations between April 1 and 3. In SEBI's terminology, obtaining the observations means its approval for the IPO.

Anthem Biosciences IPO

The ₹3,395 crore Anthem Biosciences IPO is exclusively an offer for sale (OFS) by promoters and existing investors. There is no fresh component, according to a Draft Red Herring Prospectus (DRHP).

The Bengaluru-based company is a Contract Research, Development, and Manufacturing Organisation (CRDMO) with operations spanning drug discovery, development, and manufacturing. It is among the few firms in India with integrated New Chemical Entity (NCE) and New Biological Entity (NBE) capabilities.

Aye Finance IPO

The initial public offering of non-banking financial company (NBFC) Aye Finance is a mix of a fresh issuance of equity shares aggregating to ₹885 crore and an OFS of ₹565 crore.

The money generated will be used to augment the NBFC's player capital base and for corporate general purposes.

BlueStone Jewellery IPO

BlueStone Jewellery and Lifestyle's initial share sale is a fresh issue of ₹1,000 crore as well as an OFS of 2.4 crore shares.

Under the OFS, Kalaari Capital Partners II LLC, Saama Capital II Ltd, Sunil Kant Munjal, and others will divest their stake.

Funds to the tune of ₹750 crore will be used for working capital needs and corporate general purposes.

GK Energy IPO

The IPO of GK Energy, which provides solar-powered agricultural water pump systems, is a fresh issuance of ₹500 crore and an OFS of 84 lakh shares.

The fresh issue proceeds will be used for long-term working capital needs and general corporate purposes.