Upcoming IPOs: Manjushree Technopack, Inventurus Knowledge Solutions get SEBI's approval to launch public offers

Upcoming IPOs: Market regulator Securities and Exchange Board of India (SEBI) has given its go-ahead to Rekha Jhunjhunwala-backed Inventurus Knowledge Solutions Ltd and Advent International-backed Manjushree Technopack to raise funds via initial public offerings (IPOs).

The two companies received the market regulator's observations last week. In SEBI's terminology, receiving observation means approval to float an IPO.

Manjushree Technopack IPO

The ₹3,000 crore initial share sale consists of fresh issuance of shares worth ₹750 crore and an offer for sale (OFS) component amounting to ₹2,250 crore. According to the draft red herring prospectus (DRHP), the company has also reserved a portion for eligible employees.

The money raised will be used to repay debt, fund inorganic growth through acquisitions, and serve general corporate purposes.

Manjushree Technopack, established in 1987, is a packaging solutions provider that offers end-to-end capabilities from design to delivery.

Inventurus Knowledge Solutions IPO

The public offer of Inventurus Knowledge Solutions Ltd, which is backed by Rekha Jhunjhunwala and RARE Enterprises, is an OFS of 2.82 crore shares by promoters. There is no fresh issue component, DRHP showed.

Since there is no fresh issue component, the IPO proceeds will go to selling shareholders.

Inventurus Knowledge Solutions offers technology-enabled healthcare solutions and a care enablement platform to assist physician enterprises in the United States, Australia, and Canada.

Shares of both firms will be listed on the National Stock Exchange (NSE) and the BSE.

The four firms filed their DRHPs with the market regulator between July and August. Rubicon Research seeks to raise ₹1,085 crore through a public issue, while Sanathan Textiles' offer size is ₹800 crore.