Upcoming IPOs: Ather Energy, Schloss Bangalore, 4 other companies get SEBI's approval to launch public offers; check list

Upcoming IPOs: Electric vehicle maker Ather Energy, Leela Palace parent firm Schloss Bangalore, solar water pump manufacturer Oswal Pumps, and three other companies have received approval from the markets regulator, the Securities and Exchange Board of India, to float their initial public offerings (IPOs).

Other companies that have received SEBI's nod include enterprise technology solutions provider ivalue Infosolutions, transnational pharmaceutical engineering company Fabtech Technologies, and energy transmission equipment manufacturer Quality Power Electrical Equipments.

Ather Energy IPO

The initial public offer of Ather Energy is a mix of a fresh issue worth ₹3,100 crore and an offer-for-sale of 2.2 shares.

Under the OFS, Caladium Investment Pte Ltd, 3State Ventures Pte Ltd, National Investment and Infrastructure Fund II, IITM Incubation Cell and IITMS Rural Technology and Business Incubator will offload their stake.

The money raised will be used to set up an electric two-wheeler manufacturing facility in Maharashtra, invest in research and development, marketing, debt repayment and corporate general purposes.

Schloss Bangalore IPO

Leela Palaces Hotels & Resorts operator Schloss Bangalore Ltd's ₹5,000 crore IPO is a mix of fresh issuance of shares worth ₹3000 crore and an IFS of ₹2000 crore.

Schloss Bangalore, which Brookfield Asset Management backs, said the issue proceeds will be used to clear debt and for general corporate purposes.

Schloss Bangalore runs 12 operational hotels under "The Leela" brand across ten destinations in the country.

Oswal Pumps IPO

Oswal Pumps's initial share sale consists of ₹1,000 crore worth of fresh issue and an OFS of 1.13 crore shares.

The company will use the money generated for certain capital expenditures, investments in wholly-owned subsidiaries, the establishment of a new manufacturing unit, and general corporate purposes.

Starting operations in 2003, Oswal Pumps manufactures low-speed monoblock pumps, grid-connected submersible pumps, grid-connected high-speed monoblock pumps and electric motors.

Fabtech Technologies IPO

Fabtech Technologies' book-built issue is exclusively a fresh issue of 1.20 crore equity shares. The company has also reserved a portion for eligible employees.

Fabtech Technologies is a turnkey engineering solutions provider for the pharma, healthcare and biotech industries.

iValue Infosolutions IPO

The public offer of iValue Infosolutions, which private equity firm Creador backs, is solely an OFS of up to 1.87 crore shares.

iValue Infosolutions is a premium technology services and solutions aggregator, providing purpose-built solutions for securing and managing digital applications and data.

Quality Power Electrical Equipment IPO

Quality Power Electrical Equipment is an energy transmission equipment and power technologies firm. Its initial share sale is a mix of fresh issue worth ₹225 crore and an OFS of 1.2 crore.