Upcoming IPOs: Dhoot Transmission files updated DRHP; Cotec Healthcare, Deepa Jewellers get SEBI's approval to launch issues

Upcoming IPOs: Auto component manufacturer Dhoot Transmission has filed an updated draft red herring prospectus (UDRHP) with capital market regulator Securities and Exchange Board of India (SEBI) to raise funds via an initial public offering (IPO).

The proposed IPO comprises a fresh issue of shares valued at ₹1,400 crore and an offer for sale (OFS) of 1.63 crore shares by promoter selling shareholders.

The funds raised will be used to repay the debt of the company and its subsidiaries, set up new wiring harness manufacturing facilities, and fund inorganic growth through acquisitions and general corporate purposes.

Dhoot Transmission, founded in 1999, designs, makes and supplies critical wiring harnesses that integrate electronic sensors and controllers, terminals, connectors, junction boxes, switches, high-voltage interconnection systems and data cables, offering application-specific architectures across platforms.

Deepa Jewellers, Cotec Healthcare get SEBI's nod to float IPOs

Deepa Jewellers and Cotec Healthcare have received SEBI’s thumbs up to raise funds through IPOs. The two firms received SEBI's observations on May 18.

In SEBI’s parlance, receiving observations is equal to securing a nod to float a public offering.

The initial share sale of Deepa Jewellers is a mix of a fresh issue of shares aggregating to ₹250 crore and an OFS of 1,18,48,340 shares by promoters Ashish Agarwal and Seema Agarwal.

The funds raised will be used for long-term working capital requirements and general corporate purposes.

The company is an organised B2B (business to business) designer, processor and supplier of hallmarked gold jewellery, operating primarily in Karnataka, Andhra Pradesh, Telangana, Tamil Nadu and Kerala.

Cotec Healthcare’s IPO consists of a fresh issue of shares totalling ₹295 crore and an OFS component of 60 lakh shares.

The funds raised will be used for establishing a new project aimed at enhancing existing manufacturing capacities and facilitating the manufacture of new products. A part will also be used for corporate general purposes.

Cotec Healthcare is a key player in the contract development and manufacturing organisation, or CDMO, industry in India.