Upcoming IPOs: G Surgiwear, Mehta Hitech Industries, 2 others file DRHPs with SEBI for public offers

Upcoming IPOs: Four companies, including G Surgiwear and Vishal Nirmiti, have filed draft red herring prospectuses (DRHPs) with market regulator Securities and Exchange Board of India to raise funds via initial public offerings.

The other companies that have filed preliminary papers are Veegaland Developers and Mehta Hitech Industries.

Mehta Hitech Industries IPO

CNC, laser and digital printing solutions provider Mehta Hitech Industries' initial share sale will be a fresh issuance of 6,200,000 shares, with no offer for sale (OFS) component, according to the DRHP.

The fresh issue proceeds will be utilised for funding capital expenditure needs for civil construction work and towards the purchase of equipment, plant and machinery for establishing a new manufacturing unit in Gujarat, long-term working capital needs and corporate general purposes.

Mehta Hitech Industries is a manufacturer of CO2 laser equipment, fibre laser equipment, CNC routers and digital printers. CO2 laser equipment contains CO2 laser engraving, marking and cutting machines.

Vishal Nirmiti IPO

The proposed IPO of civil engineering and construction company Vishal Nirmiti will be a mix of fresh issuance of shares valued at ₹125 crore and an offer for sale of 15,00,000 shares by promoter Vaman Prestressing Company Private Limited.

The money generated will be utilised for funding working capital needs, debt repayment and general corporate purposes.

It is a civil engineering, manufacturing and construction company, which makes pre-stressed concrete sleepers for railways, precast and prestressed concrete products for various applications and fabrication and erection of mild steel pipes, MS liners and penstock pipes for pumped storage project.

Veegaland Developers IPO

Real estate player Veegaland Developers is seeking to raise ₹250 crore solely via a fresh issuance of equity shares.

The objectives of the offer include part funding of the expense incurred in the development of ongoing and upcoming projects, acquisition of identified and unidentified land parcels and general corporate purposes.

G Surgiwear IPO

Surgical products maker G Surgiwear aims to raise ₹740 crore via a mix of fresh issuance of shares and an OFS component by promoter Ghanshyam Das Agarwal.

The issue proceeds will be utilised for capital expenditure needs for the purchase of machinery, debt clearance and corporate general purposes.

G Surgiwear is engaged in the design, development and manufacturing of an array of surgical products, including disposable drapes, dressings and medical implantable devices, including orthopaedic implants and hydrocephalus shunts, among others.