Upcoming IPOs: Tenneco Clean Air, German Green Steel, Sillverton Industries, others file DRHP to raise funds via public offers; check list

Upcoming IPOs: Dalal Street is set for splendid times as several companies have filed draft red herring prospectuses (DRHP) with the capital markets regulator, the Securities and Exchange Board of India (SEBI), to raise funds through initial public offerings.

Tenneco Clean Air India IPO

Tenneco Clean Air India Limited, which is part of the United States-headquartered Tenneco Group, has filed draft IPO papers with the capital markets regulator to raise ₹3,000 crore via an initial public offering (IPO).

The proposed initial share sale is solely an offer for sale (OFS) by promoter Tenneco Mauritius Holdings Ltd. There is no fresh issue component, as per the draft red herring prospectus (DRHP).

The company is engaged in the manufacturing of highly engineered and technology-intensive clean air, powertrain and suspension solutions specifically designed for Indian OEMs and export markets.

German Green Steel IPO

The capital raised to the tune of ₹325.21 crore will be utilised for the expansion of its manufacturing plant in Gujarat and establishing a hybrid wind and solar power facility, while ₹55.01 crore will be used for debt clearance and corporate general purposes, according to the DRHP.

German Green Steel and Power, a vertically integrated iron and steel manufacturer, focuses on the production of TMT bars and has a strong presence in Gujarat.

Sillverton Industries IPO

The proposed IPO is a fresh issue aggregating to ₹300 crore and an OFS of 3.22 crore equity shares.

Objects of the public offer include capital expenditure needs for sustainability initiatives at existing production plant, expanding the rewinder and sheeter capacity and building in-house warehouses, debt repayment and general corporate purposes.

Sillverton Industries manufactures eco-friendly speciality paper such as writing and printing paper, cupstock paper, kraft paper, and other specialised grade papers.

Hero Motors IPO

The IPO is a fresh issuance of shares valued at ₹800 crore and an OFS of ₹400 crore. The money generated will be used for debt payment, the purchase of equipment, funding inorganic growth and general corporate purposes.

Hero Motors is a distinguished manufacturer of automotive components and solutions and supplies an array of best-in-class products in gears and transmission, bike powertrain systems, alloy and metallic parts, among others.

Shadowfax Technologies IPO

The funds generated will be used to enhance capacity, drive growth, and further investments in network business.

Shadowfax is among the leading logistics service providers in India for e-commerce express parcels as well as value-added services.