Dedicated locality research platform
Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
The Securities and Exchange Board of India (SEBI) has granted permission to Arkade Developers, Juniper Hotels and CJ Darcl Logistics to move forward with their initial public offerings (IPOs). Getting the go-ahead to raise financing from the capital markets is a big step forward for these companies.
Juniper Hotels stands out from the other approved IPOs with its plan to raise INR 1,800 crore via a first public offering. The primary use of the proceeds from this offering will be debt repayment, which is an important step for the company's financial stability. The hospitality company Juniper Hotels, which is jointly controlled by Two Seas Holdings Ltd and Saraf Hotels Ltd, intends to use a sizable amount of the net proceeds for this. Additionally, the company aims to allocate a portion of the funds for general corporate purposes, ensuring flexibility in its operations and strategic initiatives.
Another important player in this lineup, Arkade Developers, has been given approval for an IPO that will comprise only newly issued equity shares valued at INR 430 crore. The company is committed to advancing its real estate development activities, as evidenced by its focus on using this money for its planned and ongoing projects. Furthermore, as a calculated step to strengthen its portfolio and increase its market position, Arkade Developers plans to use a portion of the funds to purchase further real estate projects in the future. In addition, the business intends to use the money for basic corporate functions, guaranteeing sustainability and operational effectiveness.
The approval for the IPO of CJ Darcl Logistics, a diversified logistics company with a presence throughout India, has also been obtained. The offering consists of an Offer For Sale (OFS) component of 54.31 lakh shares by the promoters, as well as a new issue of equity shares valued at INR 340 crore. The principal aim of the company is to apply the proceeds of the new issue to finance capital expenditure needs, specifically for the acquisition of electric vehicles (EVs), which is in line with sustainability efforts, and debt repayment. CJ Darcl Logistics also wants to set aside money for general business needs in order to maintain operational stability and expansion.
All things considered, the market's optimism and investor trust in these companies' growth potential are reflected in the acceptance of these IPOs. By strategically using their financial resources to pay off debt, grow their businesses, and invest in new projects, these organizations are well-positioned to seize new opportunities and promote long-term, steady growth in their industries.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
