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Netweb Technologies India has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise as much as Rs 700 crore through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares worth Rs 257 crore and an offer for sales of 85 lakh equity shares by promoters.

Proceeds of the fresh issue to the tune of Rs 32.77 crore will be used to fund capital expenditure, Rs 128.02 crore to support long-term working capital, Rs 22.5 crore for debt payment, besides, general corporate purposes. Equirus Capital and IIFL Securities are the book-running lead managers to the issue. The equity shares of the company will be listed on the BSE and NSE.

Netweb Technologies is one of the country`s leading high-end computing solutions (HCS) providers. It is one of the few original equipment manufacturers (OEMs) in the country and is a recipient of production-linked incentives schemes of the Government of India.

JG Chemicals has received the Securities and Exchange Board of India’s (SEBI`s) approval to float an initial public offering (IPO). The IPO comprises fresh issue of equity shares worth up to Rs 202.50 crore and an offer-for-sale (OFS) of 57 lakh equity shares by its existing promoter group shareholders. Equity shares of the company will be listed on BSE and NSE.

The company, which filed the draft red herring prospectus with the SEBI in January 2023, got the regulator’s approval on March 20, 2023. Proceeds from the fresh issue will be used for investment in its material subsidiary BDJ Oxides. It will use Rs 45 crore in repayment of borrowings availed by its arm, Rs 5.31 crore will be used for setting up a Research & Development centre, Rs 65 crore will be used to fund the long-term working capital requirements of its material arm. It will also use Rs 35 crore for funding the long-term working capital requirements of the company and other general corporate purposes. Centrum Capital, Emkay Global Financial Services and Keynote Financial Services are the book-running lead managers to the issue.

The Kolkata-based firm is India`s largest zinc oxide manufacturer in terms of production and revenue.

IndiaFirst Life Insurance Company has received the Securities and Exchange Board of India’s (SEBI) approval to float an initial public offering (IPO). The IPO comprises a fresh issue of up to Rs 500 crore along with an offer for sale (OFS) of up to 14,12,99,422 equity shares by the promoters and existing shareholders of the company.

The company, which filed the draft red herring prospectus with the SEBI in October 2022, got the regulator’s approval on March 15, 2023. The net proceeds from the fresh issuance worth Rs 500 crore will be used towards augmentation of its capital base to support solvency levels.

ICICI Securities, Ambit, BNP Paribas, BOB Capital Markets, HSBC Securities and Capital Markets (India), Jefferies India and JM Financial are the book-running lead managers to the issue. The equity shares will be listed on the BSE and NSE.

IndiaFirst Life Insurance Company (IndiaFirst Life) is one of the fastest growing private life insurers in India. IndiaFirst Life is supported by an extensive bancassurance network provided by Bank of Baroda and Union Bank, two of India`s biggest public sector banks.

Tata Technologies, a subsidiary of Tata Motors, has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The equity shares of the company are proposed to be listed on both -- NSE and BSE.

The IPO is purely an offer for sale (OFS), where the company will sell up to 9.57 crore equity shares representing approximately 23.60 per cent of its paid-up share capital.  Under the OFS, Tata Technologies` parent company Tata Motors will offload 8.11 crore shares or a 20 per cent stake in the company. JM Financial, Citigroup Global Markets India and BofA Securities India are the book running lead managers to the issue.

Tata Technologies is a leading global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers (OEMs).

IRM Energy has received the Securities and Exchange Board of India’s (SEBI`s) approval to float an initial public offering (IPO). The IPO comprises fresh issue of up to 1.01 crore equity shares by existing shareholders.

Proceeds from the issue will be used to fund capital expenditure requirements for development of the city gas distribution network at Namakkal and Tiruchirapalli in Tamil Nadu, for payment of debt and other general corporate purposes. The company is expected to fetch Rs 650-700 crore through the IPO.

IRM Energy provides piped natural gas (PNG) and compressed natural gas (CNG). It has operations in states including Gujarat, Punjab and Tamil Nadu.

FirstMeridian Business Services has received the Securities and Exchange Board of India’s (SEBI`s) approval to float an initial public offering (IPO). The company’s Rs 740-crore IPO comprises fresh issuance of equity shares worth Rs 50 crore and an Offer-For-Sale (OFS) of Rs 690 crore.

As a part of the OFS, the company’s promoter Manpower Solutions will sell shares worth Rs 615 crore, while existing shareholders New Lane Trading LLP and Seedthree Trading LLP would sell shares worth Rs 42.5 crore and Rs 32.5 crore, respectively. The company plans to utilise the net proceeds from the fresh issue towards the payment of debt and general corporate purposes.

FirstMeridian Business Services provides a wide range of service offerings, including general staffing and allied services, by offering solutions for contract staffing, workforce automation, trade marketing, and global technology through short and long-term technology contract staffing.

ideaForge Technology has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The public issue comprises fresh issue of equity shares worth Rs 300 crore and an offer for sale (OFS) of 48,69,712 equity shares by one of the promoters and existing shareholders.

Proceeds from the fresh issuance to the tune of Rs 50 crore will be utilised for debt payment, Rs 135 crore towards funding working capital requirements and Rs 40 crore for investment in product development and general corporate purposes. JM Financial and IIFL Securities are the book running lead managers to the issue.

Founded in 2007, ideaForge Technology has the largest operational deployment of indigenous Unmanned Aerial Vehicles (UAVs) across India, with its drones taking off every five minutes on average for surveillance and mapping.

FirstMeridian Business Services has refiled draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) and reduced its Initial Public Offering (IPO) size to Rs 740 crore from Rs 800 crore planned earlier. The initial share-sale comprises fresh issuance of equity shares worth Rs 500 crore and an Offer For Sale (OFS) of Rs 690 crore.

The company has proposed to utilise the net proceeds from the fresh issue towards the payment of debt and general corporate purposes. JM Financial, DAM Capital Advisors, Edelweiss Financial Services and IIFL Securities are the book running lead managers to the issue. The equity shares are proposed to be listed on BSE and NSE.

Incorporated in 2018, FirstMeridian provides a wide range of service offerings, including general staffing and allied services, by offering solutions for contract staffing, workforce automation, trade marketing, and global technology through short and long-term technology contract staffing.

Udayshivakumar Infra has received the Securities and Exchange Board of India’s (SEBI`s) approval to float an initial public offering (IPO). IPO consists of fresh issue of equity shares aggregating to Rs 60 crore. The equity shares are proposed to be listed on BSE and NSE.

The company, which filed the draft red herring prospectus with the SEBI in September 2022, got the regulator’s approval on January 16, 2023. Proceeds of the issue will be used to fund incremental working capital requirements and general corporate purposes.

Udayshivakumar Infra is in the business of construction of roads. It bids for roads, bridges, canals, and industrial area construction projects in Karnataka, including government departments.

Avalon Technologies has received the Securities and Exchange Board of India’s (SEBI`s) approval to float an initial public offering (IPO). The IPO comprises fresh issue of equity shares worth up to Rs 400 crore and an Offer-for-Sale (OFS) aggregating up to Rs 625 crore by promoters and existing shareholders.

The company, which filed the draft red herring prospectus with the SEBI in August 2022, got the regulator’s approval on January 16, 2023. The company may consider raising Rs 80 crore through a pre-IPO placement, and if such a placement is undertaken, the size of the fresh issue will be reduced. Proceeds from the fresh issue would be used towards debt payment, funding working capital requirements and general corporate purposes. The equity shares are proposed to be listed on BSE and NSE.

Avalon is an end-to-end electronic manufacturing service solutions provider and counts Kyosan India, Zonar Systems Inc, Collins Aerospace, e-Infochips, The US Malabar Company, Meggitt (Securaplane Technologies Inc) and Systech Corporation as some of its key clients.