SEBI gives permission to Matrimony.com and Shalby Hospitals to float IPOs

Many companies wish to be listed on the Indian bourses in the positive environment, when the markets are touching record new highs. The market watchdog, SEBI has recently given permission to Shalby Hospitals and Matrimony.com to bring in their respective Initial Public Offerings (IPOs).
 
India’s leading matchmaking and marriage services provider Matrimony.com’s IPO would consist of a fresh issue summing up to Rs 1,300 million and an offer for sale of up to 3,767,254 equity shares.In 2017, a total of 21 companies got SEBI’s nod to float their IPOs.
 
The equity shares of the company will have a face value of Rs 5 each, with the issue structured on book building basis. However, the price band of the offering is yet to be decided by the company.
 
The fund raised by IPO will be utilised for advertising and business promotion activities, land purchase for office construction in Chennai, repayment of overdraft facilities and general corporate purposes.
 
On the other hand, Shalby’s public issue comprises fresh sale of shares of Rs 580 crores, besides an offer for sale of 10 lakh shares by promoter Vikram Shah, as per the filed DRHP.
 
Repayment of certain borrowings availed by the company would be taken care of by the proceeds of the IPO. Also, the company plans to spend the funds for the purchase of infra and interior of hospitals and a part will be kept for general corporate purposes.