Arkade Developers, Juniper Hotels, and two more approved for Sebi IPOs
Real Estate

Arkade Developers, Juniper Hotels, and two more approved for Sebi IPOs

As per Securities and Exchange Board of India (Sebi) updates, approval has been granted to four companies, namely Juniper Hotels (operator of hotels under the Hyatt brand), Arkade Developers, CJ Darcl Logistics (logistic firm), and Indo Farm Equipment (manufacturer of tractors, pick and carry cranes, and other farm equipment), to raise funds through initial public offerings (IPOs).

The regulatory nod for these companies, which submitted their preliminary IPO papers to Sebi between September and October 2023, was received during January 24-29. In the terminology of Sebi, the receipt of the regulator's observation signifies approval to proceed with the public issue.

Interestingly, Sebi has chosen to return the draft IPO documents of Kronox Lab Sciences and Shree Tirupati Balajee Agro Trading Company without providing any explanation for this decision, as indicated in the update.

Juniper Hotels, in its proposed maiden public issue, plans to issue entirely fresh equity shares valued at Rs 18 billion. The company intends to allocate the net proceeds of Rs 15 billion for debt repayment, while a portion of the funds will be earmarked for general corporate purposes.

As per Securities and Exchange Board of India (Sebi) updates, approval has been granted to four companies, namely Juniper Hotels (operator of hotels under the Hyatt brand), Arkade Developers, CJ Darcl Logistics (logistic firm), and Indo Farm Equipment (manufacturer of tractors, pick and carry cranes, and other farm equipment), to raise funds through initial public offerings (IPOs). The regulatory nod for these companies, which submitted their preliminary IPO papers to Sebi between September and October 2023, was received during January 24-29. In the terminology of Sebi, the receipt of the regulator's observation signifies approval to proceed with the public issue. Interestingly, Sebi has chosen to return the draft IPO documents of Kronox Lab Sciences and Shree Tirupati Balajee Agro Trading Company without providing any explanation for this decision, as indicated in the update. Juniper Hotels, in its proposed maiden public issue, plans to issue entirely fresh equity shares valued at Rs 18 billion. The company intends to allocate the net proceeds of Rs 15 billion for debt repayment, while a portion of the funds will be earmarked for general corporate purposes.

Next Story
Infrastructure Urban

Larsen & Toubro Secures Contract from Defence Ministry

The Ministry of Defence, Government of India, has awarded a significant contract to Larsen & Toubro (L&T) for supplying K9 Vajra-T Artillery Platforms to the Indian Army. As per the company's project classification, the contract is valued between Rs 50 billion and Rs 100 billion. The K9 Vajra-T, a 155 mm, 52-calibre tracked self-propelled artillery platform, is an adaptation of the globally renowned South Korean K9 Thunder howitzer. It has been co-developed by L&T and Hanwha Aerospace to meet the Indian Army's specific operational needs across diverse terrains, including deserts, plains, and..

Next Story
Real Estate

Delhi-NCR Housing Market sees 25% Sales Growth

The Delhi-NCR property market has maintained its momentum during the December quarter, with housing sales and new supply estimated to grow by 25 per cent and 59 per cent, respectively, as reported by PropEquity. Data from the real estate analytics firm suggests that housing sales in Delhi-NCR are likely to rise to 12,915 units during the October-December period of this year, compared to 10,354 units in the corresponding period of the previous year. New supply in the region is expected to increase significantly, reaching 11,223 units, a 59 per cent rise from 7,072 units in the year-ago quarter..

Next Story
Infrastructure Urban

DDC Approves Five Key Projects Under Kasaragod Development Package

The District Development Committee (DDC) has approved a budget of Rs 100.08 million for five key projects under the Kasaragod Development Package. This funding is part of the Rs 700 million allocated in the State budget for the 2024-25 financial year, with administrative approval formally amended to incorporate these initiatives. The decision was made during a meeting chaired by District Collector K. Inbasekar on Saturday, December 21. The approved projects include Rs 40.99 million for constructing Udayapuram Thungal Road in Kottom Belur grama panchayat and Rs 20.56 million for setting up a ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000