After a busy month of 8 IPOs in September, three more companies have filed their draft offer documents with the Securities and Exchange Board of India (SEBI) this week- Brookfield REIT, Suroyaday Small Finance Bank and RailTel Corporation of India.
Government-owned RailTel Corporation of India has filed papers to raise Rs 700 crore through an initial public offering (IPO). This will be entirely an offer-for-sale issue wherein the government will offload 8.66 crore equity shares.
ICICI Securities, IDBI Capital, SBI Capital Markets Ltd are merchant bankers to the issue.
RailTel Corporation's IPO to dilute 25 percent stake in the company was approved by the Union Cabinet in December 2018. It is a "Miniratna" enterprise of the Government of India with a focus on providing broadband and VPN services.
Suroyaday Small Finance Bank Limited's Draft Red Herring Prospectus shows that it is offering to sell over 2 crore shares via an IPO. The small finance bank plans to utilise the proceeds from the fresh issue towards augmenting the bank's Tier - 1 capital base in order to meet the bank's future capital requirements.
International Financial Corporation (IFC), Gaja Capital, HDFC Holdings, IDFC First Bank, Kotak Mahindra Life Insurance Company, DWM (International) Mauritius Ltd, and Americorp Ventures will be offering their shares in the bank for sale.
Brookfield REIT's IPO will include fresh issuance of shares totalling up to Rs 3,800 crore and an additional component for an offer for sale.
The REIT (real-estate investment trust) is an affiliate of Brookfield Asset Management, one of the world's largest alternative asset managers with around $550 billion in assets under management as of June-end.
Proceeds from its issue will be utilised towards partial or full pre-payment or scheduled repayment of the existing debt of asset special purpose vehicles (SPVs), and for general purposes.