Amanta Healthcare, Chamunda Electrical File Draft Papers For IPO
While Amanta Healthcare is a mainboard IPO and will be listed on both the NSE and BSE, Chamunda Electrical will list only on the NSE Emerge platform.
Two Gujarat-based companies, Amanta Healthcare Ltd. and Chamunda Electrical Ltd., on Friday filed draft red herring prospectuses for their respective initial public offerings.
Both are only fresh issues and don't include any offer-for-sale component.
Neither of the companies have mentioned the amount that they are targeting to raise from the IPOs in their DRHPs.
While Amanta Healthcare is a mainboard IPO and will be listed on both the NSE and BSE, Chamunda Electrical will list only on the NSE Emerge platform.
The draft papers for the IPOs have been filed at a time when India's primary market has been buzzing, with 62 companies having already mopped up a total of Rs 84,512.6 crore so far, the highest since 2021.
Amanta Healthcare
The Ahmedabad-based company will issue up to 1.25 crore shares through fresh issues. According to the DRHP, not more than 50% of the fresh issue will be reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.
Beeline Capital Advisors Pvt. will be the book-running lead manager to the issue, and Link Intime India Pvt. will be the registrar, it added.
Bhavesh Patel, Vishal Patel, Jayshreeben Patel, Jitendrakumar Patel, and Milcent Appliances Pvt. are the company's promoters.
Amanta Healthcare plans to use Rs 70 crore to fund the requirements for civil construction work and to purchase equipment, plant, and machinery to set up a new manufacturing line of SteriPort at Hariyala village of Kheda in Gujarat.
The company will use Rs 30 crore from the fresh issue to purchase equipment, plant, and machinery for setting up a new manufacturing line for small volume parenteral at Hariyala village of Kheda in Gujarat.
The remaining funds will be used for general corporate purposes.
Amanta Healthcare is a pharmaceutical company engaged in developing, manufacturing, and marketing a diverse range of sterile liquid products.
The company produces parenteral products that are useful for patients, who cannot intake drugs through the oral route or in cases when medicines are not suitable for oral intake.
The company also makes products like irrigation, first-aid solutions, eye lubricants, etc, in the medical device segment.
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Chamunda Electricals
The Palampur-based company will issue up to 35 lakh shares through fresh issue. According to the DRHP, not more than 50% of the fresh issue will be reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.
GYR Capital Advisors Pvt. will be the book-running lead manager for the issue, and KFin Technologies Ltd. will be the registrar, it added.
Chiragkumar Natvarlal Patel, Natvarbhai K Rathod, and Purnikaben C Patel are the promoters of the company.
The company plans to use Rs 1.20 crore for the purchase of new testing kits and equipment and up to Rs 550 lakh towards working capital.
The company will use Rs 3.06 crore for the repayment of term loans and cash credit.
The remaining funds will be used for general corporate purposes.
Chamunda Electricals is in the business of providing specialised services of operation and maintenance of substations up to 66 KV kilovolts, testing and commissioning of electrical substations up to 220 KV, and solar power generation park of 1.5 megawatt capacity.
The company also helps with the erection of EHV class equipment, structures and equipment, earthing, control cable works, and other associated works.
