There is important news for investors who want to earn money through IPOs in the stock market. The market regulator Securities
and Exchange Board of India (SEBI) has approved three companies—Bonbloc Technologies, Eastman Auto & Power, and Milestone Gears—to raise funds through Initial Public Offerings (IPOs).
This approval has come at a time when the stock market is experiencing significant volatility. Even with these fluctuations, many companies are still planning to enter the public market through IPOs.
Bonbloc Technologies IPO Details
Bonbloc Technologies plans to raise ₹233 crore through its IPO. The issue will include:
Fresh issue: Shares worth ₹160 crore
Offer for Sale (OFS): 71.86 lakh shares by existing shareholders
The global IT company plans to list its shares on both the National Stock Exchange of India (NSE) and the BSE Limited (BSE).
KFin Technologies has been appointed as the registrar for the IPO. Through the fresh issue, the company will raise new capital, while the OFS will allow current shareholders to sell part of their holdings.
Eastman Auto & Power IPO Plan
Energy transition and power electronics company Eastman Auto & Power also received SEBI approval for its IPO on March 5.
The company plans to raise between ₹1,800 crore and ₹2,000 crore through the public offering. The IPO will include:
Fresh issue of shares
Offer for Sale (OFS) by existing shareholders
The company’s shares will also be listed on the National Stock Exchange of India and the BSE Limited.
Eastman Auto & Power is part of the JRS Eastman Group and works in areas such as battery storage, solar technology, and power electronics solutions.
The lead managers for the IPO are:
Axis Capital
JM Financial
Motilal Oswal Investment Advisors
Milestone Gears IPO Details
Milestone Gears is planning to raise about ₹1,100 crore through its IPO.
The issue will include:
Fresh issue: ₹800 crore
Offer for Sale: ₹300 crore by promoters
The company plans to use the funds to:
Repay existing debt
Build a new manufacturing plant in Solan district of Himachal Pradesh
Meet general corporate expenses
Milestone Gears is an engineering company that manufactures important components such as bull gears, rear axles, spindles, internal ring gears, and bevel gears.
These parts are used in tractors, construction equipment, electric vehicles, locomotives, and windmills.
The company supplies its products to major clients including:
Mahindra & Mahindra
Caterpillar Inc.
JCB
John Deere
