Trans ACNR Solutions, 8 others file IPO papers with SEBI

Nine companies, including Trans ACNR Solutions and Maharashtra Oil Extractions have filed preliminary papers with markets regulator SEBI for IPOs, joining a growing list of firms tapping the primary market to raise capital for expansion, debt repayment and other corporate requirements.

Trans ACNR Solutions has filed its preliminary papers through the confidential pre-filing route, while the other eight firms -- Maharashtra Oil Extractions, Jagatjit Agri Engineering, Jai Parvati Forge, Koolking Industries India, Sai Infinium, SG Encon, Mount Everest Breweries and Ultravibrant Integrated Energy -- have filed standard public draft documents with SEBI.

The proposed initial public offerings (IPOs) are aimed at raising funds for a range of purposes, including business expansion, working capital requirements, repayment of debt and general corporate purposes.

Under the confidential pre-filing mechanism, companies can submit draft offer documents to SEBI and stock exchanges without immediately making them available in the public domain. The documents are disclosed at a later stage after regulatory review.

Consequently, details of Trans ACNR Solutions' proposed IPO, including the offer size, structure, financial performance, valuation and timeline for the share sale, are not available at this stage.

In a public notice, the company said it has filed the "pre-filed draft red herring prospectus with SEBI and the stock exchanges" in connection with its proposed IPO of equity shares on the main board of the stock exchanges.

Among the companies that have made their IPO details public, Maharashtra Oil Extractions has proposed a fresh issue of up to ₹370 crore and an an offer for sale (OFS) of up to 2.14 crore equity shares by promoters, according to the draft red herring prospectus (DRHP).

The company, incorporated in 1995, is engaged in processing, manufacturing, marketing and sale of products across the soybean value chain, including crude and refined edible oil, plant-based protein supplements, soya meal, soya flour and textured soya protein, besides lecithin and other speciality and industrial chemicals.

Jagatjit Agri Engineering's proposed share sale comprises a fresh issue of equity shares worth up to ₹300 crore and an OFS of up to 31 lakh equity shares by promoter Jagatjit Singh, according to its DRHP.

Ludhiana-based Jagatjit Agri Engineering, incorporated in 2020, manufactures agricultural implements and provides end-to-end crop solutions.

Mohali-based Jai Parvati Forge has proposed an IPO comprising a fresh issue of up to ₹300 crore and an OFS of up to 90 lakh equity shares by promoter Suman Chauhan.

Incorporated in 2004, the company manufactures forged and machined components, including bull gears, transmission gears and shafts and precision-machined parts.