VLCC, Inspira, Tarsons, Latent View Analytics join IPO queue.
The list of Indian companies rushing to sell their shares on the stock markets for the first is getting longer by the day as benchmark indexes remain near record highs.
VLCC Health Care, Inspira Enterprise, Tarsons Products and Latent View Analytics are the latest to file their draft prospectuses with the Securities and Exchange Board of India for initial public offerings.
Beauty and wellness chain VLCC’s planned IPO comprises a fresh issue of shares worth Rs 300 crore and a secondary sale of 8.92 million shares by company promoter Mukesh Luthra and private equity firm Everstone.
IIFL Securities, ICICI Securities and DAM Capital Advisors are the bankers arranging the proposed IPO.
This is VLCC’s second attempt to go public. It had previously filed for an IPO in September 2015 and received SEBI approval three months later. However, it didn’t go through with the share sale at the time. VLCC was set up almost 25 years ago by Vandana Luthra. It offers weight management services, wellness programmes, personal care and nutraceutical products, and skill development training.
It runs 216 clinics across India and a dozen other countries in Asia and Africa.The company reported a net profit of Rs 6.24 crore on revenue of Rs 532.91 crore.
Inspira Enterprise India, a cybersecurity and digital transformation services provider, aims to mop up Rs 800 crore through its IPO. The offering comprises a fresh issue of Rs 300 crore and an offer for sale of Rs 500 crore by its promoters Prakash Jain, Manjula Jain Family Trust and Prakash Jain Family Trust.
The company plans to use the fresh capital for working capital requirements (Rs 109.63 crore), debt repayment (Rs 115.37 crore) and general corporate purposes.Inspira has a global presence across several verticals. As of March 2021, it has operations across India, the US, Southeast Asia, the Middle East and Africa.
Kolkata-based Tarsons makes consumable products for laboratories, diagnostic chains and hospitals.
Tarsons is looking to raise Rs 150 crore through a fresh issue of shares while its founders and private equity firm ADV Partners will make an offer for sale of 13.2 million shares in the IPO.
Tarsonsclocked revenue of Rs 229 crore and a net profit of around Rs 69 crore for 2020-21.
The company’s end customers include academic institutes and research organisationssuch as the Indian Institute of Chemical Technology, drugmakers Dr Reddy's Laboratories and Enzene Biosciences, clinical research firms such as Syngene International and Veeda, and pathology chains like Metropolis and Dr Lal PathLabs.
Tarsons operates five manufacturing facilities in West Bengal. It supplies its products to over 40 countries. Overseas sales accounted for Rs 75.6 crore, or a third of its total revenue, in 2020-21.
Latent View Analytics
The data analytics services provider plans to raise Rs 600 crore through the IPO. The offering comprises a fresh issue of Rs 474 crore, and an offer for sale of Rs 126 crore by its promoters and individual investors.
The company says it will use the net proceeds from the fresh issue to finance inorganic growth initiatives and general corporate purposes. It will also use some money to meet the working capital requirements of unit Latent View Analytics Corporation, and to invest in other subsidiaries.
The company provides services to blue-chip companies in technology, financial services, consumer products, retail and other sectors across the US, Europe, and Asia. It says its clients over the last three years include Adobe, Uber and 7-Eleven.
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