IPO
Consumer electronics player Sathya Agencies gets Sebi’s nod for Rs.600-Cr IPO
Thoothukudi, Tamil Nadu-headquartered Sathya Agencies has received approval from the Securities and Exchange Board of India (Sebi) to launch an initial public offering of INR 600 crore. The public issue comprises a fresh issue of INR 300 crore and an offer for sale of INR 300 crore by the promoters, Johnson Asaria, J John Sathya, and Charles Packiaraj.The company is a consumer durables and electronics-focused retail player based in South India. It manages commercial relationships with over 150 domestic and global original equipment manufacturers and distributors, including brands such as LG, Blue Star, Daikin, Whirlpool, Haier, Sony, Havells, Panasonic, and O General.The company intends to use the net proceeds from the fresh issue to fund the acquisition of its wholly owned subsidiary, Unilet Appliances, for INR 35 crore, and to repay or prepay INR 175 crore of outstanding borrowings.
For FY25, Sathya Agencies had reported about INR 3,500 Cr in Operating Income and about INR 49 Cr in PAT.
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