Public Market IPO
Realtor Casagrand, Bonfiglioli Transmissions get Sebi’s nod for IPOs
Source Bonfiglioli Transmissions (opens in a new tab)Casagrand (opens in a new tab)Bonfiglioli Transmissions (opens in a new tab)Business Line (opens in a new tab)
Capital markets regulator Sebi has granted approval to two Chennai-based firms - Bonfiglioli Transmissions and Casagrand Premier Builder - to launch initial public offerings.The IPO of Casagrand includes a fresh issue of Rs.1,200-Cr and an offer for sale of Rs.20-Cr by promoters. The firm intends to use Rs.250-Cr from the fresh issuance to repay or prepay certain outstanding borrowings.Additionally, Rs.650-Cr is allocated for the repayment of borrowings by its wholly owned and step-down subsidiaries.Bonfiglioli Transmissions , a provider of power transmission and industrial drive solutions, has received observations from Sebi for an offer for sale of 4.70 crore shares by its promoter.