The Securities and Exchange Board of India has approved initial public offering proposals from Bonbloc Technologies, Eastman Auto and Power, and Milestone Gears, enabling the companies to proceed with plans to raise capital from public markets.
The approvals come as several companies continue preparations to access equity markets despite ongoing volatility in share markets.
Bonbloc Technologies IPO Structure
Information technology company Bonbloc Technologies plans to raise approximately ₹233 crore through its proposed initial public offering.
The public offer will comprise two components. The first is a fresh issue of shares worth ₹160 crore, while the second component will consist of an offer for sale in which existing shareholders will sell around 71.86 lakh shares.
Through the fresh issue component, the company intends to raise new capital, while the offer for sale will allow existing investors to monetise part of their shareholding.
Bonbloc Technologies plans to list its shares on the National Stock Exchange and the Bombay Stock Exchange. KFin Technologies has been appointed as the registrar for the issue.
Eastman Auto and Power IPO Size
Eastman Auto and Power has also received approval from the Securities and Exchange Board of India to proceed with its public offering.
According to available information, the size of the proposed IPO is estimated to be between ₹1,800 crore and ₹2,000 crore. The issue will include both a fresh issue of shares and an offer for sale by existing shareholders.
Eastman Auto and Power is part of the JRS Eastman Group and operates primarily in battery storage, solar technology and power electronics solutions.
Axis Capital, JM Financial and Motilal Oswal have been appointed as the lead managers for the issue and will manage the offering process and investor participation.
Milestone Gears Public Offer Plan
Milestone Gears is also preparing to raise capital through an initial public offering estimated at around ₹1,100 crore.
The public offer will include a fresh issue of shares worth ₹800 crore, while promoters plan to sell shares worth approximately ₹300 crore through the offer for sale component.
The company has stated that proceeds from the fresh issue will be used for multiple purposes, including repayment of existing debt. A portion of the funds will also be allocated for establishing a new manufacturing plant in Solan district in Himachal Pradesh. Additional funds will be used for general corporate purposes.
Milestone Gears is an engineering company that manufactures mechanical components for various industries. Its product portfolio includes bull gears, rear axles, spindles, internal ring gears and bevel gears.
These components are used in equipment such as tractors, construction machinery, electric vehicles, locomotives and windmills.
The company’s client base includes Mahindra & Mahindra, Caterpillar, JCB and John Deere.
IPO Pipeline Continues
Despite recent volatility in equity markets, the pipeline of companies preparing to launch initial public offerings remains active as firms seek to raise capital through public markets.
In evaluating upcoming public offerings, investors typically review factors such as a company’s business model, revenue growth, profit trends, debt levels and expansion plans. Market participants also assess how companies intend to deploy capital raised through IPO proceeds.
