Manjushree Technopack, Inventurus Knowledge Solutions get Sebi go ahead to float IPOs

Advent International-backed Manjushree Technopack and Inventurus Knowledge Solutions Ltd, which provides healthcare support services, have received go ahead from market regulator Sebi to float initial public offerings.

Manjushree Technopack is looking to mobilise Rs 3,000-crore through the initial share-sale, while the initial public offering (IPO) of Inventurus Knowledge Solutions, which is backed by Rekha Jhunjhunwala and RARE Enterprises, is entirely an Offer-For-Sale (OFS), an update with Sebi showed on Tuesday.

The two firms had filed their respective preliminary IPO papers in August and obtained the regulator's observations during November 4 to 8.

In Sebi's parlance, obtaining a regulator's observations means its go ahead to float the public issues.

Manjushree Technopack's initial share-sale is a combination of a fresh issue of equity shares worth Rs 750 crore and an OFS of equity shares valued Rs 2,250 crore by AI Lenarco Midco Ltd, according to the draft red herring prospectus (DRHP).

The offer also includes a reservation for a subscription by eligible employees.

Proceeds from the fresh issue to the tune of Rs 500 crore will be used for payment of debt; funding inorganic growth through acquisitions and other strategic initiatives and general corporate purposes.

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