• Source:JND
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Upcoming IPOs: Solar module manufacturer Cosmic PV Power Ltd has filed draft papers with Security and Exchange Board of India (Sebi), aiming to raise Rs 640 crore through an Initial Public Offering (IPO). According to the Draft Red Herring Prospectus (DRHP), the proposed initial share sale comprises fresh shares and offer for sale from exiting investors.

The company said that fresh part consists of equity shares worth Rs 540 crore and an Offer For Sale (OFS) of shares worth up to Rs 100 crore.

The company proposes to utilise the proceeds from the fresh issue towards setting up a greenfield manufacturing facility in Narmadapuram, Madhya Pradesh, and for general corporate purposes.

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Cosmic PV Power is engaged in the manufacturing of solar photovoltaic (PV) modules and is among the fastest-growing players in the segment, recording a compound annual growth rate (CAGR) of 125.8 per cent in revenue from operations during FY23-FY25, according to a Care report.

The company operates across three verticals -- manufacturing of solar PV modules, EPC services, and manufacturing of aluminium frames.

Gujrat Victory Forgings, Zetwerk Manufacturing Files IPO Papers

Gujarat Victory Forgings Limited has filed draft documents with the capital markets regulator Sebi to raise funds through an initial public offering (IPO).

According to the draft red herring prospectus (DRHP) filed on Monday, the proposed IPO involves the issue of up to 6.5 million fresh equity shares and the sale of up to 13.2 million equity shares by a promoter.

Under the OFS, promoter Vijendrakumar Vishambar Gupta will sell the shares.

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Meanwhile, Zetwork Manufacturing Businesses has also filed preliminary documents with the Markets Regulatory Authority (MRAA) through a confidential mechanism for an initial public offering (IPO) to raise funds of Rs 4,000 crore to Rs 5,000 crore.

With Inputs From PTI


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