Kanohar Electricals and Torrent Gas Secure SEBI Approval for IPOs
Kanohar Electricals and Torrent Gas have received final SEBI approval for their IPOs, signaling growth in the Indian capital markets. Kanohar's IPO includes a fresh issue and an offer-for-sale, while Torrent Gas has opted for a confidential filing route.
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Kanohar Electricals has been granted final approval by SEBI for its IPO, which includes a fresh share issue worth up to ₹300 crore and an offer-for-sale of 14,590,000 shares by the K Sons Family Trust. The funds will be allocated for working capital, capital expenditure for machinery, automation, solar plant installations, and electric vehicle procurement.
Additionally, Kanohar is recognized as one of five Indian firms with certification to test 500 MVA 400 kV transformers and one of two capable of manufacturing 100 MVA 220 kV Scott transformers. Torrent Gas has filed its Draft Red Herring Prospectus confidentially to raise funds via an IPO, becoming the third listed entity from the Torrent Group. The approval of these IPOs indicates a robust primary market in India, reflecting investor confidence in infrastructure and energy sectors.
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