SEBI has approved IPO proposals from Travelstack Tech, Learnfluence Education, and Tea Post, signalling continued momentum in India’s primary market and expanding opportunities for investors. This news arrives as Indian stock markets face pressure due to the ongoing conflict in West Asia.
Three firms named the travel technology company Travelstack Tech, Learnfluence Education, which runs the 'Lakshya' coaching centres, and the tea café chain Tea Post, have been approved by SEBI to gather capital through Initial Public Offerings (IPOs).
Travelstack Tech IPO includes a new issue amounting to Rs. 250 crore and a sale of up to 26,852,969 equity shares by the promoters - Vaibhav Aggarwal and Adarssh Mnpuria.
The investors offloading shares are Anupam Mittal, Accel India IV (Mauritius) Ltd, Global Private Opportunities Partners II LP, Global Private Opportunities Partners II Offshore Holdings LP, Panthera Growth Fund II VCC, PGP India Growth Fund I, Panthera Growth II, XTO10X Mauritius Pte. Ltd, and Qualcomm Asia Pacific Pte. Ltd.
The funds raised from the new issuance, totalling Rs. 135 crore, will be used to partly support the company's working capital needs, allocate Rs. 45 crore for the repayment and/or prepayment, either fully or partially, of certain loans obtained by the company, and for general corporate purposes.
Learnfluence Education IPO includes a new issuance of equity shares, totalling up to Rs. 246 crore, and an offer for sale of up to 40 lakh equity shares. The company intends to use the funds raised for establishing new physical campuses, launching sales and marketing efforts, repaying loans, and making lease payments for previously identified long-term campuses.
The company is the parent company of Lakshya, which operates from 15 campuses in 8 cities, namely, Calicut, Ernakulam, Kannur, Trivandrum, Kottayam, Thrissur, Coimbatore and Bengaluru.
Tea Post's initial public offering includes a new issuance of Rs. 1.43 crore equity shares. The funds raised from this offering will mainly be utilized to establish and launch new tea cafes operated by the company. The total issue size is of 2.85 crore equity shares.
Rays Power Infra, Madhur Iron & Steel, and Arjun Jewellers had their documents "withdrawn or returned" during the period from March 9 to 13, according to the update.