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Endurance Technologies, Greensignal Bio get SEBI nod for IPOs

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Endurance Technologies, IPO, stock market

New Delhi: Endurance Technologies and Greensignal Bio Pharma have received approval from markets regulator Sebi to float their initial public offers.

Both the firms had filed IPO papers with Securities and Exchange Board of India (Sebi) in July.

As per the latest update, Sebi on September 9 issued its final 'observations' on the draft offer documents, which is necessary for any company to launch the public offer.
Auto components maker Endurance Technologies' public issue comprises 2.46 crore equity shares including an offer for sale of 1.93 crore shares by private equity firm Actis and 53.17 lakh shares by the promoter.

The issue is being manged by Axis Capital and Citigroup Global Markets India.

GreenSignal Bio Pharma's initial share-sale consists of 1,45,79,560 equity shares of the company representing 38 per cent of its equity share capital for cash through an offer for sale by the selling share-holders.

The firm manufactures BCG vaccine against tuberculosis for newborn children. It is one of the four companies worldwide who have been WHO-prequalified to supply BCG vaccines to UNICEF.

Indian Overseas Bank is the global co-ordinator and book running lead manager to the offer.

The companies are going public public in order to achieve the benefits of listing the equity shares on the stock exchanges and to carry out the offer for sale.

The listing will provide, besides enhancing brand value, liquidity to existing shareholders, the companies said in their respective draft papers.

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