Carlsberg India unit, 3 other firms get Sebi nod to proceed with IPO plans

Carlsberg India, Matangi Rubber, Ujin Pharma and TMC Transformer have received the Securities and Exchange Board of India’s (Sebi) observations, allowing them to proceed with their initial public offering (IPO) plans, according to the updated on the regulator’s website. The Indian arm of Danish brewer Carlsberg filed its IPO papers through confidential route so details of the IPO are not yet disclosed. Matangi Rubber’s proposed IPO comprises a fresh issue of 57.61 lakh shares and an offer for sale of 15.15 lakh shares by existing shareholders. The Delhi-based company manufactures tyres, tyre flaps, tubes and other rubber products. The IPO of Mumbai-based Ujin Pharma supplies chemical products include a fresh issue of 1.18 crore shares and an offer for sale of 72.82 lakh shares. TMC Transformer proposes to launch 550 crore IPO, which will be entirely a fresh issue of shares.