Commtel, Premier Industrial, Shankesh Jewellers file for IPOs
Commtel Networks, Premier Industrial Corporation, and Shankesh Jewelers have filed to go public, aiming to raise fresh funds and let some current investors cash out.
Their draft papers were submitted to SEBI on Tuesday, aligning with the latest developments in the IPO market.
Commtel Networks to raise ₹900 crore
Commtel Networks wants to raise ₹900 crore—₹150 crore as new shares and the rest through existing shareholders selling their stake—with the fresh issue proceeds primarily going toward paying off debt.
Premier Industrial is offering up to 2.25 crore new shares (plus 54 lakh OFS shares) mainly to boost its Maharashtra manufacturing facilities.
Shankesh Jewellers plans a mix of 3 crore fresh shares and 1 crore OFS shares, using proceeds for debt repayment, working capital, and general business needs.