ET NEWS

Reliance Industries Ltd. has set investment banking advisory fees for the planned initial public offering of its telecom unit at about 0.65% of the issue size, according to people familiar with the matter, largely in line with those to be paid by National Stock Exchange of India Ltd.Based on a potential offering size of up to $4 billion for Jio Platforms Ltd., the total fee pool may be as high as $26 million, with the bulk likely to be shared among lead banks such as Kotak Mahindra Capital Co. and Morgan Stanley, the people said, asking not to be identified because the information is private.The fee distribution may ultimately depend on the client coverage from the banks and the company’s own discretion, two of the people said.A representative for Reliance didn’t immediately respond to requests for comment.Jio’s IPO could be India’s largest-ever listing and the first by a major unit of billionaire Mukesh Ambani’s flagship company, Reliance, in almost two decades.Jio’s banking fees are poised to be broadly in line with those set by NSE, which is considering an IPO that may raise about $2.5 billion, people familiar with the matter have said.The proposed fee structure by both Jio and NSE is notably lower than broader market averages. Indian companies paid investment banks an average of about 1.86% across 417 IPOs last year and 1.67% across 350 issuances in 2024, according to data compiled by LSEG.Reliance is aiming to file draft paperwork for Jio as early as the end of this month, people familiar with the matter have said. Other banks selected for advisory roles on the listing include HSBC Holdings Plc, JPMorgan Chase & Co., Goldman Sachs Group Inc., JM Financial Ltd., Axis Bank Ltd. and SBI Capital Markets Ltd.

Market regulator Securities and Exchange Board of India (Sebi) has approved the initial public offering (IPO) of six companies. The regulator issued observations on three public issues on Friday while according its consent to three others on Wednesday.Those that received Sebi's permission today include Vishvaraj Environment, Shah Investor's Home and SAEL Industries. Meanwhile, Prasol Chemicals, NoPaperForms Solutions and Symbiotec Pharmalab received it on Wednesday, March 25.In market parlance, an 'observation' is a formal go-ahead by Sebi with comments on a company’s draft offer document.Jindal Supreme (India) Ltd, which filed its Draft Red Herring Prospectus (DRHP) with Sebi, has withdrawn the offer document, according to a Sebi document.Vishvaraj Environment IPOVishvaraj Environment IPO plans to raise Rs 2,250 crore from the domestic primary markets. The issue is a combination of a fresh equity issuance and an offer for sale (OFS). It is a leading developer of water utility and wastewater management projects, focusing on recycling treated sewage water for industries.The IPO comprises a fresh issue of up to Rs 1,250 crore and an OFS aggregating up to Rs 1,000 crore from the promoter selling shareholder, Premier Financial Services Limited.Last week, Sebi cleared the decks for its IPO after the company came under regulatory crosshairs.JM Financial, Axis Capital Limited and DAM Capital Advisors Limited are the Book Running Lead Managers to the issue.Shah Investor's Home IPOShah Investors Home's public issue will entirely be a fresh issue of equity shares. Beeline Capital Advisors Private Limited is the lead manager for the issue.SIHL is a retail broking firm offering a range of services covering equity and derivatives brokerage, with over three decades of experience. These services facilitate the buying and selling of financial products such as equities, IPO investing, mutual funds distribution, and other securities. While the company's core operations include equity and derivatives brokerage, it also focuses on providing secondary market brokering services to retail customers, comprising both resident and non-resident Indians.SAEL Industries IPOThe renewable energy company offers decarbonisation solutions to facilitate India's adoption of clean and affordable energy projects. Its business verticals include solar energy, waste to energy, module manufacturing and solar cell manufacturing.Its Rs 4,575 crore IPO will be a combination of a fresh share issuance and an OFS. The fresh issue is worth Rs 3,750 crore while the OFS is worth Rs 825.The lead manager is ICICI Securities Limited.Prasol Chemicals IPOThe Rs 500 crore IPO will be a mix of fresh equity and OFS. The fresh issue is worth Rs 80 crore while the OFS is Rs 420 crore. The lead manager is DAM Capital Advisors Limited.The company operates in the specialty chemicals industry, manufacturing over 150 specialty chemicals, including acetone-based, phosphorous-based, and other complex chemicals. Its product portfolio includes 21 acetone-based chemicals, 53 phosphorous-based chemicals, and 76 other specialty chemicals (e.g. surfactants, esters, acids).NoPaperForms Solutions IPOThe IPO of NoPaperForms Solutions will be a mix of issuance of fresh equity and an OFS. The book running lead manager (BRLM) is IIFL Capital Services Limited.Founded in 2017, NoPaperForms Solutions offers a unified, vertical SaaS platform for the education sector, with products such as Meritto and Collexo that help institutions manage student acquisition, lifecycle processes, and payments. The company focuses on enhancing revenue and operational efficiency through its technology solutions. Headquartered in Delhi, it has also expanded its presence beyond India.Symbiotec Pharmalab IPOThe Rs 2,180 crore IPO of Symbiotec Pharmalab will be a mix of fresh equity issuance and an OFS. The book running lead manager is JM Financial Limited. The fresh issue size will be Rs 150 crore while the OFS will be Rs 2,030 crore.In the OFS, promoter Satwani Holdings will offload stake along with investor selling shareholder Rosewood Investments and India Business Excellence Fund –III.(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)