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GreenSignal Bio Pharma IPO Gets SEBI Approval

GreenSignal Bio Pharma IPO Gets SEBI Approval:

As told investors GreenSignal Bio Pharma (GSBPL) can launch its IPO in October. But Still this IPO was pending to be approved from market regulator SEBI.

Now finally GreenSignal Bio Pharma (GSBPL) has received a go ahead from SEBI. As per latest update SEBI has approved its proposed IPO on September 9, 2016

The offering comprises 1,45,79,560 equity shares of GSBPL, representing 38 per cent of its equity share capital for cash through an offer for sale by the selling share-holders through the book building process.

GreenSignal Bio Pharma has filed its paper with market regulator SEBI in July. The equity shares will be offered by the company’s promoters P Sundaraparipooranan and P Murali along with other shareholders including Avon Cycles Ltd, R Srinivasan and and Mallika Murali. The company expects to raise between Rs 86 crore and Rs 120 crore through the issue.

GreenSignal Bio Pharma currently has two products — the BCG vaccine for preventing tuberculosis and the BCG-ONCO for immunotherapy. The latter is used in the treatment of urinary bladder cancer. The BCG vaccine contributed around 82.73 per cent of its revenues for the 12-month period ended March 31, 2016.

The objects of the GreenSignal Bio Pharma IPO are to achieve the benefits of listing the Equity Shares on the BSE and the NSE and to carry out the sale of up to 14,579,560 equity shares by the selling shareholders. Apart from enhancing the company’s visibility and brand image and providing liquidity to the existing shareholders, the listing of the equity shares will also provide a public market for the equity shares in India, said the company.

Company will not receive any proceeds of the Offer and all the proceeds will go to the selling shareholders.

Market Update:

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L&T Technology IPO bidding has close on September 15, 2016 successfully. Now L&T Technology IPO Allotment and Listing will be in process.

GNA Axles Ltd IPO bidding also going to start from September 14, 2016 – September 16, 2016.

After that ICICI Prudential Life Insurance IPO will open on September 19,2016 and will close on September 21, 2016.

One more main stream IPO, HPL Electric & Power Ltd IPO will open September 22,2016 and will close on September 26, 2016.

2 NSE SME IPO that is Crown Lifters Ltd IPO (CLL IPO) and Husys Consulting Ltd IPO (Husys Consulting IPO) bidding will start from September 9 – September 19.

1 BSE SME IPO, Radhika Jeweltech Ltd IPO (RJL IPO) is going to open from September 12, 2016 – September 20, 2016.

1 more NSE SME IPOAVSL Industries Ltd is going to launch from September 15, 2016 – September 28, 2016.

Keep watching this blog to keep yourself updated with all the news.

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Latest Grey Market Premium (GMP) of L&T Technology IPO (LTT IPO) is between Rs 18 – Rs 22 per equity share. While Current  Grey Market Premium (GMP) of ICICI Prudential Life Insurance IPO (ICICI Pru Life IPO) is between Rs 18 – Rs 22 per equity share.

GNA Axles Ltd IPO (GNA Axles IPO) Grey Market Premium (GMP) between Rs 14 – Rs 17 per equity share.

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