SEBI's list of draft offer documents shows 14 entries dated October 5 and one dated October 6. Besides Inox Air Products and Anarock Property Consultants, the names are Electromech Infraprojects, Baanganga Gold & Diamond (I), B S Sponge, Everbrands India, PES Installations, Sanghvi Housing and Infrastructure, Tenty, Tanvi Exports India, NNT Developers, Kataline, Shreejikrupa Project, PCI Infraprojects and, on October 6, Pentacle Consultants (I). Reported sizes include Rs 1,000 crore for B S Sponge, Rs 720 crore for Baanganga, Rs 600 crore for Everbrands and Rs 500 crore for Shreejikrupa.
Why it matters for listed companies
These are the drafts companies lodged in the last days of September and the first days of October, now public for comment. A draft is not an IPO: SEBI's observations usually take months and several filings never reach the market. For listed companies the direct effect is small; the list shows where fresh supply of shares is coming from — steel, jewellery manufacturing, restaurants (the Subway India operator), construction and power EPC — and that the mid-size pipeline of Rs 300-1,000 crore issues keeps filling behind Jio Platforms.
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