BIBA, keystone, Plaza Cables & Hemani got Sebi yes for IPO

October 18, 2022

requests controller Sebi has given its nod for the proposed original public immolations of four companies– BIBA Fashions Ltd, keystone Realtors Ltd, Plaza Cables Ltd and Hemani Industries Ltd. These companies have entered their separate observation letters from Sebi, according to an update on the controller’s website as on October 14.

In Sebi’s parlance, allocation of the observation letter implies the go- ahead from the controller for the proposed IPO. Ethnical wear and tear fashion marker Biba Fashion, which is backed by Warburg Pincus and Fearing Capital, had filed the Draft Red Herring Prospectus (DRHP) for an IPO in April. The proposed IPO comprises fresh allocation of equity shares worth Rs 90 crore and an Offer For trade (OFS) of 2.77 crore equity shares by the protagonist and being investors, as per the draft papers.

In June, Rustomjee group company Keystone Realtors has filed the primary papers to raise Rs 850 crore through an IPO. It consists of fresh issue of equity shares adding up to Rs 700 crore and an OFS worth Rs 150 crore by promoters, according to the DRHP.

Agrochemical manufacturer Hemani diligence Ltd filed the DRHP to raise Rs2,000 crore through an original share trade in March. The IPO comprises fresh issue of equity shares adding up to Rs 500 crore and an OFS of equity shares worth up to Rs1,500 crore by its promoters. In May, Plaza Cables filed the DRHP for the share trade involving a fresh issue of 1,64,52,000 equity shares. The Delhi- grounded company is into the business of manufacturing, marketing and selling of cables, aluminum lines and gormandize moving electrical goods.

About BIBA Fashions Ltd, keystone Realtors Ltd, Plaza Cables Ltd and Hemani Industries Ltd

BIBA, a synonym for pretty women in Punjabi, is a home-grown fashion brand, started by Mrs. Meena Bindra in 1988. Since then, it has become synonymous with ethnic wear in India. BIBA’s journey so far has been nothing but momentous and incredible, and the story behind the brand is as awe-inspiring as the woman who created it.

At Rustomjee, we believe ideas form the cornerstones of buildings. Bricks and mortar are merely the blocks that help in realizing them. Ideas transform houses into homes and offices into innovation centers, but what’s an idea without planning and foresight? These are thoughts that animate Rustomjee’s design principles. The same principles that inspire the company to invent, discover and deliver newer lifestyle solutions. Since its inception in 1996, Rustomjee has heralded the rise of insightful design and eco-friendly construction technologies. Through its diverse projects, it has lived up to global benchmarks and set a few of its own. Today, this commitment to excellence is converting millions of square feet of Mumbai into gated communities, premium townships, standalone landmarks and commercial spaces.

Quality is the hallmark of Plaza Cables. Starting from fledging organization 35 years ago, R K Cable, now known as PLAZA CABLES has come a long way in establishing itself as a major player in the cable & wires industry. Since inception, Plaza has been setting standards in quality & safety with all its products. Plaza Cables is equipped with the most sophisticated manufacturing and testing equipment’s.


Power Cables being exponentially related to power generation; it offered natural growth option and thus the company has a complete and comprehensive range of cable products for meeting various needs of power generation. These includes LT Power and Control Cable with PVC insulation, XLPE Insulated Power Cables, Railway Signaling Cables, Mining Cables, Aerial Bunched Cables and Medium Voltage XLPE Insulated Cables, Now, Plaza cables have entered into the field of solar lighting systems, solar water heating systems which has been approved by MNRE/SEC. Plaza is also manufacturing CFLEB (Self Ballasted Lamps for General Lighting Services) which is an energy saving bulb and conforms to IS:15111 Part I and Part II up to amendment nos. 6 with ISI mark.

Hemani Industries Limited established in the year 1992, built by a very dynamic and a strong visionary Mr. Mohan Dama in a 2000 square meter of land in Ankleshwar, Gujarat, India. Today, Hemani Industries Limited is spread across 250000 square meters at three facilities in Gujarat. Hemani Industries Limited, Dahej was started in 2010 with the capacity of 260MT per month exclusively for the manufacturing of Pyrethroids which now includes 15 active ingredients with the total capacity of 1200MT per month.

This increase in the number of active ingredients produced in the company has been achieved due to the state-of-the-art R&D center and excellent team of professionals working every day. The founders of the company firmly believe in self-sufficiency which is exemplified in the backward integration that the company has achieved for almost all of its products. Hemani Industries Limited also has global tie ups with multinational companies to achieve benefits in synergy. Hemani Industries is one of the fastest growing agrochemical companies in India with a broad portfolio of Insecticides, Herbicides, Fungicides, it’s formulations and Intermediates.