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New Delhi: There are a total of 13 companies that have received the SEBI approval for their public listing. Popular names such as Urban Company and Imagine Marketing, which is the parent company of popular audio wearables, Boat are in the list. The intimation was given by the market regulator SEBI on Tuesday, September 2.
The other companies that got the approval of SEBI are Juniper Green Energy, Jain Resource Recycling, Mouri Tech, Ravi Infrabuild Projects, Pace Digitek, Omnitech Engineering, Corona Remedies, KSH International, Allchem Lifescience, Priority Jewels, and Om Freight Forwarders.
The intimation further said that these companies had filed their preliminary IPO papers between March and June. Consequently, the above-mentioned companies obtained Sebi's observations during August 1-29.
In regulatory parlance, getting a regulator approval is equivalent to the launch of a public issue. The approval came amidst the robust market activity, with 50 listings so completed this year and more than a dozen in the month of August.
As man as Rs 15000 crore is expected to be raised by these 13 companies. The fundraisings are aimed at expansion, debt repayment, and providing an exit opportunity to existing shareholders.
Imagine Marketing, the parent company of Boat, filed draft papers with SEBI proposing to raise Rs 2000 crore through its public issue. The company had reportedly filed papers for an IPO through the pre-confidential route in April.
Urban Company is expected to raise Rs 1900 crore via public issue. The IPO will comprise a fresh issue of shares worth Rs 429 crore and OFS (offer-for-sale) worth Rs 1471 crore. The OFS segment includes offloading of shares by the promoters, including Accel India, Elevation Capital, Bessemer India Capital Holdings II Ltd, Internet Fund V Pte Ltd, and VYC11 Ltd, as per the draft papers.
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, gold and crypto assets.)
