Sebi IPO approval: 13 companies receive Sebi nod for IPOs including Urban Company, Boat – News Air Insight

MUMBAI: Urban Company and makers of consumer devices brand Boat were among the 13 companies that received the Securities and Exchange Board of India’s approval to proceed with their Initial Public Offerings (IPOs) this week — among one of the highest weekly approval counts in recent years.

The regulator said it has issued ‘observations’ to 13 companies for the public issue. When a company receives a final observation from Sebi, it’s a signal from the regulator to go ahead with the IPO process.

Allchem Lifescience, Pace Digitek, Jain Resource Recycling, Om Freight Forwarders, Corona Remedies, Priority Jewels, Mouri Tech, Ravi Infrabuild Projects, KSH International, Omnitech Engineering and Juniper Green Energy were among the other who received the regulator’s go-ahead this week.

Imagine Marketing, the parent of consumer devices maker Boat, has also received an approval for its IPO, for which it had made a confidential filing in April this year.

Earlier in 2022, the company had filed for a Rs 2,000 crore issue which was put on hold then. Urban Company’s Rs 1,900 crore issue consists of a fresh issue of Rs 429 crore and an OFS of Rs 1,471 crore.

Delhi-based Juniper Green Energy will raise capital from a fresh issue of Rs 3,000 crore. The IPO of Jain Resource Recycling will be a fresh issue of Rs 500 crore and an offer for sale(OFS) of Rs 1,500 crore.