The Securities and Exchange Board of India (Sebi) has given approval to 13 companies, including Urban Company and consumer devices brand boAt, to proceed with their Initial Public Offerings (IPOs) this week, marking one of the highest weekly approval counts in recent years. The regulator has issued ‘observations’ to these companies, which serve as a go-ahead signal for the IPO process.
As per media reports, Imagine Marketing, the parent company of boAt, has received Sebi’s clearance for its IPO following a confidential filing made in April this year. The company had earlier filed for a Rs 2,000 crore issue in 2022, which was later put on hold. Urban Company has also received a nod for its Rs 1,900 crore issue, consisting of a fresh issue worth Rs 429 crore and an offer-for-sale (OFS) of Rs 1,471 crore.
Other companies that have secured approvals include 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.
