Urban Company, Boat’s parent among 13 firms approved by SEBI to launch IPOs

New Delhi: Thirteen companies, including Urban Company, which provides app-based beauty and home services, and Imagine Marketing, the parent company of wearables brand Boat, have received approval from the Securities and Exchange Board of India (SEBI) to launch initial public offerings (IPOs), according to the regulator’s update on Tuesday.

The other firms granted approval 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.

These companies had submitted their preliminary IPO papers between March and June and obtained SEBI’s observations during August 1-29. In regulatory terms, these observations are equivalent to clearance to proceed with a public issue, allowing the firms to file their final prospectus at later stages.

Together, the 13 firms are expected to raise more than Rs 15,000 crore through their public offerings. Renewable energy producer Juniper Green Energy is targeting Rs 3,000 crore through a fresh issue, while Jain Resource Recycling plans to raise Rs 2,000 crore via a combination of Rs 500 crore fresh issuance and Rs 1,500 crore through an offer-for-sale (OFS).

Mouri Tech has proposed an IPO worth Rs 1,500 crore, including a fresh issue of Rs 250 crore and Rs 1,250 crore OFS by promoters and a selling shareholder. Construction company Ravi Infrabuild Projects plans an entirely fresh issue of Rs 1,100 crore, and Pace Digitek is seeking Rs 900 crore through a fresh issuance of shares.

Omnitech Engineering, a maker of precision-engineered components, has filed for an Rs 850 crore IPO, comprising Rs 520 crore fresh issuance and Rs 330 crore OFS. Pharmaceutical firm Corona Remedies will float an Rs 800 crore IPO entirely via OFS.

Wire manufacturer KSH International has proposed an IPO of Rs 745 crore, consisting of Rs 420 crore fresh issue and Rs 325 crore OFS by promoters. Allchem Lifescience, which produces API intermediates and speciality chemicals, plans a fresh issue of Rs 190 crore and an OFS of 71.55 lakh shares. Priority Jewels will raise funds through 54 lakh fresh shares without any OFS, and logistics provider Om Freight Forwarders intends to raise Rs 25 crore via a fresh issue and up to 72.5 lakh shares OFS by promoters.

All the companies are expected to list their shares on both the BSE and NSE, expanding the range of sectors participating in India’s public markets.