Urban Company, boAt's Parent Among 13 Firms Securing SEBI Approval For IPOs In A Single Week

The Securities and Exchange Board of India (SEBI) has cleared initial public offerings (IPOs) of 13 companies within a single week. The list features some high-profile names, with Urban Company standing out among them, according to an Economic Times report.

Urban Company, which had filed draft papers earlier this year, has received approval for a Rs 1,900 crore IPO, pared down from its earlier plan of Rs 3,000 crore.

The offer will consist of a fresh issue of Rs 429 crore alongside an offer for sale (OFS) worth Rs 1,471 crore, where investors such as Accel, Elevation Capital, Tiger Global and Vy Capital will trim their holdings.

Another closely watched listing is Imagine Marketing, the parent of consumer electronics brand boAt. Its IPO will include a Rs 900 crore fresh issue and an OFS of Rs 1,100 crore. The company had first approached the market regulator in early 2022.

The approvals also include Juniper Green Energy, which is targeting a Rs 3,000 crore fresh issue, and EPC major Ravi Infrabuild Projects, set to raise up to Rs 1,100 crore to repay debt and finance equipment purchases.

Other green lights from SEBI include KSH International (Rs 745 crore), Omnitech Engineering (Rs 850 crore), and Jain Resource Recycling, which is aiming for as much as Rs 2,000 crore.

In logistics, Om Freight Forwarders has lined up a fresh issue of Rs 25 crore plus an OFS of 72.5 lakh shares.

In pharmaceuticals, Allchem Lifesciences and Corona Remedies have secured approval, while IT firm Mouri Tech is eyeing Rs 1,500 crore and Pace Digitek about Rs 900 crore. Priority Jewels also features in the list.

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