Four companies, including Premier Energies Ltd and PN Gadgil Jewellers Ltd, have received SEBI's approval to raise funds through IPOs, the market regulator announced on Tuesday. Other companies that have received IPO approval include Ecos India Mobility and Hospitality Ltd and KRN Heat Exchanger Ltd.

When did the process start? 

All four companies had filed their initial IPO papers between March and April. They received SEBI's observation letters during July 22-26. In SEBI language, receiving an observation letter means that it is going ahead with the public issue. According to the draft red herring prospectus (DRHP), the proposed IPO of solar cell company Premier Energies is a combination of a fresh issue of equity shares worth Rs 1,500 crore and an offer for sale (OFS) of 2.82 crore shares by the promoter and investors.

When did the process start? 

All four companies had filed their initial IPO papers between March and April. They received SEBI's observation letters during July 22-26. In SEBI language, receiving an observation letter means that it is going ahead with the public issue. According to the draft red herring prospectus (DRHP), the proposed IPO of solar cell company Premier Energies is a combination of a fresh issue of equity shares worth Rs 1,500 crore and an offer for sale (OFS) of 2.82 crore shares by the promoter and investors.

When did the process start? 

All four companies had filed their initial IPO papers between March and April. They received SEBI's observation letters during July 22-26. In SEBI language, receiving an observation letter means that it is going ahead with the public issue. According to the draft red herring prospectus (DRHP), the proposed IPO of solar cell company Premier Energies is a combination of a fresh issue of equity shares worth Rs 1,500 crore and an offer for sale (OFS) of 2.82 crore shares by the promoter and investors.

According to the draft prospectus, the Rs 1,100 crore IPO of P N Gadgil Jewellers Ltd is a combination of a fresh issue of equity shares up to Rs 850 crore and an OFS of equity shares up to Rs 250 crore by promoter SVG Business Trust. Out of the Rs 850 crore raised through the IPO, Rs 387 crore will be used to finance expenses for opening 12 new stores in Maharashtra, Rs 300 crore for repayment of debt, besides a portion for general corporate purposes.