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News Topical, Digital Desk : The Securities and Exchange Board of India (SEBI) has simultaneously approved the IPO of five companies - Veeda Clinical Research, Shringar House of Mangalsutra, Rite Water Solutions India, Seedworks International and LCC Projects. These companies will now be allowed to bring their IPOs within the next one year. SEBI issued an observation letter on the draft papers of Veeda Clinical Research and LCC Projects on July 3.
At the same time, Shringar House of Mangalsutra, Rite Water Solutions India and Seedworks International were approved on 4 July. According to SEBI rules, getting an observation letter means that these companies can go ahead with their IPO plans.
Veeda Clinical Research: Will raise Rs 185 crore
Ahmedabad-based Veeda Clinical Research had re-filed draft papers in January 2025. The IPO of this company will be made from new shares of Rs 185 crore and an offer-for-sale (OFS) of 1.3 crore shares. Shareholders like promoter Basil, CX Alternative Investment Fund and Sabre Partners AIF Trust will sell their shares in the OFS.
Rite Water Solutions India: Rs 745 crore IPO
Water Access Acceleration Fund-backed Rite Water Solutions India had filed draft papers in February 2025. This company will raise Rs 745 crore, which will include new shares of Rs 300 crore and OFS of Rs 445 crore. Promoters Vinayak S Gan, Abhijeet V Gan and Water Access Acceleration Fund will sell shares in OFS.
Seedworks International: The IPO of Telangana seed company Seedworks International will be entirely an OFS of 5.2 crore shares. True North Fund, South Asia Growth Fund, Balaji Manmohan Nukal and South Asia EBT Trust will sell shares in this OFS. The company had filed draft papers in February 2025.
LCC Projects: Gujarat-based EPC company LCC Projects will raise capital through new shares of Rs 320 crore and OFS of 2.29 crore shares to purchase equipment and reduce debt . According to the draft papers filed in February 2025, the funds will be used to purchase equipment and reduce debt.
Shringar House of Mangalsutra Mumbai-based jewellery company Shringar House of Mangalsutra will raise funds through 2.43 crore new shares. According to the draft papers filed in February, this money will be used mainly for working capital needs.
WeWork India IPO Status SEBI has removed WeWork India's IPO papers from pending status. The Embassy Group-backed company had filed draft papers in February 2025. Its IPO will be an OFS of 4.37 crore shares in which shareholders like Embassy Buildcon LLP and 1 Aerial Way Tenant will sell their shares.
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