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News Topical, Digital Desk : Infra.Market, Purple Style Labs, and 10 other companies have received approval to enter the stock market (Share Market News). Market regulator SEBI has approved the IPOs of these 12 companies. According to an update on SEBI's website, these companies have received SEBI's observation. In regulatory parlance, an observation means that the company can now launch its public issue.
The companies approved for IPOs
include Hella Infra Market, the parent company of construction tech platform Infra.Market, Purple Style Labs, Jay Jagdamba Ltd, UKB Electronics, CMR Green Technologies, Transline Technologies, Medicap Healthcare, Oswal Cables, BVG India, Sai Parenterals, Commtel Networks, and Sify Infinit Spaces.
According to SEBI, all these companies had filed their draft IPO papers between June and October. SEBI has issued observations to all of them between January 19 and 23. This means that now these companies can proceed to the next stage of their IPO.
Infra.Market IPO: IPO could be worth up to Rs 5,500 crore Tiger Global-backed Infra.Market had applied for IPO with SEBI in October through confidential pre-filing route. According to market sources, the company's IPO could be worth between Rs 4,500 crore and Rs 5,500 crore. This IPO will be a mix of both fresh issue and offer for sale.
Sify Technologies IPO Sify Infinit Spaces, a subsidiary of Sify Technologies, has proposed an IPO with a fresh issue of Rs 2,500 crore and an OFS of Rs 1,200 crore. Purple Style Labs, the parent company of Pernia's Pop-Up Shop, will raise ₹660 crore (approximately $1.6 billion) in a fresh issue.
Transline Technologies ' IPO will be entirely an OFS (offer offering) with promoters and a shareholder selling 16.2 million equity shares. Noida-based UKB Electronics has proposed an IPO with a fresh issue of ₹400 crore (approximately $1.4 billion) and an OFS of ₹400 crore (approximately $1.4 billion). CMR Green Technologies' IPO will also be entirely an OFS (offer offering) with 42.8 million equity shares sold. Oswal Cables has planned a fresh issue of ₹300 crore (approximately $1.0 billion) and an OFS of 22.2 million shares. BVG India has proposed a fresh issue of ₹300 crore (approximately $1.5 billion) and an OFS of 28.5 million shares. Commtel Networks' IPO will be worth ₹900 crore (approximately $1.5 billion) consisting of a fresh issue of ₹150 crore (approximately $1.7 billion) and an OFS of ₹750 crore (approximately $1.7 billion). Its shares will be listed on the BSE and NSE.
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