Five companies secure SEBI approval for IPOs

MUMBAI: Laxmi India Finance, Jajoo Rashmi Refractories, Ajay Poly, Regal Resources and Veritas Finance — have received the Securities and Exchange Board of India’s approval to proceed with their initial public offerings (IPOs).

The regulator said it has issued ‘observations’ to five companies for the public issue. When a company receives a final observation from Sebi, it’s a signal from the regulator to go ahead with the IPO process. Earthood Services withdrew its offer document on April 28.

The IPO of Laxmi India Finance will be a combination of fresh issue of 1.04 crore shares and an offer for sale of 56 lakh shares. Jajoo Rashmi Refractories’ issue will raise Rs 150 crore from a fresh issue of shares.


Ajay Poly’s offer consists of a fresh issue of Rs 238 crore, and an offer for sale of 93 lakh shares. Regal Resources will raise Rs 190 crore from a fresh issue and rest from an OFS of 90 lakh shares