Sebi approval opens door for 13 IPOs across diverse sectors

Mumbai: Thirteen companies received approval from Sebi on Friday to proceed with their IPOs. Jay Jagdamba, Transline Technologies, UKB Electronics, CMR Green Technologies, Medicap Healthcare, Purple Style Labs, Oswal Cables, BVG India, Pride Hotels, Sai Parenterals, Commtel Networks, Hella Infra Market and Sify Infinit Spaces are the firms that secured Sebi's clearance.

The regulator said it has issued 'observations' to all thirteen companies. A final observation from Sebi effectively serves as the go-ahead for a company to launch its IPO. Sify Infinit Spaces plans to raise capital through a fresh issue of ₹2,500 crore and an offer for sale (OFS) of ₹1,200 crore. Commtel Networks' IPO will comprise a fresh issue of ₹150 crore and an OFS of ₹750 crore.