Securities and Exchange Board of India (SEBI), the country's regulatory body for securities and capital markets, has approved the Initial Public Offering
(IPO) plans of 12 companies, according to a regulatory update released on Friday. The list includes Hella Infra Market, the parent company of construction-tech Infra.Market, Purple Style Labs, Jay Jagdamba Ltd, UKB Electronics, CMR Green Technologies, Transline Technologies, Medicap Healthcare, Oswal Cables, BVG India, Sai Parenteral’s, Commtel Networks and Sify Infinit Spaces. All 12 companies had submitted their draft IPO papers to SEBI between June and October. SEBI issued its observations between January 19 and January 23, which, in regulatory terms, amounts to approval to proceed with a public issue. Hella Infra Market, backed by Tiger Global, had proposed an IPO in the range of Rs 4,500 crore to 5,500 crore and filed its papers through SEBI’s confidential pre-filing route in October last year, market sources told PTI. Sify Infinit Spaces Ltd, a subsidiary of Sify Technologies, has planned a public issue comprising a fresh issue of equity shares worth Rs 2,500 crore, with an offer for sale of Rs 1,200 crore. Purple Style Labs, which operates luxury fashion platform Pernia’s Pop-Up Shop, aims to raise Rs. 660 crore through an IPO, which will consist entirely of a fresh equity issue. Transline Technologies, provider of video surveillance and biometric solutions, has proposed a public issue structured solely as an offer for sale of 1.62 crore equity shares by promoters and a shareholder. UKB Electronics, the Noida-based company, has planned an IPO comprising a fresh issue of shares of upto Rs. 400 crore, along with an offer for sale of shares worth another Rs. 400 crore. Oswal Cables has proposed to raise Rs. 300 crore through a fresh issue of equity shares, alongside an offer for sale of up to 2.22 crore equity shares. BVG India has lined up an IPO comprising a fresh issue of Rs 300 crore and an offer for sale of up to 2.85 crore equity shares by existing shareholders. Commtel Networks has planned a Rs 900 crore public issue, which includes a fresh issue of Rs 150 crore and an offer for sale of Rs 750 crore. CMR Green Technologies Ltd has proposed its IPO as a complete offer for sale of 4.28 crore equity shares, as stated in its draft red herring prospectus. Also Read: Amazon To Go For Another Round of Layoffs Next Week, Over 14,000 Jobs At Risk
