IPO Surge: Seven Emerging Firms Secure SEBI's Nod
Seven companies, including Meesho and Shiprocket, have gained SEBI's approval to launch IPOs. This recognition is timely with a primary market upswing. Meesho plans a significant Rs 4,250 crore issuance, while Shiprocket aims to gather Rs 2,000-2,500 crore. These ventures leverage the confidential pre-filing route for privacy.
- Country:
- India
Seven companies, such as e-commerce powerhouses Meesho and Shiprocket, have received the green light from SEBI to proceed with initial public offerings (IPOs), as reported by the market watchdog on Monday.
Among the approved companies are Rajputana Stainless, Skyways Air Services, German Green Steel and Power, Allied Engineering Works, and Manika Plastech, all of whom navigating through rigorous regulatory requirements since May.
The approvals coincide with a burgeoning phase in India's primary markets. Notably, Meesho aims to generate Rs 4,250 crore, with plans for strategic investments, while Shiprocket is reported to seek Rs 2,000-2,500 crore. Their approach via confidential pre-filing underscores a strategic move to maintain confidentiality during initial stages.
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