Thirteen companies, including Urban Company and boAt, have received approval of India's market regulator to launch their IPOs.
Therse companies—including Juniper Green Energy, Jain Resource Recycling, Mouri Tech, Pace Digitek and Priority Jewels—had filed their preliminary IPO papers between March and June and obtained observations during August.
In all, these 13 companies are expected to raise more than ₹15,000 crore, according to merchant bankers. The fundraisings are aimed at expansion, debt repayment and providing an exit opportunity to existing shareholders.
Fifty IPOs have been launched in India so far this year, with more than a dozen in August alone, according to data with the Securities and Exchange Board of India.
Urban Company IPO
The Urban Company IPO includes a fresh issue of shares worth ₹429 crore and an offer for sale of shares worth 1,471 crore by investors including Accel India, Elevation Capital, Bessemer India Capital Holdings II Ltd., Internet Fund V Pte Ltd. and VYC11 Ltd., according to the draft papers.
boAT IPO
boAT parent Imagine Marketing filed its IPO draft papers to raise ₹2,000 crore. The company filed the draft papers through a confidential pre-filing route, which allows the company to withhold public disclosure of details under the draft red herring prospectus until later stages.