As many as 13 companies, including Urban Company, which provides app-based beauty and home services, and Imagine Marketing, the parent of wearables brand boAt, have received Sebi approval to launch initial public offerings (IPOs), the regulator’s update on Tuesday showed.Other firms that obtained the clearance include Juniper Green Energy, Jain Resource Recycling, Mouri Tech, Ravi Infrabuild Projects, Pace Digitek, Omnitech Engineering, Corona Remedies, KSH International, Allchem Lifescience, Priority Jewels and Om Freight Forwarders, PTI reported.These companies had filed preliminary IPO papers between March and June and secured Sebi’s observations during August 1-29. In regulatory terms, Sebi’s observations are equivalent to a clearance for launching a public issue. Merchant bankers estimate that together, these 13 firms could raise over Rs 15,000 crore, with funds earmarked for expansion, debt repayment, and providing exit opportunities to existing shareholders.Urban Company plans to raise Rs 1,900 crore through its IPO, comprising a fresh issue of Rs 429 crore and an Offer For Sale (OFS) of Rs 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 draft papers.Imagine Marketing filed draft papers with Sebi in April through the confidential pre-filing route, reportedly targeting Rs 2,000 crore via its maiden public issue, which allows details to remain undisclosed until later stages.Renewable energy producer Juniper Green Energy aims to raise Rs 3,000 crore via a pure fresh issue, while Jain Resource Recycling targets Rs 2,000 crore through a mix of Rs 500 crore fresh issuance and Rs 1,500 crore OFS. Mouri Tech plans an IPO worth Rs 1,500 crore, with a Rs 250 crore fresh issue and Rs 1,250 crore OFS by promoters and a selling shareholder.Construction firm Ravi Infrabuild Projects is seeking Rs 1,100 crore through a fresh issue, while Pace Digitek is coming out with a Rs 900 crore IPO entirely via fresh shares. Omnitech Engineering’s Rs 850 crore IPO includes a Rs 520 crore fresh issue and Rs 330 crore OFS by promoters. Pharmaceutical company Corona Remedies will float an Rs 800 crore IPO entirely via OFS.Wire manufacturer KSH International plans a Rs 745 crore IPO, comprising Rs 420 crore fresh issue and Rs 325 crore OFS. Allchem Lifescience will raise funds via Rs 190 crore fresh issue and an OFS of 71.55 lakh shares, while Priority Jewels proposes a public issue of 54 lakh fresh shares without any OFS. Om Freight Forwarders plans a Rs 25 crore fresh issue alongside OFS of up to 72.5 lakh shares by promoters.All these IPOs are expected to list on both BSE and NSE.
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