Sebi Greenlights Prozeal Green Energy and Neilsoft IPO Ventures

Prozeal Green Energy and Neilsoft have received approval from SEBI to launch initial public offerings (IPOs). Prozeal aims to raise Rs 700 crore, while Neilsoft plans a mix of fresh shares and offers-for-sale, using the funds primarily for capital expenditure and corporate purposes.

Prozeal Green Energy and Neilsoft have been given the go-ahead by the Securities and Exchange Board of India (Sebi) to proceed with their initial public offerings (IPOs), as indicated by a recent regulatory update.

Both companies had initially filed their preliminary IPO documents earlier this year, with Prozeal submitting in March and Neilsoft in May. The regulator's approval came through in early September.

Prozeal Green Energy is targeting a Rs 700 crore raise from its IPO, which combines a fresh issue of equity shares and an offer-for-sale by its promoters. Neilsoft, meanwhile, will offer a blend of fresh shares and existing holdings for a total worth of Rs 90 crore.

(With inputs from agencies.)