Five Companies Get Nod from Sebi for Upcoming IPOs

Five companies, including Bajaj Housing Finance and Manba Finance, received approval from Sebi to mobilize funds through IPOs. The firms filed their preliminary papers between March and June. The IPOs aim to comply with regulations, raise capital, and meet various future financial requirements.

Five companies, including Bajaj Housing Finance and Manba Finance, have received Sebi's go-ahead to mobilise funds through their initial public offerings (IPOs), according to an update from the markets regulator on Monday.

Additionally receiving approval are Baazar Style Retail, Diffusion Engineers Ltd, and Deepak Builders & Engineers India. However, Sebi returned the draft IPO document of Santhan Textiles Ltd on July 31. Sebi has also lifted its abeyance on the proposed Rs 2,200 crore share-sale by SK Finance.

The five firms, which filed preliminary IPO papers with Sebi between March and June, obtained the regulator's observation letters from July 30 to August 5, signaling the regulator's go-ahead for the public issues.

Bajaj Housing Finance plans a Rs 7,000-crore IPO consisting of a Rs 4,000-crore fresh issue and a Rs 3,000-crore offer for sale by parent Bajaj Finance to comply with RBI regulations for non-banking financial companies to be listed by 2025. Proceeds from the fresh issue will boost the company's capital base.

Manba Finance's proposed IPO is a fresh issue of 1.26 crore shares, with proceeds to be used for capital base augmentation. Baazar Style Retail intends to raise Rs 148 crore via fresh issue alongside a 1.68 crore share offer for sale.

Diffusion Engineers plans a fresh issuance of 98.5 lakh shares to expand its manufacturing facilities, while Deepak Builders' IPO includes a 1.2 crore fresh issue and a 24 lakh-share offer for sale. Funds from these IPOs are earmarked for various needs including debt repayment, working capital, and general corporate purposes.

Shares of these firms are slated for listing on the BSE and NSE.

(With inputs from agencies.)