Sebi Greenlights Rs 2,100 Crore IPOs for Trio of Companies

Three companies, Varindera Constructions, Sambhv Steel Tubes, and Ellenbarrie Industrial Gases, have secured approval from the Securities and Exchange Board of India (Sebi) to raise over Rs 2,100 crore through IPOs. The IPOs include fresh equity issues and offers for sale by existing shareholders.

Three companies, namely Varindera Constructions, Sambhv Steel Tubes, and Ellenbarrie Industrial Gases, have obtained the green signal from the market regulator Sebi to raise over Rs 2,100 crore via Initial Public Offerings (IPOs).

The proposed IPOs will incorporate a blend of newly issued equity shares and an Offer For Sale (OFS) by current shareholders. The companies initially filed their draft proposals with Sebi between September and October 2024, and the regulator provided its observations from January 21 to 23.

In Sebi's terms, receiving observations equates to obtaining permission to proceed with public issues. The IPO plans include utilizing proceeds for various business expansion and debt repayment purposes across these companies.

(With inputs from agencies.)