Green Light for IPOs: LEAP India, Eldorado Agritech, and More Set to Hit Markets

Five companies, including LEAP India and Eldorado Agritech, have received SEBI's approval for IPOs. Others include Molbio Diagnostics, Foodlink F&B Holdings, and Technocraft Ventures. Meanwhile, Inox Clean Energy and Sky Alloys withdrew their IPOs. Funds from these IPOs will be used for debt repayment, infrastructure, and business expansion.

In a significant development for the financial market, five companies have obtained approval from the Securities and Exchange Board of India (SEBI) for their initial public offerings (IPOs). The firms include LEAP India, Eldorado Agritech, Molbio Diagnostics, Foodlink F&B Holdings, and Technocraft Ventures.

LEAP India's Rs 2,400 crore IPO combines a fresh share issue and an offer-for-sale, with proceeds aimed at debt repayment and working capital. Eldorado Agritech plans to raise Rs 1,000 crore through its IPO, with funds earmarked for debt clearance and corporate purposes. Molbio Diagnostics seeks funds for research infrastructure via a Rs 200 crore IPO.

Foodlink F&B intends to use its IPO proceeds for kitchen development and expanding its restaurant chain. Technocraft Ventures plans to support its working capital needs through its IPO. Conversely, Inox Clean Energy and Sky Alloys withdrew their IPO plans but may return after financial adjustments.

(With inputs from agencies.)