New IPO Wave: Four Companies Secure Sebi's Nod for Rs 1,400 Crore Mobilisation

Four companies, including Knack Packaging and Shivalaya Construction, received Sebi's approval to collectively raise over Rs 1,400 crore through IPOs. Varmora Granito and Behari Lal Engineering also secured nods. Meanwhile, Infifresh Foods withdrew its draft. These firms aim to bolster manufacturing, repay debts, and fund corporate needs with the proceeds.

Four eminent companies, Knack Packaging, Shivalaya Construction, Varmora Granito, and Behari Lal Engineering, are poised to mobilize over Rs 1,400 crore through initial public offerings (IPOs) after securing approval from the Securities and Exchange Board of India (Sebi). The regulator's go-ahead allows these companies to proceed with their public issues.

Each company has earmarked substantial amounts for specific objectives: Knack Packaging plans a Rs 435 crore investment in a new manufacturing unit, while Shivalaya Construction aims to allocate Rs 340 crore for debt repayment. Varmora Granito and Behari Lal Engineering also have targeted plans to utilize their funds efficiently.

In contrast, Infifresh Foods decided to withdraw its IPO draft filed earlier via the confidential route. This recent surge in IPO approvals reflects the buoyant investor confidence and the enabling financial climate that characterized a record-breaking IPO market in previous years.

(With inputs from agencies.)