IPO Surge: Trio of Firms Garner SEBI Approval to Raise Rs 3,300 Crore

Three companies, Eastman Auto and Power, Milestone Gears, and Bonbloc Technologies, have received SEBI's approval for initial public offerings (IPOs) totaling Rs 3,300 crore. Eastman aims to raise Rs 1,800-2,000 crore, Milestone Gears Rs 1,100 crore, and Bonbloc Technologies Rs 230 crore through fresh issues and offers for sale.

Eastman Auto and Power, Milestone Gears, and Bonbloc Technologies have received the go-ahead from SEBI for IPOs amounting to Rs 3,300 crore.

The regulatory approvals follow the companies’ submission of preliminary papers and the subsequent regulatory observations.

This marks a significant step in securing funds from the public market, with nearly a dozen companies launching IPOs this year.