Sebi clears IPOs of 13 firms including Urban Company, Boat's parent

Sebi has approved IPOs for 13 companies, including Urban Company and Boat's parent Imagine Marketing, with issues worth Rs 15,000 crore expected in the coming months

The Securities and Exchange Board of India (Sebi) approved initial public offerings (IPOs) for 13 companies last week, including prominent names like Urban Company and Imagine Marketing, the parent of BoAt headphones and smartwatches. The move potentially enables primary issuance of ₹15,000 crore in the coming months.

 

Imagine Marketing filed its draft documents via the confidential route in April, marking its second attempt to go public after withdrawing its previous IPO application in 2022. Urban Company, backed by Tiger Global and Accel, is targeting a ₹1,900 crore fundraise through a mix of fresh shares and an offer-for-sale, and is expected to launch its IPO later this month.

 

Sebi has also approved IPOs for Juniper Green Energy, Jain Resource Recycling, Ravi Infrabuild Projects, Mouri Tech, Allchem Lifescience, Omnitech Engineering, KSH International, Pace Digitek, Priority Jewels, Corona Remedies, and Om Freight Forwarders. This represents one of the busiest weeks for IPO approvals in recent history. 

 

Earlier in August, Sebi whole-time member Kamlesh Chandra Varshney indicated that August could witness the highest number of IPO approvals ever, citing the regulator’s increased processing capacity designed to prevent application backlogs exceeding two or three months, barring complicated cases.

 

Most of the recently approved companies had submitted their draft red herring prospectuses (DRHPs) between March and June. The surge in approvals coincides with a vibrant primary market: August alone saw 12 companies debut on the stock exchanges and 34 SMEs listed, signaling robust investor demand. 

 

In July, 13 companies were listed on the main board. Sebi data shows that over 70 companies, including Lenskart, Hero Motors, Indira IVF, and Canara Robeco Asset Management, are currently awaiting approval for their draft documents. These companies could raise a cumulative ₹1.4 trillion.