 "Sebi nod to seven IPOs including Credila Financial and Sri Lotus Realty")
The Securities and Exchange Board of India (Sebi) has approved initial public offering (IPO) of seven companies, namely Credila Financial Services, Caliber Mining and Logistics, Sri Lotus Developers and Realty, Jesons Industries, Gem Aromatics, Euro Pratik Sales, and Jaro Institute of Technology and Management.
The market regulator issued observation letters for these companies between May 13 and May 16.
Education loan provider Credila’s ₹5,000 crore IPO comprises both fresh issue and offer for sale. In March 2024, the HDFC Bank had completed the stake sale in HDFC Credila Financial Services to private equity companies BPEA EQT and ChrysCapital for ₹9,553 crore.
Ashish Kacholia-backed realty firm Sri Lotus Developers and Realty’s IPO will be a fresh issue for ₹792 crore. The company focuses on redevelopment projects in the luxury segment in Mumbai and boasts investments from several Bollywood actors.
Coal extraction and logistics company Caliber Mining and Logistics’ IPO consists of a ₹500 crore fresh issue and ₹100 crore OFS from promoter selling shareholders. On the other hand, Euro Pratik plans to float a ₹730 crore public issue, which is entirely an OFS by promoters.
Investment bankers have indicated that many companies whose IPOs were approved are now lining up for listing with sentiments improving in the market.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%