Sebi approves IPOs of Veritas Finance, Laxmi India Finance, 3 others

The Securities and Exchange Board of India (Sebi) has approved the initial public offerings (IPOs) of five companies, including Veritas Finance, Laxmi India Finance, Jaajoo Rashmi Refractories, Ajay Poly, and Regaal Resources.  Veritas Finance, a non-deposit taking non-banking financial company (NBFC), plans to raise funds through a public offer comprising a fresh issue of ₹600 crore and an offer for sale (OFS) worth ₹2,200 crore. 

  Another NBFC, Laxmi India Finance, has received Sebi’s approval for its IPO, which includes a fresh issue of 10.4 million shares and an OFS of 5.64 million shares by promoters.  Meanwhile, carbon validation and verification services provider Earthood Services has withdrawn its IPO application.