Mrs Bectors Food and Sansera Engineering obtained “observations” from the Securities and Exchange Board of India (Sebi) on November 9 and November 12, respectively, showed the latest update with the markets watchdog.
The two companies had filed their draft papers with the regulator in August, seeking its go-ahead to float initial public offerings (IPO).
According to its draft papers, Mrs Bectors Food’s IPO will see sale of shares to the tune of ~8 billion by existing shareholders and promoters.
“Listing of the equity shares will enhance our visibility and brand and provide liquidity to its existing shareholders,” the company said.
Sansera Engineering’s IPO will see a sale of up to 17,244,328 equity shares by existing shareholders as well as promoters.
“The listing of equity shares will enhance our brand name and visibility and provide liquidity to the existing shareholders. The listing will also provide a public market for equity shares in India,” Sansera Engineering said.