Sebi Clears Five IPO Proposals

Mumbai: Five companies initial public offerings proposals were cleared by market regulator Securities and Exchange Board of India last week as per latest updates provided by Sebi. Veritas Finance, Laxmi India Finance, Ajay Poly, Regaal Resources and Jaajoo Rashmi Refractories have received Sebi approval for their IPOs as per details available.

Veritas Finance's public offer comprises of a fresh issue of Rs 600 crore and an offer for sale of Rs 2200 crore by existing shareholders .It is a retail-focused non-deposit taking NBFC. Meanwhile GK Energy, India's largest pure-play EPC provider of solar -powered agricultural water pump systems by installations has filed an addendum to IPO draft red herring prospectus filed with Sebi, updating FY 25 revenue of Rs 1094.83 crore(Rs 285.03 crore in FY23) and Rs 133.20 crore profit in FY25( Rs 10 crore in FY 23).