SEBI Approves 13 IPOs Including boAT, Juniper Green, Urban Company

The Securities and Exchange Board of India approved the initial public offering plans of 13 companies including boAt's parent company, Imagine Marketing Ltd., Urban Company and Juniper Green Energy Ltd.

The market regulator issued its so-called 'observation letter' to these companies, which in SEBI parlance means an approval, during the week ending Aug. 29.

Wearables brand boAt's parent company filed draft papers for an IPO through a confidential pre-filing route in April, a second attempt to go public. The confidential pre-filing route allows the company to withhold public disclosure of details under the draft red herring prospectus until later stages. However, pre-filing DRHP does not guarantee the company will go ahead with the maiden public offering.

Accel-backed home services provider Urban Company filed draft papers for an issue worth up to Rs 1,900 crore in April. The IPO will be a combination of a fresh issue of Rs 429 crore and a stake sale by existing investors.

Juniper Green Energy is an independent renewable energy power producer in India, focused on the development, construction and operations of utility-scale solar, wind, and hybrid renewable energy projects. The company's IPO plans to raise up to Rs 3,000 crore via a fresh issue.

As per the latest filing, IPO applications of at least 53 companies are with the SEBI. Indian companies have been increasingly eyeing the primary market to raise funds amid rising retail participation in equities and growing confidence in the stock market.