SEBI Approves IPOs Of Credila Financial Services, Sri Lotus Developers, Other Firms
SEBI reviewed preliminary IPO documents of these companies between October 2024 and January 2025.
Seven companies, including Credila Financial Services, Sri Lotus Developers and Realty, and Euro Pratik, have received SEBI's approval to raise funds through initial public offerings, according to an update from the markets regulator on Tuesday.
Other companies that secured clearance to launch IPOs include Caliber Mining and Logistics, Jaro Institute of Technology Management and Research, Jesons Industries, and Gem Aromatics.
The markets regulator reviewed preliminary IPO documents of these companies between October 2024 and January 2025 and issued its observations between May 13-16, 2025, signaling its go-ahead for the public issue.
Credila Financial Services Ltd, previously known as HDFC Credila Financial Services, filed its draft papers with the Securities and Exchange Board of India in December, through a confidential pre-filing route, allowing the company to keep certain details undisclosed in the DRHP.
Sri Lotus Developers, backed by Bollywood stars and investor Ashish Kacholia, is planning to raise Rs 792 crore through a fresh issue of shares, with no offer-for-sale component. The funds will be invested in subsidiaries such as Richfeel Real Estate, Dhyan Projects, and Tryksha Real Estate Pvt., and used for construction costs of ongoing projects like Amalfi, The Arcadian, and Varun, along with general corporate purposes.
Euro Pratik, a key player in the decorative wall panel industry, is set to launch a Rs 730-crore IPO, which will consist entirely of an offer for sale by promoters.
Nagpur-based Caliber Mining and Logistics, a coal mining and logistics provider, plans to raise Rs 600 crore through its IPO, comprising Rs 500 crore from fresh equity shares and Rs 100 crore from an OFS by promoters. The proceeds will be used for debt repayment, machinery purchases, and general corporate expenses.
Jaro Institute's Rs 570-crore IPO consists of a fresh issue of shares worth up to Rs 170 crore and OFS of shares valued at Rs 400 crore by promoter Sanjay Namdeo Salunkhe.
The company plans to utilise funds for marketing, brand building and advertising activities, payment of debt and general corporate purposes.
Jesons Industries' IPO comprises a fresh issue of equity shares worth Rs 300 crore and an offer-for-sale of 94.61 lakh shares by a promoter. Proceeds from the fresh issue will be used for repaying debt, funding capital expenditure, and general corporate purposes.
The IPO of Mumbai-based Gem Aromatics, a manufacturer of specialty ingredients, is a mix of fresh issue of equity shares worth up to Rs 175 crore and an OFS of up to 89.24 lakh shares each by the promoter and an investor.
Proceeds from the fresh issue will be used by Gem Aromatics for debt repayment and general corporate purposes.
Shares of these seven companies will be listed on the BSE and NSE.
(With inputs from PTI).
