Five firms get Sebi’s nod to float IPOs

New Delhi: As many as five companies, including Premier Industrial Corporation and mattress maker Duroflex, have secured Sebi approval to launch their IPOs, an update with the markets regulator showed. Besides, pharmaceutical company Virupaksha Organics, Mumbai-based Hexagon Nutrition, and Om Power Transmission have received approvals from the regulator.

These companies, which filed their preliminary IPO papers with Sebi between September and October, received Sebi’s observations between February 10 and 13, the update showed. In regulatory parlance, receipt of observations allows companies to proceed with their public issues.

According to the draft papers of Premier Industrial Corporation, the proposed initial public offering (IPO) comprises a fresh issue of up to 2.25 crore shares and an OFS of up to 54 lakh shares.