5-firms get Sebi’s nod to float IPOs

As many as five companies, including supply chain asset pooling firm LEAP India and Eldorado Agritech, have secured Sebi’s approval to raise funds through initial public offerings (IPOs), an update with the regulator showed on Tuesday.

Other firms that received regulatory clearance are Molbio Diagnostics, backed by Temasek and Motilal Oswal Private Equity; Foodlink F&B Holdings (India), a catering and food retail chain company; and Technocraft Ventures, a wastewater treatment solutions provider.

All five companies, which filed their preliminary IPO papers between June and September, obtained the regulator’s observations between November 25 and December 5, the update showed.

In Sebi’s parlance, receiving observations is equivalent to its go-ahead to proceed with a public issue.

On the other hand, two companies -- Inox Clean Energy and Sky Alloys and Power -- have withdrawn their respective IPO papers on December 5.