Four Companies Secure Sebi Nod for IPOs

Four companies, including Premier Energies Ltd and P N Gadgil Jewellers Ltd, have received approval from the Securities and Exchange Board of India (Sebi) to raise funds through Initial Public Offerings (IPOs). The other firms are Ecos India Mobility and Hospitality Ltd and KRN Heat Exchanger Ltd.

In a significant development, four companies have received the green light from the Securities and Exchange Board of India (Sebi) to initiate fund-raising through Initial Public Offerings (IPOs). Premier Energies Ltd and P N Gadgil Jewellers Ltd are among the companies that have secured this pivotal approval, according to an update from the markets regulator on Tuesday.

Joining them in obtaining Sebi's clearance are Ecos India Mobility and Hospitality Ltd and KRN Heat Exchanger Ltd. These firms submitted their preliminary IPO papers from March to April, with Sebi granting observation letters between July 22-26, signaling approval to proceed with their public issues.

The IPOs aim to fund diverse ventures, including solar PV manufacturing, expansion of retail chains, mobility services, and new manufacturing facilities. All four companies will be listed on both BSE and NSE.

(With inputs from agencies.)