Infra.Market, Purple Style Labs Among 12 Firms Get Sebi Nod for IPOs

As many as 12 companies, including Hella Infra Market — the parent of construction-tech platform Infra.Market — and luxury fashion firm Purple Style Labs, have received regulatory clearance from the Securities and Exchange Board of India (Sebi) to raise funds through initial public offerings (IPOs).

According to an update from the markets regulator on Friday, the other companies that secured Sebi’s approval are Jay Jagdamba Ltd, UKB Electronics, CMR Green Technologies, Transline Technologies, Medicap Healthcare, Oswal Cables, BVG India, Sai Parenteral’s, Commtel Networks, and Sify Infinit Spaces.

All 12 firms had filed their draft red herring prospectuses with Sebi between June and October last year. The regulator issued its observations — a key step before launching an IPO — between January 19 and January 23, the update showed.

Sebi’s observations indicate that the companies can proceed with launching their public issues within the prescribed time frame, subject to market conditions and final approvals.

The clearances come at a time when primary markets are witnessing renewed activity, with several companies lining up to tap investors amid improving sentiment and liquidity in the equity markets.