SEBI clears IPOs of Jio Platforms, 6 other firms
What's the story
The Securities and Exchange Board of India (SEBI) has approved the initial public offering (IPO) plans of seven companies, including Reliance-backed Jio Platforms. The approval comes as a major boost to India's primary-market pipeline, which has been buzzing with activity across sectors like healthcare, packaging, fintech, consumer brands, and digital platforms. The move is expected to further strengthen the country's capital markets.
Major listing
Jio Platforms seeks ₹37,700 crore via public issue
Jio Platforms, Reliance-backed, has received SEBI's nod for its proposed public listing. The company is looking to raise around ₹37,700 crore through the issue.
If successful, it would be one of India's largest IPOs with a valuation of nearly ₹9.5 lakh crore.
The approval comes as a major milestone in Jio Platforms's journey toward becoming a publicly listed company.
Hospital chain's IPO
Paras Healthcare plans ₹1,800 crore IPO
Paras Healthcare, another major player in this batch of approved IPOs, is looking to raise up to ₹1,800 crore.
The amount will include a fresh issue of up to ₹500 crore and an offer for sale of up to ₹1,300 crore by the selling shareholder.
Paras Healthcare operates under the brand name Paras Health and provides tertiary and quaternary healthcare services across North India.
Packaging and tech
Bharat PET and Paramotor Digital Technology get nod for IPOs
Bharat PET, an integrated packaging solutions provider, has received SEBI's approval for a ₹760 crore IPO.
The issue will include a fresh issue of up to ₹120 crore and an offer for sale of up to ₹640 crore by promoter selling shareholders.
Paramotor Digital Technology, a fintech and enterprise tech company, has also got SEBI's nod for its IPO.
Spice and jewels
Proposed issues from Pushp Brand India, MK Sons Fine Jewels
Pushp Brand India, a packaged spice company from Indore, has also got SEBI's approval for its proposed IPO.
The company is one of India's fastest-growing players in the packaged spice segment.
MK Sons Fine Jewels's proposed issue is a book-built offer of up to 1.7 crore equity shares, comprising a fresh issue of 1.36 crore shares and an offer for sale of 34 lakh shares.
Information
Sadbhav Futuretech also on the list
Sadbhav Futuretech is also among the companies in the list. Its proposed IPO comprises a fresh issue of up to 2.55 crore equity shares, and offer for sale by several existing shareholders. The company may also explore a pre-IPO placement before filing its red herring prospectus.