SEBI approves IPO plans for 4 companies including Cult.fit
The Securities and Exchange Board of India, or SEBI, just approved initial public offering (IPO) plans for four companies, including fitness and active lifestyle platform Cult.fit and Sohan Lal Commodity Management.
This means these companies can finally move ahead with their stock market launches after getting the official go-ahead earlier this week.
Cult.fit to raise ₹950cr via IPO
Cult.fit, co-founded by Myntra founder Mukesh Bansal, is looking to raise ₹950 crore by selling new shares and letting existing investors like Temasek Holdings-backed MacRitchie Investments and Tata Digital reduce their stakes.
Indian Gas Exchange will also see its promoter, Indian Energy Exchange, sell some of its shares.
Meanwhile, Eswari Global Metal Industries plans to raise ₹500 crore through fresh equity, and Sohan Lal Commodity Management has 18 months to update its paperwork before launching its own IPO.