12 Tamil Nadu-based companies get regulatory approval for public issue

TAMIL NADU-based Jain Resources Recycling Limited (JRRL), a subsidiary of Jain Metal Group, has become the fifth company from Chennai to raise funds through an IPO in 2025 after receiving approval from the Securities and Exchange Board of India (Sebi) on Tuesday.

- SANAL SUDEVAN @ Chennai

JRRL and 12 other firms recently received SEBI's nod to float public issues.

Four other state-based firms—Lalithaa Jewellery, Veritas Finance Ltd, CIEL HR, and Milky Mist Dairy Food Ltd—have also filed draft red herring prospectuses (DRHP) with Sebi. Earlier this year, four companies from Chennai—Dr Agarwal Health Care, Sattva Engineering Construction, LGT Business Connextions Ltd, and FlySBS Aviation—were listed on the stock exchanges. Of these, Sattva debuted on Wednesday, while Sattva, LGT and FlySBS were listed under the SME category.