Urban Company, boAt, 11 Others Get IPO Nod

MARKETS REGULATOR SECURITIES and Exchange Board of India (Sebi) has approved 13 companies to launch initial public offerings (IPOs) collectively worth over ₹16,000 crore, including audio and wearables brand boAt's parent Imagine Marketing, home services platform Urban Company, renewable power firm Juniper Green Energy, and pharmaceutical company Corona Remedies.

- FE BUREAU

Others cleared for IPO are Pace Digitek, Jain Resource Recycling, Allchem Lifescience, Mouri Tech, Ravi Infrabuild Projects, KSH International, Omnitech Engineering, Priority Jewels, and Om Freight Forwarders.

Imagine Marketing, backed by Warburg Pincus, confidentially filed its IPO papers in April to raise funds at a valuation of around ₹13,000 crore. This is its second attempt at listing, following a 2022 plan for a ₹2,000-crore IPO. The confidential filing route provides flexibility, allowing adjustments of up to 50% in the issue size and an 18-month window from Sebi's comments to launch the IPO.