India’s market regulator Sebi has cleared 13 initial public offerings (IPOs), giving a boost to companies preparing to go public in the second half of the year. The approvals include consumer services platform Urban Company and wearable electronics brand Boat, both expected to attract strong investor interest.
Urban Company IPO
Gurugram-based Urban Company has received approval for a ₹1,900-crore IPO, which is set to be one of the largest consumer internet listings this year. The offer includes a fresh issue of ₹429 crore and an offer-for-sale (OFS) of ₹1,471 crore by investors such as Accel, Bessemer, Elevation Capital, Internet Fund V, and VYC11.
Founded in 2014 by Abhiraj Singh Bhal, Raghav Chandra and Varun Khaitan, Urban Company provides at-home services ranging from beauty and cleaning to repairs. Funds from the fresh issue will be used for business expansion, technology investment, and general corporate purposes.
Boat’s IPO Revival
Boat’s parent company, Imagine Marketing, had earlier deferred its IPO plans but revived the process this year through Sebi’s confidential pre-filing route. Filed on April 9 and cleared on August 1, the IPO will mark a significant milestone for the lifestyle electronics and wearables brand, though its issue size has not yet been disclosed.
Other IPO Approvals
The remaining companies that received Sebi’s go-ahead include:
- Allchem Lifescience
- Pace Digitek
- Jain Resource Recycling
- Om Freight Forwarders
- Corona Remedies
- Priority Jewels
- Mouri Tech
- Ravi Infrabuild Projects
- KSH International
- Omnitech Engineering
- Juniper Green Energy
Together, the 13 issues are expected to raise around ₹14,000 crore, excluding undisclosed sizes from Boat and Priority Jewels.
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