SEBI approves IPOs for Ajay Poly, Regaal Resources, Laxmi India Finance & Jajoo Rashmi Refractories

The Securities and Exchange Board of India (SEBI) has granted approval for the initial public offerings (IPOs) of four companies- Ajay Poly, Regaal Resources, Laxmi India Finance, and Jajoo Rashmi Refractories. These companies are set to launch their IPOs with a mix of fresh issues and offers for sale. This approval marks a significant step for these companies as they seek to raise substantial capital through the public markets.

Ajay Poly, a Delhi-based company specializing in refrigeration sealing solutions, plans to raise funds through an IPO consisting of a fresh issue of shares worth Rs 238 crore and an offer for sale of up to 93,00,000 equity shares. The face value of each share is set at Re 1. The company had initially filed its IPO documents with SEBI on December 28, 2024. Motilal Oswal Investment Advisors Limited and SBI Capital Markets Limited are the lead managers, with KFin Technologies Limited serving as the registrar for the issue.

Regaal Resources, based in Kolkata and known for its maize-based specialty products, aims to raise Rs 190 crore through a fresh issue of shares. Additionally, an offer for sale of up to 9 million equity shares by promoters is included in the IPO. The shares have a face value of Rs 5. The company submitted its IPO application to SEBI on December 31, 2024. Pantomath Capital Advisors Private Limited and Sumedha Fiscal Services Limited are managing the issue, with Link Intime India Private Limited as the registrar.

Laxmi India Finance, a non-banking financial company from Jaipur, plans to offer a fresh issue of 1,04,53,575 shares and an offer for sale of 56,38,620 shares. Each share carries a face value of Rs 5. The company had filed its IPO papers with SEBI on December 15, 2024. PL Capital Markets Private Limited is the sole book-running lead manager, and Link Intime India Private Limited is the registrar.

Jajoo Rashmi Refractories, also Jaipur-based, focuses on manufacturing ferro alloys essential for the steel industry. Its IPO is entirely a fresh issue, aiming to raise Rs 150 crore, with a face value of Rs 10 per share. The company filed its documents on December 21, 2024. Unistone Capital Private Limited is the lead manager, while Bigshare Services Private Limited acts as the registrar. Notably, this offering does not include an offer for sale component.

The approval from SEBI is crucial for these companies, enabling them to tap into the equity market for funding. The diverse sectors they belong to, ranging from refrigeration solutions to financial services and manufacturing, reflect varied investor interests. Investors and market watchers will be keenly observing these IPOs, which are expected to bring fresh opportunities in their respective sectors.