SEBI grants approval to six IPOs including Jaro Institute, Sri Lotus, Euro Pratik

The Securities and Exchange Board of India (SEBI) has given the green light to six companies for their Initial Public Offerings (IPOs). This includes Jesons Industries, Jaro Institute, Sri Lotus Developers, Caliber Mining, Euro Pratik, and Gem Aromatics. Each company is set to launch its IPO soon, aiming to bolster their business ventures and financial standing.

Jesons Industries, based in Mumbai, is preparing an IPO with a face value of Rs 5, combining a fresh issue of Rs 300 crore and an offer for sale of 9.46 million shares by Dhiresh Shashikant Gosalia. Jesons is renowned for its coating emulsions and water-based pressure-sensitive adhesives, commanding significant market shares in these segments in India. They hold a 27% share in coating emulsions for the Indian paint sector and a 35% share in water-based adhesives for tapes and labels.

Sri Lotus Developers, another Mumbai-based venture, specialises in ultra-luxury and luxury redevelopment projects. The company plans to raise Rs 792 crore, focusing on redevelopment projects in Mumbai's affluent western suburbs. The IPO will be a fresh issue with a face value of Re 1, with no offer-for-sale component. This will enable them to expand their operations in one of India’s top real estate markets.

Jaro Institute of Technology Management and Research is set to launch an IPO valued at Rs 570 crore, comprising Rs 170 crore as fresh issuance and Rs 400 crore as an offer for sale by Sanjay Namdeo Salunkhe. As a leading online higher education platform, Jaro Institute is recognised for its metrics in EBITDA, PAT, and ROE as of March 31, 2023. The IPO aims to further its educational offerings across online, hybrid, and in-person formats.

Gem Aromatics, a prominent manufacturer of essential oils and derivatives, is planning an IPO with a face value of Rs 2. The IPO will include a fresh issue of Rs 175 crore and an offer for sale of 89,24,274 shares. Gem Aromatics is the largest procurer and processor of various oils in India, which places it at a leading position in the essential oils market.

Caliber Mining and Logistics, offering comprehensive coal extraction and logistics services, aims to raise Rs 600 crore through its IPO. This will involve a Rs 500 crore fresh issue and a Rs 100 crore offer for sale by promoters. Caliber Mining operates extensively in Maharashtra, Chhattisgarh, and Madhya Pradesh, serving subsidiaries of Coal India Limited such as Western Coalfields Limited and Northern Coalfields Limited.

Euro Pratik Sales, known for its decorative wall panels and laminates, plans an IPO worth Rs 730 crore, entirely an offer for sale with a face value of Re 1. Euro Pratik holds a substantial market share in the organised decorative wall panels industry in India. Their extensive product range caters to both residential and commercial applications under the brands “Euro Pratik” and Gloirio”.

These IPOs reflect the companies’ strategic initiatives to enhance their market positions and financial resources. Each firm’s IPO, while offering shares to the public, is also a step towards achieving long-term business growth and maintaining competitive advantages in their respective sectors.

The approval by SEBI marks a significant milestone for these companies, providing them with the opportunity to secure capital from the public market. While exact dates for these IPOs are yet to be announced, their entry into the stock market is highly anticipated by investors and stakeholders alike.