Upcoming IPOs: Veeda Clinical, Shringar House of Mangalsutra, Rite Water among 5 firms to get SEBI nod to raise funds
Upcoming IPOs: Five companies — Veeda Clinical Research, Shringar House of Mangalsutra, Rite Water Solutions India, Seedworks International, and LCC Projects — have received SEBI’s approval to raise funds through initial public offerings (IPOs).
The market regulator has issued observation letters on draft papers of Veeda Clinical Research and LCC Projects on July 3 and for Shringar House of Mangalsutra, Rite Water Solutions India and Seedworks International on July 4, according to the latest processing status of the draft offer documents.
Here are the IPO details for the five companies that received the SEBI nod —
Veeda Clinical Research IPO details
Ahmedabad-based Veeda Clinical Research Limited filed its IPO papers with the market regulator on January 31, 2025, to raise a mix of a fresh issue of shares up to ₹185 crore with a face value of ₹2 per share and an offer-for-sale up to 130 lakh equity shares, as detailed in the draft red herring prospectus (DRHP).
Shrinagar House of Mangalsutra IPO details
Mumbai-based Shringar House of Mangalsutra filed its DRHP with the capital markets regulator on February 5, 2025, proposing a fresh issue of 2.43 crore equity shares with no offer for sale (OFS) component. The proceeds from the fresh issue, amounting to ₹250 crore, will be utilised for the company’s working capital needs and general corporate purposes, as Mint reported on February 6, 2025.
Rite Water Solutions IPO details
Nagpur-based Rite Water Solutions (India) has filed its DRHP with the capital markets regulator to raise ₹745 crore through the proposed IPO.
The IPO has a face value of ₹2 and includes a new issue of equity shares up to ₹300 crore, along with an offer-for-sale of up to ₹445 crore by the Promoter and Investor Selling Shareholders.
Seedworks International IPO details
The proposed IPO of the Telangana-based SeedWorks International DRHP will comprise an entirely offer-for-sale of 5.2 crore shares with a face value of ₹2. The company filed the DRHP with the market regulator on February 11, 2025 to raise funds via IPO.
LCC Projects IPO details
LCC Projects filed the IPO papers with SEBI on February 27, 2025. The IPO consists of a fresh issue worth ₹320 crore at a face value of ₹5 and an offer for sale of 2.29 crore shares by promoters.
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