SEBI approved IPO of 4 companies: Companies provide loans and financial services from making FMCG products

The Security Exchange Board of India i.e. SEBI has approved the Initial Public Offer (IPO) of four companies including Ajay Poly Limited, Regal Resources, Laxmi India Finance and Jaju Rashmi Refractor.

These companies provide loans and financial services from making FMCG products. All companies will soon raise money from investors in the market to expand their business.

These companies are bringing IPO

Ajay Poly Limited: Delhi -based company makes refrigeration sealing solutions. This IPO will have a fresh issue of ₹ 238 crore and an offer of 93 lakh shares for Four Sale (O.S). The face value of each equity share is 1 rupee.

Regal Resources: This Kolkata company is one of the top players making maize-based FMCG products. This IPO will have a fresh issue of ₹ 190 crore and an offer of 90 lakh shares for Four Sale (O.S). The face value of each equity share is 5 rupees.

Laxmi India Finance:This NBFC company from Jaipur offers loan and financial services. This IPO will have a fresh issue of 1.04 crore shares and an offer of 56.38 lakh shares for Four Sale (O.S). The face value of each equity share is 5 rupees.

Jaju Rashmi refractor: The Jaipur -based company makes raw materials of steel manufacturing like Ferro Silicon, Ferro Manganese. In this IPO, the company will raise ₹ 150 crore through fresh issue. The face value of each equity share is 10 rupees.

What is IPO?

When a company releases its shares for the common people for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to increase business. In such a situation, instead of taking loans from the market, the company raises money by selling some shares to public or issuing new share. For this, the company brings IPO.