Atomberg Technologies and Ratnadeep Retail were among four companies that received approval from the Securities and Exchange Board of India (SEBI) to proceed with their proposed initial public offerings (IPOs). GNI Infrastructure and Punjab Carbonic were the other two companies to receive observations from the capital markets regulator.
Atomberg Technologies filed its draft red herring prospectus (DRHP) with SEBI on August 20, seeking to raise funds through an IPO. Supermarket chain Ratnadeep Retail filed its draft papers on July 1, followed by GNI Infrastructure on June 30 and Punjab Carbonic on March 31.
According to SEBI's processing status of draft offer documents published this week, the regulator issued its observations on the IPO papers of Ratnadeep Retail on October 27, Punjab Carbonic on October 29, and Atomberg Technologies and GNI Infrastructure on October 30.
The issuance of SEBI observations allows companies to proceed with the next stages of the IPO process, including filing their red herring prospectus with the Registrar of Companies (RoC) and launching their public issues within the next one year.
Temasek Holdings and A91 Partners-backed Atomberg Technologies, a Mumbai-based company that manufactures consumer appliances under the Atomberg brand, plans to raise Rs 450 crore through a fresh issue of shares.