Razorpay Software, MakeMyTrip India and Sembcorp Green Infra have received approval from the Securities and Exchange Board of India (SEBI) to proceed with their proposed initial public offerings (IPOs).
Razorpay Software and MakeMyTrip India approached the capital markets regulator by filing their draft offer documents through the confidential pre-filing route in June and July this year, respectively, while Sembcorp Green Infra filed its draft red herring prospectus (DRHP) with SEBI in August.
Under SEBI's confidential pre-filing route, companies can submit draft offer documents without publicly disclosing sensitive business and financial information.
SEBI issued its observations on Razorpay Software's confidential draft offer documents on November 3, MakeMyTrip India's on November 6, and Sembcorp Green Infra's IPO papers on November 13, according to the processing status of draft offer documents for the week published on November 13.
The issuance of observations allows companies to proceed with their IPO plans. Companies opting for the confidential filing route have 18 months to launch their IPOs after receiving SEBI's observations, compared with 12 months for those following the regular filing route.