Business · India Bureau
Sebi clears IPO applications from Cult.fit, Eswari Global and Sohan Lal
India's markets regulator has granted in-principle approval for three companies to launch initial public offerings. The move comes as Zetwerk's IPO gathering momentum with strong anchor investor participation.
LSN India ·
The Securities and Exchange Board of India (Sebi) has granted regulatory clearance for fitness platform Cult.fit, metals trader Eswari Global Metal, and commodity dealer Sohan Lal Commodity to proceed with their respective initial public offerings, according to official filings.
The approvals mark a continuation of heightened capital market activity, with multiple companies queuing for public listings. The regulatory go-ahead enables the three firms to move forward with their fundraising plans and commence roadshows to attract investor interest.
In a related development, manufacturing and engineering platform Zetwerk is witnessing substantial demand for its IPO, which was subscribed 31 per cent by the end of Day 2 of the offering period. The company has successfully mobilised ₹2,251 crore from anchor investors, including global asset managers BlackRock and investment banking major Goldman Sachs, signalling strong institutional confidence in the offering.
The concurrent regulatory approvals and strong investor traction underscore the robust appetite in Indian capital markets for growth-oriented companies spanning diverse sectors ranging from consumer services to industrial commodities. Sebi's clearances pave the way for these entities to tap public markets for expansion and capital requirements.