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BLS E-Services, Jyoti CNC Automation, Popular Vehicles get SEBI approval to float IPOs

The SEBI has issued observation letters to Jyoti CNC Automation and Popular Vehicles & Services on December 15, while BLS E-Services received the said letter on December 12.

December 20, 2023 / 15:21 IST
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BLS E-Services, Jyoti CNC Automation, Popular Vehicles get Sebi approval for IPO

BLS E-Services, Jyoti CNC Automation, and Popular Vehicles & Services have received approval from the capital markets regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering.

The SEBI issued observation letters to Jyoti CNC Automation and Popular Vehicles & Services on December 15, while BLS E-Services received the said letter on December 12.

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The issuance of an observation letter means the SEBI has allowed the company to go ahead with its IPO plans.

Computerised numerical control machine manufacturer Jyoti CNC, which had filed preliminary papers in September this year, is planning to raise Rs 1,000 crore via public issue comprising only a fresh issue component of shares worth Rs 1,000 crore.