Markets regulator SEBI has greenlit the initial public offerings (IPOs) of new-age tech companies SEDEMAC and InCred. In its weekly update, the markets regulator said it issued observation letters to the fintech company yesterday and the deeptech company today. In SEBI’s parlance, the issuance of an observation letter is a formal go-ahead to proceed with the IPO. InCred filed its IPO papers confidentially in November. While exact details of the issue size is not clear, the company earlier sought shareholders’ approval to raise up to ₹1,500 Cr via a fresh issue of shares from its IPO. As per reports, the total size of the IPO is expected to be in a range of ₹3,000 Cr to ₹4,000 Cr. As per its last disclosed financial performance for the fiscal year FY25, InCred Holdings’ net profit surged 21% to ₹373.1 Cr from ₹309 Cr in the previous fiscal. Operating revenue zoomed 47% to ₹1,873.6 Cr from ₹1,272.7 Cr in FY24. Meanwhile, SEDEMAC Mechatronics, which is an IIT Bombay-incubated deeptech company, also filed its DRHP in November. Its public issue would comprise solely an offer-for-sale component, with investors and promoters cumulatively selling up to 80.43 Lakh shares. The selling investors include A91 Partners… Read MoreInc42 Media
