Representative picture from file.
Generic drug maker Hindustan Laboratories and metal tubes and pipes producer RK Steel Manufacturing Company have secured Sebi’s approval to boost funds by way of preliminary public choices (IPOs), an replace with the markets regulator confirmed on Thursday.
The two corporations, which filed their preliminary IPO papers in September, obtained Sebi’s observations on April 27.
In Sebi’s parlance, acquiring observations is equal to securing approval to drift a public providing.
Hindustan Laboratories’ maiden public providing contains a recent subject of 50 lakh shares, together with a suggestion on the market (OFS) of 91 lakh shares by the promoter, based on the draft purple herring prospectus (DRHP).
The firm proposes to utilise IPO proceeds for funding the working capital necessities and basic company functions.
Hindustan Laboratories is an Indian pharmaceutical firm primarily engaged within the large-scale manufacturing and provide of generic medicines to authorities establishments beneath a business-to-government (B2G) framework.
RK Steel Manufacturing Company’s IPO is fully a recent subject of as much as 2 crore fairness shares with no OFS part, draft papers confirmed.
The firm plans to allocate funds in direction of compensation or prepayment of sure borrowings, working capital necessities, and basic company functions.
Shares of each corporations shall be listed on the BSE and NSE.
(Only the headline and film of this report could have been reworked by the Business Standard workers; the remaining of the content material is auto-generated from a syndicated feed.)
First Published: Apr 30 2026 | 7:16 PM IST