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The Securities and Exchange Board of India (Sebi) received the draft offer documents of the four companies between May and July. The regulator issued its observations on their IPO proposals between September 28 and October 1, according to an update on Sebi's website on Thursday. The Sebi observations mark an important step in the IPO process, allowing companies to proceed with preparations for their public issues, subject to applicable regulatory requirements. Carlsberg India Ltd, the Indian subsidiary of Danish brewing major Carlsberg Group, had submitted confidential pre-filed draft papers with Sebi on July 1. The confidential filing route allows companies to submit draft offer documents to markets regulator Sebi for review without immediately making commercially sensitive information public. With this move, Carlsberg joined a growing list of multinational companies looking to tap India's equity markets. South Korean conglomerates - Hyundai Motor and LG Electronics - have already listed their Indian subsidiaries to unlock shareholder value. TMC Transformers (India) Ltd's proposed Rs 550-crore IPO is entirely a fresh issue of equity shares, with no offer-for-sale (OFS) component. The company plans to use the IPO proceeds to fund capital expenditure for setting up a greenfield Extra High Voltage (EHV) transformer manufacturing facility with an installed capacity of 78,000 MVA at Halol in Gujarat. The funds will also be used to meet incremental working capital requirements and for general corporate purposes. Ujin Pharma's proposed IPO comprises a fresh issue of 1.18 crore equity shares and an OFS of 72.82 lakh shares by promoters Jinesh Rasiklal Sheth and Umang Ketan Mehta. Of the proceeds from the fresh issue, the Mumbai-based company plans to invest Rs 61.7 crore in Altra Agro-Chem and Rs 21.6 crore in Altra Pharma-Chem through subscription to equity shares, making both companies its subsidiaries. Matangi Rubber Ltd has also received Sebi's observations for its proposed IPO, according to the regulator's latest data. The approval comes amid sustained activity in the primary market. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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