Two Indian companies have secured regulatory clearance to proceed with initial public offerings. Deepa Jewellers and Cotec Healthcare both obtained approval from the Securities and Exchange Board of India.
Deepa Jewellers, a Hyderabad-based processor of hallmarked gold jewellery, plans a Rs 250 crore fresh issue as part of its IPO. The offering also includes an offer for sale component from the company's promoters. The firm operates in the B2B segment, focusing on 22-karat gold jewellery and wholesale distribution in south India.