SEBI Approves Public Offerings for Bonbloc Technologies, Milestone Gears, and Eastman Auto

Initial Public Offering (IPO) Approvals from SEBI

The Securities and Exchange Board of India (SEBI) has cleared the draft documents of three companies, paving the way for their Initial Public Offerings (IPOs).

Approved Companies:

• Bonbloc Technologies: Received approval for its IPO plans on March 5, 2024.
• Milestone Gears: Received approval for its IPO plans on March 6, 2024.
• Eastman Auto & Power: Received approval for its IPO plans on March 5, 2024, after SEBI issued observations on the draft papers on the same date.

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SEBI Observations

The issuance of observations on the preliminary papers by SEBI allows the companies to launch their IPOs within the next one year. Companies that privately file draft papers with SEBI and stock exchanges have a 18-month period to float their IPOs, subject to filing an updated DRHP with SEBI and a RHP with the Registrar of Companies.