Nityas Gems and Jewellery, Intellius Recode Get Sebi Nod To Float IPOs

New Delhi: Two companies — Nityas Gems and Jewellery Ltd and Intellius Recode Ltd — have received Sebi approval to raise funds through initial public offerings (IPOs), according to an update with the regulator on Friday.

Under Sebi’s process, the regulator issues observations on draft offer documents, which indicate its go-ahead for companies to proceed with their public issues, subject to compliance with stipulated requirements.

Receiving Sebi’s observations is the key step before companies can launch their IPOs.

Nityas Gems and Jewellery, which filed its draft papers in March, received Sebi’s observations during the week ended July 23.

Its proposed IPO is entirely a fresh issue of 1.44 crore equity shares, with no offer for sale (OFS) component, according to the draft papers.

The company proposes to utilise the IPO proceeds towards meeting working capital requirements and for general corporate purposes.

Meanwhile, Intellius Recode received Sebi’s observations during the week ended July 24. The company had also filed its preliminary IPO papers in March.

Its proposed public issue comprises a fresh issue of equity shares aggregating up to Rs 117 crore and an offer for sale (OFS) of up to 12.9 lakh equity shares by existing shareholders, according to the draft papers.

Proceeds from the fresh issue will be used to fund the development of the company’s digital workers, payment of sub-contracting fees related to their development, and for general corporate purposes.

Intellius Recode is a technology solutions provider focused on enabling digital transformation for enterprise clients. The company offers technology consulting and artificial intelligence-led solutions, including its proprietary Agentic AI-based digital workers.

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