IPO Green Light: BCCL and Aequs Set to Go Public

In a significant move on Monday, Coal India's subsidiary Bharat Coking Coal Ltd (BCCL) and contract manufacturing firm Aequs have been granted approval by the Securities and Exchange Board of India (Sebi) for their initial public offerings (IPOs).

BCCL filed its application in June, followed by Aequs through a confidential pre-filing route. Both companies received Sebi's observations, considered a green light for a public issue, between September 18 and 19. BCCL's IPO will solely be an offer for sale of 46.5 crore shares by Coal India, without issuing new shares.

On the other hand, Aequs, known for its operations in the aerospace and consumer sectors, is set to launch a USD 200 million IPO. The company has attracted renowned investors and boasts significant operational capabilities across India, France, and the USA.

(With inputs from agencies.)