3 companies get Sebi’s nod for IPO

Hopefully the bank would be back into the black during this financial year itself. — Sunil Mehta, Managing Director, PNB

New Delhi: Three companies — Century Metal Recycling, Aakash Educational Services and Ami Organics — have received markets regulator Sebi’s go- ahead to float IPO. Century Metal received the regulator’s ‘ observations’ on September 27, while the other two firms obtained them on September 28, as per the latest update with Sebi. Sebi’s observations are necessary for any company to launch public issues such as IPO, follow- on public offer and rights issue. These firms had approached Sebi between June and July seeking approval to launch initial share- sales.