Kay Jay Forgings and Polite Powertech Receive SEBI Approval for IPOs
Two companies, auto component manufacturer Kay Jay Forgings and power infrastructure firm Polite Powertech, have received approval from SEBI to launch their Initial Public Offerings (IPOs). Kay Jay Forgings plans to raise Rs 300 crore through a fresh issue and Rs 60 crore via an offer for sale. Polite Powertech intends to use the proceeds from its IPO to meet working capital requirements and fuel business expansion. Both firms are now set to enter the public markets.
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