SEBI Approves Five New IPOs Including Veeda Clinical Research And SeedWorks International: Here’s the Details

The Securities and Exchange Board of India (SEBI) has approved the initial public offering (IPO) plans of five companies: Veeda Clinical Research, Shringar House of Mangalsutra, Rite Water Solutions, SeedWorks International, and LCC Projects. These companies can now go ahead with their IPOs within a year of receiving SEBI's observation letters.

Veeda Clinical and LCC Projects received SEBI's nod on July 3, 2025, while the approvals for the other three companies were issued on July 4, 2025.

Veeda Clinical Research:

It is based in Ahmedabad, plans to raise funds through a combination of fresh equity shares worth Rs 185 crore and an offer-for-sale (OFS) of 1.3 crore shares. It had filed its draft red herring prospectus (DRHP) with SEBI on January 31, 2025.

The company, founded in 2004, offers a wide range of clinical trial services including bioavailability and bioequivalence studies, pre-clinical testing, and large molecule analysis.

Shringar House of Mangalsutra:

The Mumbai-based jewellery company, filed its IPO papers on February 5, 2025. The public issue consists entirely of a fresh issue of 2.43 crore equity shares. The company designs and sells various types of mangalsutras made with American diamonds, cubic zirconia, pearls, and other stones set in 18k and 22k gold.

It serves customers in 24 Indian states and 4 union territories and exports to countries including the UK, USA, UAE, New Zealand, and Fiji.

Rite Water Solutions:

Headquartered in Nagpur, the company filed its IPO draft on February 10, 2025. Rite Water Solutions plans to raise Rs 745 crore through a Rs 300 crore fresh issue and an OFS of Rs 445 crore.

Rite Water provides clean-tech solutions in water management, solar agriculture, and IoT-enabled systems, especially in rural areas. It follows an asset-light business model and is backed by the Water Access Acceleration Fund from France.

SeedWorks International:

Based in Telangana, SeedWorks Interational filed its DRHP on February 11, 2025. The IPO will be a complete offer-for-sale of approximately 5.2 crore equity shares. The seed company focuses on research and development of hybrid and open-pollinated seeds for crops such as rice, cotton, vegetables, and millet.

Backed by private equity firm True North, SeedWorks was the second-fastest-growing Indian seed company by revenue between FY21 and FY24.

LCC Projects:

LCC Projects is an an engineering and infrastructure company based in Gujarat, submitted its IPO draft to SEBI on February 27, 2025. The IPO will include new shares worth Rs 320 crore and also offer 2.29 crore existing shares for sale by the promoters. The proceeds will be used mainly to purchase equipment and reduce debt.

With SEBI's approvals in place, these companies are expected to launch their IPOs soon, offering investors a variety of opportunities across different sectors like healthcare, clean technology, jewellery, agriculture, and infrastructure.