Market watchdog Sebi has agreed to the IPO plans of four companies – BIBA Fashions Ltd, Keystone Realtors Ltd, Plaza Wires Ltd and Hemani Industries Ltd. According to an update on the regulator’s website on October 14, the two companies received their respective observation letters from Sebi.

In Sebi’s words, the issuance of the observation letter means that the regulator has approved the proposed IPO. Biba Fashion, an ethnic apparel fashion brand backed by Warburg Pincus and Faering Capital, filed a draft red herring prospectus (DRHP) for an initial public offering in April.

According to the draft document, the proposed IPO consists of a new share issue worth Rs 90 crore and an offer to sell (OFS) 2.77 crore shares from promoters and existing investors.

In June, Rustomjee group company Keystone Realtors filed preliminary documents to raise Rs 850 crore through an IPO. According to DRHP, it includes a new issue of up to Rs 700 crore of equity and an OFS promoter worth Rs 150 crore.

Agrochemicals maker Hemani Industries Ltd has filed a DRHP application to raise Rs 2,000 crore through its initial share sale in March. The IPO consists of the new share capital of up to Rs 5,000 crore issued by its promoters and OFS share capital worth up to Rs 1,500 crore.

Plaza Wires applied to a share sale in DRHP in May involving a newly issued 1,64,52,000 shares. The Delhi-based company is manufacturing, marketing and sells electrical wires, aluminium cables and fast-moving consumer goods.