The Securities and Exchange Board of India (SEBI) has granted approval to Nityas Gems and Jewellery and Intellius Recode to proceed with their initial public offering plans. According to reports from PTI and The Economic Times, the capital markets regulator issued its observations on the draft papers of Nityas Gems and Jewellery on July 23, 2026, while Intellius Recode received approval on July 24, 2026. Under SEBI's process, the regulator issues observations on draft offer documents, which indicate its go-ahead for companies to proceed with their public issues, subject to compliance with stipulated requirements. Receiving SEBI's observations is the key step before companies can launch their IPOs.
Surat-based diamond-studded gold jewellery maker Nityas Gems and Jewellery has approached the capital markets with an initial public offering of up to 1.44 crore equity shares, comprising entirely a fresh issue with no offer for sale (OFS) component. As reported by PTI and The Economic Times, the company intends to utilise ₹70 crore from the net proceeds towards its working capital requirements, while the remaining amount will be used for general corporate purposes. Choice Capital Advisors has been appointed as the merchant banker for the Nityas Gems and Jewellery IPO. The company filed its draft papers in March 2026 and received SEBI's observations during the week ended July 23. The company is engaged in the design, manufacturing and sale of lab-grown diamond-studded gold jewellery in India, with its product range including rings, earrings, pendants, bracelets, mangalsutras, nose pins, necklaces, cufflinks and bangles across daily wear, occasion-based, men's jewellery and customised segments.
Chennai-based technology services and digital automation solutions provider Intellius Recode is looking to raise ₹117 crore through a fresh issue of shares, along with an offer-for-sale (OFS) of 12.9 lakh equity shares. According to PTI and The Economic Times, the company had also filed its preliminary IPO papers in March 2026 and received SEBI's observations during the week ended July 24. Promoter ReCode Solutions Inc will be the selling shareholder in the offer-for-sale. The company proposes to utilise ₹43.1 crore from the fresh issue proceeds for the development of Digital Workers, ₹38.4 crore towards the payment of subcontracting fees for the development of Digital Workers, and the remaining amount for general corporate purposes. Inga Ventures will act as the book-running lead manager for the Intellius Recode IPO. Intellius Recode is a technology solutions provider focused on enabling digital transformation for enterprise clients, offering technology consulting and artificial intelligence-led solutions, including its proprietary Agentic AI-based digital workers. The company's Digital Workers help automate business processes using artificial intelligence and computer vision, positioning it in the fast-growing area of enterprise technology where companies are using automation to reduce manual work and improve productivity.
Both companies had filed their draft red herring prospectuses (DRHPs) with SEBI in March 2026, marking the beginning of their regulatory approval process. As reported by PTI and The Economic Times, the approval timeline from filing to receiving SEBI observations spans approximately four months for both companies, indicating a standard regulatory review process for IPO applications. The companies are now permitted to launch their IPOs within the next year, subject to compliance with stipulated requirements.
