Arjun Jewellers, IFL Finance get Sebi nod for IPOs

Rajkot-based jewellery retailer Arjun Jewellers and New Delhi-based gold loan-focused non-banking financial company (NBFC) IFL Finance have received the approval from the capital markets regulator the Securities and Exchange Board of India (Sebi) for public issues.Arjun Jewellers’ proposed initial public offering (IPO) comprises a fresh issue of equity shares worth INR 200 crore, with no offer for sale (OFS) component. The firm sells fine diamond jewellery, servicing prominent retailers including retail stores and catalog companies.IFL Finance's proposed IPO comprises a fresh issue of 3.55 crore equity shares and an OFS of 30 lakh shares by existing shareholders.The firm plans to use the proceeds from the fresh issue to augment its Tier-I capital base to support future capital requirements, including lending activities, and meet capital adequacy norms.