Absolute Projects, Jindal Supreme secure Sebi's nod to float IPOs

Absolute Projects and Jindal Supreme have received Sebi's approval to launch their IPOs, with observations issued on July 17. Absolute Projects' IPO is a fresh issue of 2 crore equity shares with no offer-for-sale component, with proceeds earmarked for modernising Manufacturing Facility I, procuring machinery for Manufacturing Facility II, and securing equipment for Power EPC projects. Jindal Supreme's IPO includes a fresh issue of 1.07 crore equity shares and an offer-for-sale of 26.87 lakh shares by promoter VVJ Enterprise, with fresh issue proceeds planned for debt repayment.