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Mumbai: Markets regulator the Securities and Exchange Board of India (Sebi) approved the initial share sales of seven companies, including Fabindia, last week.

According to a circular issued by Sebi on Monday, the regulator has issued observation letters to companies such as Aether Industries, Syrma SGS Technology, Asianet Satellite Communications, Sanathan Textiles, Capillary Technologies, FabIndia, and Harsha Engineers International between April 25 and April 30.

Issuing observation letters effectively means giving the nod to float their IPOs.

The draft prospectus of Infinion Biopharma has been returned, while Inox Green Energy Services has withdrawn its IPO.

According to the circular, IPO papers of 49 companies are still pending with the market regulator. Seven initial papers, including Oravel Stays (Oyo Hotels), BVG India, Lava International, Tamilnad Mercantile Bank, and Aadhar Housing, have been pending for more than six months.

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