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As many as eight companies across sectors such as infrastructure, mobility, healthcare, manufacturing and fitness have received regulatory approval from SEBI to launch their initial public offerings. Firms including RKCPL Ltd, Chartered Speed, Glass Wall Systems (India), Jerai Fitness, Shriram Food Industry, Tempsens Instruments, Indira IVF and Rays Of Belief have obtained SEBI's observations, clearing the way for their listings. The proposed IPOs comprise a mix of fresh equity issues and offers for sale, with proceeds earmarked for expansion, debt repayment, working capital and general corporate purposes, reflecting a broad-based revival in India's primary market activity.
India's primary market pipeline continues to strengthen, with eight companies securing approval from the Securities and Exchange Board of India (SEBI) to raise funds through initial public offerings. According to data from the market regulator, the companies received SEBI's observations between December 26 and January 2, which effectively clears them to proceed with their public issues. Advertisement
The companies include construction and infrastructure firm RKCPL Ltd, passenger mobility operator Chartered Speed, facade systems manufacturer Glass Wall Systems (India) Ltd, fitness equipment maker Jerai Fitness, Shriram Food Industry, Vadodara-based Tempsens Instruments (India) Ltd, fertility services provider Indira IVF and Rays Of Belief Ltd. These firms had filed their draft IPO papers between July and October last year.
Among the proposed issues, RKCPL's IPO is one of the largest, aiming to raise a total of Rs 1,250 crore through a fresh issue of Rs 700 crore and an offer-for-sale (OFS) of Rs 550 crore. Proceeds from the fresh issue will be used for working capital, purchase of construction equipment, repayment of debt, investment in subsidiaries and general corporate purposes.
Chartered Speed's Rs 855-crore IPO comprises a fresh issue of Rs 655 crore and an OFS of Rs 200 crore by promoters. The company plans to deploy funds for investment in electric buses, debt repayment and general corporate needs, and may also consider a pre-IPO placement.
Glass Wall Systems IPO includes a Rs 60-crore fresh issue along with an OFS of 4.02 crore shares by promoters and investors. Shriram Food Industry's offering combines a fresh issue of up to 2.12 crore shares and an OFS by promoters, while Jerai Fitness IPO is entirely an OFS, meaning the company will not receive any proceeds.
Tempsens Instruments proposed issue is a mix of a Rs 118-crore fresh issue and an OFS by promoters and other shareholders. Indira IVF and Rays Of Belief have filed their draft papers through SEBI's confidential pre-filing route, which allows companies to delay public disclosure of detailed financial information.
All eight companies plan to list their shares on the BSE and NSE, underlining renewed momentum in India's IPO market across diverse sectors.
Source - PTI
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