New Delhi: As many as five companies, including fintech platform Kissht's parent OnEMI Technology Solutions and precision components maker Indo MIM, have secured Sebi approval to launch their IPOs, an update with the markets regulator showed on Friday. Besides, engineered fabric manufacturer Kusumgar, spirit maker Alcobrew Distilleries India and Aastha Spintex have received approvals from the regulator.
Together, these five companies are eyeing a fundraising of over Rs 3,000 crore through IPOs. These companies, which filed their preliminary IPO papers with Sebi between August and October, received observations between December 29 and January 8, the update showed. In regulatory parlance, receipt of observations allows companies to proceed with their public issues.
OnEMI Technology Solutions' IPO is a combination of fresh issue of shares worth Rs 1,000 crore and an offer for sale (OFS) of 88.79 lakh equity shares by existing investors, according to the draft red herring prospectus (DRHP). Proceeds from its fresh issuance will be utilised for augmenting the capital base of its subsidiary, Si Creva, to meet its future capital requirements and the rest for general corporate purposes.
Indo MIM's IPO involves a fresh issue of equity shares worth Rs 1,000 crore, along with an OFS of 12.97 crore equity shares by shareholders, draft papers showed. The company plans to utilise proceeds for debt payment, and the remaining towards general corporate purposes. Kusumgar's Rs 650 crore IPO is entirely an OFS by promoters. Since the issue is an OFS, Mumbai-based firms will not receive any proceeds from it, and the funds will go entirely to the selling shareholders.
Alcobrew Distilleries India's maiden offering involves a fresh issue aggregating up to Rs 258.26 crore and an OFS of 1.8 crore shares by a promoter, the draft papers showed. Funds raised through the fresh issue will be utilised towards funding business expansion, working capital requirements, and general corporate purposes. Aastha Spintex is aiming to raise Rs 160 solely through the fresh issue of shares with no OFS component.
The approval comes against the backdrop of a blockbuster year for the primary market. In 2025, companies raised a record nearly Rs 1.76 lakh crore through IPOs, buoyed by strong domestic liquidity, resilient investor sentiment and a supportive macroeconomic environment. This surpassed the Rs 1.6 lakh crore mobilised by 90 firms in 2024 and the Rs 49,436 crore raised by 57 companies in 2023.
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