New Delhi, Jul 24: As many as seven companies, including edtech unicorn PhysicsWallah and solar panel maker Saatvik Green Energy, have received Sebi's go ahead to launch initial public offerings (IPO), an update with the regulator showed on Thursday.
Others that received regulatory clearance are Vinir Engineering, real estate company Pranav Constructions, roof-top solar solutions provider Fujiyama Power Systems, cash logistics solutions provider SIS Cash Services and chemical manufacturing firm Anlon Healthcare.
These companies, which filed their preliminary IPO papers between January and April, obtained Sebi's observations during July 14-18, the update showed.
In Sebi's parlance, receiving observations is equivalent to getting the approval to proceed with a public issue. Meanwhile, Gaudium IVF and Women Health, which filed its IPO documents in January, withdrew its draft papers, the update showed.
During the January-June period of 2025, as many as 24 companies mobilised Rs 45,351 crore through IPO compared to Rs 31,281 crore raised by 36 firms during the same period last year, according to data shared by merchant bankers.
Moreover, in July, at least eight companies have already launched their maiden public offerings and another five are scheduled to open in the next few days.
Going forward, the IPO market is expected to remain cautiously optimistic in the second half of 2025, supported by robust inflows of domestic investment, positive investor sentiment, and strong growth visibility, experts said.
PhysicsWallah filed its draft IPO papers in March with Sebi through a confidential pre-filing route. The confidential pre-filing route allows the company to withhold public disclosure of details under the draft red herring prospectus (DRHP).
Satvik Green Energy is aiming to raise Rs 1,150 crore through its maiden public issue. The Haryana-based company's IPO is a combination of fresh issue of shares worth Rs 850 crore and an offer for sale (OFS) component of Rs 300 crore by promoters, according to the draft papers.
Proceeds from the fresh issue will be used to pay debt, investment in its subsidiary Saatvik Solar Industries, in the form of debt or equity for payment of borrowings, for setting up of a 4 GW solar PV module manufacturing facility in Odisha, and for general corporate purposes.
The IPO of Pranav Constructions, a Mumbai-based real estate developer, involves a combination of a fresh issuance of Rs 392 crore and an OFS of 28.57 lakh shares by the promoter and an investor shareholder.
The company intends to use the proceeds from its fresh issuance worth Rs 223.75 crore towards obtaining government and statutory approvals, purchasing additional FSI (Floor Space Index), compensating members for alternate accommodation, and addressing hardship compensation for certain under-construction and upcoming redevelopment projects.
Additionally, Rs 74 crore will be used for debt repayment, acquiring future redevelopment projects, and a portion will be used for covering general corporate expenses.
Vinir Engineering's IPO is entirely an OFS of up to 5.33 crore equity shares by promoter Nitesh Gupta. Greater-Noida-based Fujiyama Power Systems' IPO is a combination of a fresh issue of equity shares worth Rs 600 crore and an OFS of 2 crore shares by promoters.
Proceeds from the fresh issue are proposed to be utilised towards financing the cost of establishing the manufacturing facility in Ratlam, Madhya Pradesh, repayment of debt, and general corporate purposes.
SIS Cash Services' IPO is a mix of fresh issue of shares worth Rs 100 crore and an OFS of 37.15 lakh shares by promoters.
The capital raised from the fresh issue to the tune of Rs 37.59 crore will be used for the purchase of cash vehicles and fabrication of the secured vehicle, Rs 29.81 crore for payment of debt and a portion will be used for general corporate purposes.
Anlon Healthcare's IPO will comprise solely of a fresh issue of 1.4 crore equity shares with no OFS component.
Proceeds from the IPO will be used for the expansion of the company's manufacturing facility, payment of debt, supporting working capital needs, and general corporate requirements. All the seven companies will be listed on the BSE and NSE.
(Disclaimer: Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)
