Open & Upcoming IPOs

Arunaya Organics, a Gujarat-based dyes and intermediaries manufacturer, has filed its IPO prospectus to raise Rs 33.99 crore. The public issue, comprising a fresh issue of 52.6 lakh shares and an offer-for-sale of 6 lakh shares, opens on April 29 and closes on May 2, with a price band of Rs 55-58 per share. Proceeds will fund a new facility, working capital, and corporate purposes.

Ahmedabad-based Iware Supplychain Services will launch its IPO on April 28 at Rs 95 per share, closing on April 30. The company aims to raise Rs 27.13 crore, with funds allocated for constructing a new shed (Rs 14.06 crore), working capital (Rs 6.8 crore), and general corporate purposes (Rs 3.86 crore). Getfive Advisors is the lead manager, and SMC Global Securities is the market maker.

Iware Supplychain Services Limited's IPO will open on April 28 and close on April 30, with a price band of ₹95 per share. The company, a nationwide logistics provider since 2018, offers services like warehousing and transportation across states including Gujarat, Uttar Pradesh, and Delhi. The IPO consists of 28,56,000 shares to raise ₹27.13 crore for a new facility, working capital.

Vedanta Resources is considering a U.S. IPO for its Zambian unit, Konkola Copper Mines (KCM), to raise $1 billion for mine development. Advised by Barclays and Citigroup, discussions are preliminary with no timeline set. KCM holds high-grade copper and cobalt reserves, crucial for clean energy. Vedanta aims to boost copper production to 300,000 tons annually over five years.

Ather Energy's ₹2,981 crore IPO, priced at ₹304-₹321 per share, will see founders sell 19.6 lakh shares, yielding 1,422% gains. Despite being a leading EV two-wheeler brand with 11.5% market share, Ather reported a ₹1,059.7 crore loss in FY24. IPO funds will expand production and reduce debt, with shares listing on BSE and NSE.

Ather Energy's IPO opens April 28-30, priced at ₹304-321 per share. The ₹2,626 crore fresh issue and 1.1 crore OFS will fund a Maharashtra plant, R&D, marketing, and debt. Hero MotoCorp holds 40% and isn't selling. They sold 107,983 E2Ws in FY24, with 265 experience centers in India, and others in Nepal and Sri Lanka. Listing is May 6.

The Wadhwa group plans to raise Rs 2,000-2,500 crore via IPO at a Rs 9,000 crore valuation. Funds will repay debt and finance new projects. Investment banks ICICI Securities, JM Financial, and DAM Capital are involved. The move follows recent Mumbai real estate IPOs by Lodha (Rs 2,500 crore), Rustomjee (Rs 635 crore), Arkade (Rs 410 crore), and Suraj Estate (Rs 400 crore).

LG Electronics Inc has paused work on the initial public offering of its Indian unit amid market volatility, with considerations ongoing and no final decision made. The IPO, potentially valued between $10.5 billion and $11.5 billion, down from earlier expectations of up to $15 billion, may resume if market conditions improve.

The Tankup Engineers IPO, priced at ₹133-₹140 per share, opened on April 23 and closes on April 25. The company offers vehicle superstructures for sectors like agriculture and aviation. Subscription stood at 31% on day one, with retail at 59% and NII at 12%. Funds raised (₹19.53 crore) will cover loans, working capital, and corporate needs.

Ather Energy, an electric two-wheeler maker, has reduced its IPO size to Rs 2,626 crore from Rs 3,100 crore due to market volatility. The offer for sale is halved to 11 million shares. The IPO, opening April 28, will fund a Maharashtra plant, R&D, debt repayment, and marketing. Despite cautious investor sentiment, Ather reported a 28% revenue rise and 11.39% market share in FY25.

Ather Energy's IPO price band is set at ₹304-₹321 per share, with subscription from April 28-30. The company, a Bengaluru-based electric two-wheeler manufacturer, aims to raise ₹2,626 crore via fresh issue and OFS. Funds will support a new facility, R&D, marketing, and debt. Listing is expected on May 6.

Ather Energy has filed its draft red herring prospectus (RHP) with SEBI for an IPO to raise Rs 2,626 crore, targeting a pre-money valuation of Rs 9,900-10,000 crore. The IPO includes a fresh issue and an offer for sale (OFS) of 11,051,746 shares. Promoters and investors like NIIF and Tiger Global will sell stakes, but Hero MotoCorp, holding 37%, will not participate.

The Indian IPO market in 2025 has started slowly, with only one SME issue, Tankup Engineers, scheduled this week. Despite a pipeline of 144 companies with proposed IPOs worth Rs 1.47 lakh crore, fundraising dropped 37% in early 2025. Major names like PhonePe, Tata Capital, and Reliance Jio are preparing for listings, with Jio potentially raising Rs 40,000 crore.

LG Electronics India plans to file an updated DRHP for its ₹15,000 crore IPO with SEBI in early May 2025, aiming to list by May-end. The IPO, an offer for sale of up to 10.18 crore shares, may see a lower valuation of ₹10,500-11,500 crore due to market conditions. The company reported ₹21,352 crore revenue in FY24, up 7.5% YoY, with a net profit of ₹1,151.07 crore.

SEBI Chairman, Tuhin Kanta Pandey, has said that the market regultor is currently reviewing NSE’s IPO proposal. According to Pandey, SEBI’s internal committee will examine NSE’s responses to the concerns previously raised by the regulator. On March 28, NSE filed an application with SEBI seeking a No Objection Certificate (NOC) for its IPO.

India’s IPO market has slowed significantly, with 144 companies, including 67 awaiting SEBI approval, delaying IPOs worth ₹1.47 lakh crore. January-February 2025 saw a 37% drop in IPO funds raised, and March had none. High-profile firms like Ather Energy and Urban Company have scaled back plans due to valuation concerns and market volatility.

Prestige Group plans a Rs 4,000 crore IPO for its hotels business, using funds for new developments and debt reduction. The company is working with four investment banks and aims to file the DRHP soon. This move comes amid strong investor interest in hospitality, with several recent successful IPOs in the sector.

The National Stock Exchange (NSE) has signed an MoU with the Uttar Pradesh government to promote awareness among MSMEs about raising funds through IPOs on the NSE Emerge platform. The initiative includes seminars and workshops to guide businesses, with 612 companies already listed, collectively raising over ₹17,003 crore.

Mumbai-based Seshaasai Technologies has received SEBI approval for its IPO, aiming to raise ₹600 crore via fresh equity shares and an offer for sale. Funds will expand manufacturing and repay loans. The company, serving the BFSI sector with payment and IoT solutions, reported a 52.21% revenue CAGR from FY22 to FY24. Listing on BSE and NSE is planned.

Aegis Vopak Terminals has secured SEBI's nod for its ₹3,500 crore IPO. India's largest third-party LPG and liquid storage firm, it plans to use proceeds to repay loans, fund the acquisition of a cryogenic LPG terminal in Mangalore, and for general corporate purposes. IPO papers were filed on November 18, 2024.

Arunaya Organics, a Gujarat-based dyes and intermediaries manufacturer, has filed its IPO prospectus to raise Rs 33.99 crore. The public issue, comprising a fresh issue of 52.6 lakh shares and an offer-for-sale of 6 lakh shares, opens on April 29 and closes on May 2, with a price band of Rs 55-58 per share. Proceeds will fund a new facility, working capital, and corporate purposes.

Ahmedabad-based Iware Supplychain Services will launch its IPO on April 28 at Rs 95 per share, closing on April 30. The company aims to raise Rs 27.13 crore, with funds allocated for constructing a new shed (Rs 14.06 crore), working capital (Rs 6.8 crore), and general corporate purposes (Rs 3.86 crore). Getfive Advisors is the lead manager, and SMC Global Securities is the market maker.

Iware Supplychain Services Limited's IPO will open on April 28 and close on April 30, with a price band of ₹95 per share. The company, a nationwide logistics provider since 2018, offers services like warehousing and transportation across states including Gujarat, Uttar Pradesh, and Delhi. The IPO consists of 28,56,000 shares to raise ₹27.13 crore for a new facility, working capital.

Vedanta Resources is considering a U.S. IPO for its Zambian unit, Konkola Copper Mines (KCM), to raise $1 billion for mine development. Advised by Barclays and Citigroup, discussions are preliminary with no timeline set. KCM holds high-grade copper and cobalt reserves, crucial for clean energy. Vedanta aims to boost copper production to 300,000 tons annually over five years.

Ather Energy's ₹2,981 crore IPO, priced at ₹304-₹321 per share, will see founders sell 19.6 lakh shares, yielding 1,422% gains. Despite being a leading EV two-wheeler brand with 11.5% market share, Ather reported a ₹1,059.7 crore loss in FY24. IPO funds will expand production and reduce debt, with shares listing on BSE and NSE.

Ather Energy's IPO opens April 28-30, priced at ₹304-321 per share. The ₹2,626 crore fresh issue and 1.1 crore OFS will fund a Maharashtra plant, R&D, marketing, and debt. Hero MotoCorp holds 40% and isn't selling. They sold 107,983 E2Ws in FY24, with 265 experience centers in India, and others in Nepal and Sri Lanka. Listing is May 6.

The Wadhwa group plans to raise Rs 2,000-2,500 crore via IPO at a Rs 9,000 crore valuation. Funds will repay debt and finance new projects. Investment banks ICICI Securities, JM Financial, and DAM Capital are involved. The move follows recent Mumbai real estate IPOs by Lodha (Rs 2,500 crore), Rustomjee (Rs 635 crore), Arkade (Rs 410 crore), and Suraj Estate (Rs 400 crore).

LG Electronics Inc has paused work on the initial public offering of its Indian unit amid market volatility, with considerations ongoing and no final decision made. The IPO, potentially valued between $10.5 billion and $11.5 billion, down from earlier expectations of up to $15 billion, may resume if market conditions improve.

The Tankup Engineers IPO, priced at ₹133-₹140 per share, opened on April 23 and closes on April 25. The company offers vehicle superstructures for sectors like agriculture and aviation. Subscription stood at 31% on day one, with retail at 59% and NII at 12%. Funds raised (₹19.53 crore) will cover loans, working capital, and corporate needs.

Ather Energy, an electric two-wheeler maker, has reduced its IPO size to Rs 2,626 crore from Rs 3,100 crore due to market volatility. The offer for sale is halved to 11 million shares. The IPO, opening April 28, will fund a Maharashtra plant, R&D, debt repayment, and marketing. Despite cautious investor sentiment, Ather reported a 28% revenue rise and 11.39% market share in FY25.

Ather Energy's IPO price band is set at ₹304-₹321 per share, with subscription from April 28-30. The company, a Bengaluru-based electric two-wheeler manufacturer, aims to raise ₹2,626 crore via fresh issue and OFS. Funds will support a new facility, R&D, marketing, and debt. Listing is expected on May 6.

Ather Energy has filed its draft red herring prospectus (RHP) with SEBI for an IPO to raise Rs 2,626 crore, targeting a pre-money valuation of Rs 9,900-10,000 crore. The IPO includes a fresh issue and an offer for sale (OFS) of 11,051,746 shares. Promoters and investors like NIIF and Tiger Global will sell stakes, but Hero MotoCorp, holding 37%, will not participate.

The Indian IPO market in 2025 has started slowly, with only one SME issue, Tankup Engineers, scheduled this week. Despite a pipeline of 144 companies with proposed IPOs worth Rs 1.47 lakh crore, fundraising dropped 37% in early 2025. Major names like PhonePe, Tata Capital, and Reliance Jio are preparing for listings, with Jio potentially raising Rs 40,000 crore.

LG Electronics India plans to file an updated DRHP for its ₹15,000 crore IPO with SEBI in early May 2025, aiming to list by May-end. The IPO, an offer for sale of up to 10.18 crore shares, may see a lower valuation of ₹10,500-11,500 crore due to market conditions. The company reported ₹21,352 crore revenue in FY24, up 7.5% YoY, with a net profit of ₹1,151.07 crore.

SEBI Chairman, Tuhin Kanta Pandey, has said that the market regultor is currently reviewing NSE’s IPO proposal. According to Pandey, SEBI’s internal committee will examine NSE’s responses to the concerns previously raised by the regulator. On March 28, NSE filed an application with SEBI seeking a No Objection Certificate (NOC) for its IPO.

India’s IPO market has slowed significantly, with 144 companies, including 67 awaiting SEBI approval, delaying IPOs worth ₹1.47 lakh crore. January-February 2025 saw a 37% drop in IPO funds raised, and March had none. High-profile firms like Ather Energy and Urban Company have scaled back plans due to valuation concerns and market volatility.

Prestige Group plans a Rs 4,000 crore IPO for its hotels business, using funds for new developments and debt reduction. The company is working with four investment banks and aims to file the DRHP soon. This move comes amid strong investor interest in hospitality, with several recent successful IPOs in the sector.

The National Stock Exchange (NSE) has signed an MoU with the Uttar Pradesh government to promote awareness among MSMEs about raising funds through IPOs on the NSE Emerge platform. The initiative includes seminars and workshops to guide businesses, with 612 companies already listed, collectively raising over ₹17,003 crore.

Mumbai-based Seshaasai Technologies has received SEBI approval for its IPO, aiming to raise ₹600 crore via fresh equity shares and an offer for sale. Funds will expand manufacturing and repay loans. The company, serving the BFSI sector with payment and IoT solutions, reported a 52.21% revenue CAGR from FY22 to FY24. Listing on BSE and NSE is planned.

Aegis Vopak Terminals has secured SEBI's nod for its ₹3,500 crore IPO. India's largest third-party LPG and liquid storage firm, it plans to use proceeds to repay loans, fund the acquisition of a cryogenic LPG terminal in Mangalore, and for general corporate purposes. IPO papers were filed on November 18, 2024.

Inox Green Energy Services' shares surged 20% on April 15 after reports that Inox Clean Energy plans a Rs 5,000-crore IPO via SEBI's confidential route. The IPO, managed by five bankers, could be one of India's largest in renewable energy. Inox Green reported a 1.95% increase in net sales and a significant rise in net profit and EBITDA.

India's IPO market is paused this week for the first time since January 2024, due to global uncertainties and market corrections. However, major IPOs are upcoming, including Reliance Jio's Rs 40,000 crore, Tata Capital's Rs 15,000 crore, PhonePe's $15 billion, Ather Energy's Rs 3,100 crore, and LG Electronics India's Rs 15,000 crore, signaling a potential rebound.

MoEngage, a SaaS firm, is considering relocating its headquarters from San Francisco to India to tap into the booming IPO market. The company, which has raised over $180 million, joins a growing trend of Indian SaaS startups shifting their legal base to India for easier access to capital and IPO opportunities.

The global and Indian IPO markets are struggling due to Trump's tariffs and market volatility, with 144 draft IPOs worth Rs. 1.47 lakh crores pending in India. Experts anticipate a wait-and-watch approach, expecting recovery if market conditions stabilize, with fair pricing needed to revive activity.

The Middle East, despite facing challenges from market volatility and falling oil prices, remains optimistic about its IPO pipeline. Bankers expect deal activity to resume soon, with companies in Saudi Arabia and Kuwait leading the way. EFG Hermes and JPMorgan report no significant delays, though investors remain cautious amid global economic uncertainty and oil price concerns.

hBits, a fractional commercial real estate investment platform, has received SEBI approval to launch its Small & Medium Real Estate Investment Trust (SM-REIT) IPO, aiming to raise Rs 400-500 crore by June 2025. The company will migrate its existing portfolio into the SM-REIT structure and targets Assets Under Management (AUM) of Rs 2,000 crore by March 2026.

Anthem Biosciences Limited has received SEBI approval for its IPO, which involves an offer for sale of up to ₹3,395 crore by promoters, investors, and shareholders. The Bengaluru-based firm reported a 34.3% revenue increase to ₹1,419 crore in FY24, with a profit of ₹367 crore. It provides CRDMO services and produces specialty ingredients and APIs.

Ather Energy has revised its IPO expectations, targeting a post-money valuation of around ₹12,800 crore, down from ₹14,000 crore. The IPO size is scaled down to ₹2,900-3,200 crore due to market conditions. It includes fresh shares and OFS, with promoters and early investors diluting stakes. Hero MotoCorp, holding over 37%, won't sell shares.

Delhivery shares dropped 5% on Wednesday, extending a two-day decline to 11%, following its announcement to acquire Ecom Express for up to ₹1,407 crore, gaining a 99.4% stake. The combined entity will hold 55-60% of India’s B2C express logistics market, with significant cost synergies expected. SoftBank exits at a lower valuation, marking another subdued exit in India.

Vishal Mega Mart received coverage initiations from Jefferies and Bernstein. Jefferies set a 'Buy' rating with a ₹125 target, seeing 20% upside, strong Tier-2 presence, and 27% CAGR. Bernstein issued an 'Underperform' with a ₹90 target, citing margin risks. Shares closed at ₹104.50, near its post-IPO high of ₹126.87. Seven analysts rate it 'Buy,' one 'Hold,' and one 'Sell.'

Private equity firm True North, venture capital firm Accel, and nine other alternative investment firms will monetize their investments as three of their portfolio companies have received SEBI approval to launch initial public offerings (IPOs). This regulatory nod allows the firms to realize returns on their investments through successful public listings.

SEBI has approved the IPO plans of four companies: Aye Finance, BlueStone Jewellery and Lifestyle, GK Energy, and Anthem Biosciences. Observation letters were issued on April 3 for Aye Finance, GK Energy, and Anthem Biosciences, and on April 1 for BlueStone, allowing them to launch their IPOs within the next year.

Gurugram-based Aye Finance Ltd., an NBFC catering to micro, small, and medium enterprises, has received SEBI approval for its ₹1,450 crore IPO. The offering includes a fresh issue of ₹885 crore and an offer for sale of ₹565 crore. Proceeds will strengthen the company's capital base for growth. Aye Finance reported a 291.5% rise in profit to ₹171.7 crore in FY24, with a 0.9% Net NPA.

Bengaluru-based iD Fresh Food is raising ₹500 crore via a secondary share sale to facilitate exits for early investors, including Premji Invest. The company, valued at ₹2,200 crore, aims to streamline its capital structure ahead of an IPO by FY27. It reported ₹620 crore in revenue and turned profitable in FY24, with plans to expand internationally and double its business in three years.

Vishal Fabrics’ 2014 IPO has yielded significant returns for investors due to corporate actions like stock splits and bonus shares. An initial investment of ₹1.35 lakh has grown to ₹7.80 lakh as of April 8, driven by a stock split in 2017 and bonus issues in 2020 and 2022, increasing the share count from 3,000 to 27,000.

Shares of IT-enabled services firm Infonative Solutions had a weak listing on the BSE SME on Tuesday, following the conclusion of its initial public offering (IPO). The stock listed at ₹63.20 per share, reflecting a 20 per cent discount—or ₹15.20 lower—than its issue price of ₹79. Infonative Solutions stock fell over 5 per cent to ₹60.04 immediately after the listing due to selling pressure.

Spinaroo Commercial shares debuted positively on BSE SME, opening at ₹52.85, a 3.63% rise from the ₹51 issue price. The IPO, subscribed from March 28 to April 3, raised ₹10.17 crore for working capital and corporate expenses. The company produces aluminum and paper products and machinery, operating without direct listed competitors. Grey market premium was ₹0.

The stock market downturn, triggered by US President Donald Trump’s tariffs, may delay IPO plans for new-age Indian companies. Founders and investors anticipate shifting public sentiment toward safer assets, with companies like Bluestone, Ather Energy, and PhysicsWallah already filing draft papers. Profitable firms may still perform well, but at lower valuations, while others may defer listings.

Spinaroo Commercial's Rs 11 crore IPO, listing on BSE SME, saw marginal response with GMP at 0% over Rs 51 issue price. The company, manufacturing aluminum foil and paper products, will use funds for working capital. It operates two ISO-certified units in Kolkata, serving clients across 12 states and 2 UTs, emphasizing quality and affordability.

Infonative Solutions will list on the BSE SME platform today, with its IPO subscribed over 4 times at Rs 79 per share. Funds will support product development, LMS enhancements, and working capital. The company, growing since 2014, offers tailored e-learning solutions to global clients, including Fortune 500 firms and big consultancies, leveraging advanced technologies like AR/VR and gamification.

Arunaya Organics, a Gujarat-based dyes and intermediaries manufacturer, has filed its IPO prospectus to raise Rs 33.99 crore. The public issue, comprising a fresh issue of 52.6 lakh shares and an offer-for-sale of 6 lakh shares, opens on April 29 and closes on May 2, with a price band of Rs 55-58 per share. Proceeds will fund a new facility, working capital, and corporate purposes.

Ahmedabad-based Iware Supplychain Services will launch its IPO on April 28 at Rs 95 per share, closing on April 30. The company aims to raise Rs 27.13 crore, with funds allocated for constructing a new shed (Rs 14.06 crore), working capital (Rs 6.8 crore), and general corporate purposes (Rs 3.86 crore). Getfive Advisors is the lead manager, and SMC Global Securities is the market maker.

Iware Supplychain Services Limited's IPO will open on April 28 and close on April 30, with a price band of ₹95 per share. The company, a nationwide logistics provider since 2018, offers services like warehousing and transportation across states including Gujarat, Uttar Pradesh, and Delhi. The IPO consists of 28,56,000 shares to raise ₹27.13 crore for a new facility, working capital.

Vedanta Resources is considering a U.S. IPO for its Zambian unit, Konkola Copper Mines (KCM), to raise $1 billion for mine development. Advised by Barclays and Citigroup, discussions are preliminary with no timeline set. KCM holds high-grade copper and cobalt reserves, crucial for clean energy. Vedanta aims to boost copper production to 300,000 tons annually over five years.

Ather Energy's ₹2,981 crore IPO, priced at ₹304-₹321 per share, will see founders sell 19.6 lakh shares, yielding 1,422% gains. Despite being a leading EV two-wheeler brand with 11.5% market share, Ather reported a ₹1,059.7 crore loss in FY24. IPO funds will expand production and reduce debt, with shares listing on BSE and NSE.

Ather Energy's IPO opens April 28-30, priced at ₹304-321 per share. The ₹2,626 crore fresh issue and 1.1 crore OFS will fund a Maharashtra plant, R&D, marketing, and debt. Hero MotoCorp holds 40% and isn't selling. They sold 107,983 E2Ws in FY24, with 265 experience centers in India, and others in Nepal and Sri Lanka. Listing is May 6.

The Wadhwa group plans to raise Rs 2,000-2,500 crore via IPO at a Rs 9,000 crore valuation. Funds will repay debt and finance new projects. Investment banks ICICI Securities, JM Financial, and DAM Capital are involved. The move follows recent Mumbai real estate IPOs by Lodha (Rs 2,500 crore), Rustomjee (Rs 635 crore), Arkade (Rs 410 crore), and Suraj Estate (Rs 400 crore).

LG Electronics Inc has paused work on the initial public offering of its Indian unit amid market volatility, with considerations ongoing and no final decision made. The IPO, potentially valued between $10.5 billion and $11.5 billion, down from earlier expectations of up to $15 billion, may resume if market conditions improve.

The Tankup Engineers IPO, priced at ₹133-₹140 per share, opened on April 23 and closes on April 25. The company offers vehicle superstructures for sectors like agriculture and aviation. Subscription stood at 31% on day one, with retail at 59% and NII at 12%. Funds raised (₹19.53 crore) will cover loans, working capital, and corporate needs.

Ather Energy, an electric two-wheeler maker, has reduced its IPO size to Rs 2,626 crore from Rs 3,100 crore due to market volatility. The offer for sale is halved to 11 million shares. The IPO, opening April 28, will fund a Maharashtra plant, R&D, debt repayment, and marketing. Despite cautious investor sentiment, Ather reported a 28% revenue rise and 11.39% market share in FY25.

Ather Energy's IPO price band is set at ₹304-₹321 per share, with subscription from April 28-30. The company, a Bengaluru-based electric two-wheeler manufacturer, aims to raise ₹2,626 crore via fresh issue and OFS. Funds will support a new facility, R&D, marketing, and debt. Listing is expected on May 6.

Ather Energy has filed its draft red herring prospectus (RHP) with SEBI for an IPO to raise Rs 2,626 crore, targeting a pre-money valuation of Rs 9,900-10,000 crore. The IPO includes a fresh issue and an offer for sale (OFS) of 11,051,746 shares. Promoters and investors like NIIF and Tiger Global will sell stakes, but Hero MotoCorp, holding 37%, will not participate.

The Indian IPO market in 2025 has started slowly, with only one SME issue, Tankup Engineers, scheduled this week. Despite a pipeline of 144 companies with proposed IPOs worth Rs 1.47 lakh crore, fundraising dropped 37% in early 2025. Major names like PhonePe, Tata Capital, and Reliance Jio are preparing for listings, with Jio potentially raising Rs 40,000 crore.

LG Electronics India plans to file an updated DRHP for its ₹15,000 crore IPO with SEBI in early May 2025, aiming to list by May-end. The IPO, an offer for sale of up to 10.18 crore shares, may see a lower valuation of ₹10,500-11,500 crore due to market conditions. The company reported ₹21,352 crore revenue in FY24, up 7.5% YoY, with a net profit of ₹1,151.07 crore.

SEBI Chairman, Tuhin Kanta Pandey, has said that the market regultor is currently reviewing NSE’s IPO proposal. According to Pandey, SEBI’s internal committee will examine NSE’s responses to the concerns previously raised by the regulator. On March 28, NSE filed an application with SEBI seeking a No Objection Certificate (NOC) for its IPO.

India’s IPO market has slowed significantly, with 144 companies, including 67 awaiting SEBI approval, delaying IPOs worth ₹1.47 lakh crore. January-February 2025 saw a 37% drop in IPO funds raised, and March had none. High-profile firms like Ather Energy and Urban Company have scaled back plans due to valuation concerns and market volatility.

Prestige Group plans a Rs 4,000 crore IPO for its hotels business, using funds for new developments and debt reduction. The company is working with four investment banks and aims to file the DRHP soon. This move comes amid strong investor interest in hospitality, with several recent successful IPOs in the sector.

The National Stock Exchange (NSE) has signed an MoU with the Uttar Pradesh government to promote awareness among MSMEs about raising funds through IPOs on the NSE Emerge platform. The initiative includes seminars and workshops to guide businesses, with 612 companies already listed, collectively raising over ₹17,003 crore.

Mumbai-based Seshaasai Technologies has received SEBI approval for its IPO, aiming to raise ₹600 crore via fresh equity shares and an offer for sale. Funds will expand manufacturing and repay loans. The company, serving the BFSI sector with payment and IoT solutions, reported a 52.21% revenue CAGR from FY22 to FY24. Listing on BSE and NSE is planned.

Aegis Vopak Terminals has secured SEBI's nod for its ₹3,500 crore IPO. India's largest third-party LPG and liquid storage firm, it plans to use proceeds to repay loans, fund the acquisition of a cryogenic LPG terminal in Mangalore, and for general corporate purposes. IPO papers were filed on November 18, 2024.

Inox Green Energy Services' shares surged 20% on April 15 after reports that Inox Clean Energy plans a Rs 5,000-crore IPO via SEBI's confidential route. The IPO, managed by five bankers, could be one of India's largest in renewable energy. Inox Green reported a 1.95% increase in net sales and a significant rise in net profit and EBITDA.

India's IPO market is paused this week for the first time since January 2024, due to global uncertainties and market corrections. However, major IPOs are upcoming, including Reliance Jio's Rs 40,000 crore, Tata Capital's Rs 15,000 crore, PhonePe's $15 billion, Ather Energy's Rs 3,100 crore, and LG Electronics India's Rs 15,000 crore, signaling a potential rebound.

MoEngage, a SaaS firm, is considering relocating its headquarters from San Francisco to India to tap into the booming IPO market. The company, which has raised over $180 million, joins a growing trend of Indian SaaS startups shifting their legal base to India for easier access to capital and IPO opportunities.

The global and Indian IPO markets are struggling due to Trump's tariffs and market volatility, with 144 draft IPOs worth Rs. 1.47 lakh crores pending in India. Experts anticipate a wait-and-watch approach, expecting recovery if market conditions stabilize, with fair pricing needed to revive activity.

The Middle East, despite facing challenges from market volatility and falling oil prices, remains optimistic about its IPO pipeline. Bankers expect deal activity to resume soon, with companies in Saudi Arabia and Kuwait leading the way. EFG Hermes and JPMorgan report no significant delays, though investors remain cautious amid global economic uncertainty and oil price concerns.

hBits, a fractional commercial real estate investment platform, has received SEBI approval to launch its Small & Medium Real Estate Investment Trust (SM-REIT) IPO, aiming to raise Rs 400-500 crore by June 2025. The company will migrate its existing portfolio into the SM-REIT structure and targets Assets Under Management (AUM) of Rs 2,000 crore by March 2026.

Anthem Biosciences Limited has received SEBI approval for its IPO, which involves an offer for sale of up to ₹3,395 crore by promoters, investors, and shareholders. The Bengaluru-based firm reported a 34.3% revenue increase to ₹1,419 crore in FY24, with a profit of ₹367 crore. It provides CRDMO services and produces specialty ingredients and APIs.

Ather Energy has revised its IPO expectations, targeting a post-money valuation of around ₹12,800 crore, down from ₹14,000 crore. The IPO size is scaled down to ₹2,900-3,200 crore due to market conditions. It includes fresh shares and OFS, with promoters and early investors diluting stakes. Hero MotoCorp, holding over 37%, won't sell shares.

Delhivery shares dropped 5% on Wednesday, extending a two-day decline to 11%, following its announcement to acquire Ecom Express for up to ₹1,407 crore, gaining a 99.4% stake. The combined entity will hold 55-60% of India’s B2C express logistics market, with significant cost synergies expected. SoftBank exits at a lower valuation, marking another subdued exit in India.

Vishal Mega Mart received coverage initiations from Jefferies and Bernstein. Jefferies set a 'Buy' rating with a ₹125 target, seeing 20% upside, strong Tier-2 presence, and 27% CAGR. Bernstein issued an 'Underperform' with a ₹90 target, citing margin risks. Shares closed at ₹104.50, near its post-IPO high of ₹126.87. Seven analysts rate it 'Buy,' one 'Hold,' and one 'Sell.'

Private equity firm True North, venture capital firm Accel, and nine other alternative investment firms will monetize their investments as three of their portfolio companies have received SEBI approval to launch initial public offerings (IPOs). This regulatory nod allows the firms to realize returns on their investments through successful public listings.

SEBI has approved the IPO plans of four companies: Aye Finance, BlueStone Jewellery and Lifestyle, GK Energy, and Anthem Biosciences. Observation letters were issued on April 3 for Aye Finance, GK Energy, and Anthem Biosciences, and on April 1 for BlueStone, allowing them to launch their IPOs within the next year.

Gurugram-based Aye Finance Ltd., an NBFC catering to micro, small, and medium enterprises, has received SEBI approval for its ₹1,450 crore IPO. The offering includes a fresh issue of ₹885 crore and an offer for sale of ₹565 crore. Proceeds will strengthen the company's capital base for growth. Aye Finance reported a 291.5% rise in profit to ₹171.7 crore in FY24, with a 0.9% Net NPA.

Bengaluru-based iD Fresh Food is raising ₹500 crore via a secondary share sale to facilitate exits for early investors, including Premji Invest. The company, valued at ₹2,200 crore, aims to streamline its capital structure ahead of an IPO by FY27. It reported ₹620 crore in revenue and turned profitable in FY24, with plans to expand internationally and double its business in three years.

Vishal Fabrics’ 2014 IPO has yielded significant returns for investors due to corporate actions like stock splits and bonus shares. An initial investment of ₹1.35 lakh has grown to ₹7.80 lakh as of April 8, driven by a stock split in 2017 and bonus issues in 2020 and 2022, increasing the share count from 3,000 to 27,000.

Shares of IT-enabled services firm Infonative Solutions had a weak listing on the BSE SME on Tuesday, following the conclusion of its initial public offering (IPO). The stock listed at ₹63.20 per share, reflecting a 20 per cent discount—or ₹15.20 lower—than its issue price of ₹79. Infonative Solutions stock fell over 5 per cent to ₹60.04 immediately after the listing due to selling pressure.

Spinaroo Commercial shares debuted positively on BSE SME, opening at ₹52.85, a 3.63% rise from the ₹51 issue price. The IPO, subscribed from March 28 to April 3, raised ₹10.17 crore for working capital and corporate expenses. The company produces aluminum and paper products and machinery, operating without direct listed competitors. Grey market premium was ₹0.

The stock market downturn, triggered by US President Donald Trump’s tariffs, may delay IPO plans for new-age Indian companies. Founders and investors anticipate shifting public sentiment toward safer assets, with companies like Bluestone, Ather Energy, and PhysicsWallah already filing draft papers. Profitable firms may still perform well, but at lower valuations, while others may defer listings.

Spinaroo Commercial's Rs 11 crore IPO, listing on BSE SME, saw marginal response with GMP at 0% over Rs 51 issue price. The company, manufacturing aluminum foil and paper products, will use funds for working capital. It operates two ISO-certified units in Kolkata, serving clients across 12 states and 2 UTs, emphasizing quality and affordability.

Infonative Solutions will list on the BSE SME platform today, with its IPO subscribed over 4 times at Rs 79 per share. Funds will support product development, LMS enhancements, and working capital. The company, growing since 2014, offers tailored e-learning solutions to global clients, including Fortune 500 firms and big consultancies, leveraging advanced technologies like AR/VR and gamification.