9 Companies File IPO Papers With SEBI Including Maharashtra Oil Extractions and Jagatjit Agri Engineering
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The latest IPO filings include multiple companies planning fresh equity issues of ₹280 crore or more, while several have also proposed offer-for-sale components. Trans ACNR Solutions has opted for SEBI’s confidential pre-filing route, keeping details of its proposed issue undisclosed for now.
Nine companies have filed preliminary IPO papers with the Securities and Exchange Board of India (SEBI), adding to the pipeline of businesses preparing to raise capital from the Indian primary market. The latest IPO filings cover companies operating across edible oils, agricultural equipment, auto components, HVAC products, brewing and renewable energy.
The latest IPO filings with SEBI include Maharashtra Oil Extractions, Jagatjit Agri Engineering, Jai Parvati Forge, Koolking Industries India, Sai Infinium, SG Encon, Mount Everest Breweries and Ultravibrant Integrated Energy. Trans ACNR Solutions has also initiated the process for a proposed mainboard IPO through SEBI's confidential pre-filing mechanism.
Among the companies that have disclosed their proposed fundraising plans, Maharashtra Oil Extractions has proposed a fresh issue of up to ₹370 crore. Jagatjit Agri Engineering, Jai Parvati Forge and Koolking Industries India have each proposed fresh issues of up to ₹300 crore, while Sai Infinium has proposed to raise up to ₹280 crore through a fresh issue.
Maharashtra Oil Extractions IPO
Maharashtra Oil Extractions has proposed a fresh issue of up to ₹370 crore along with an offer for sale (OFS) of up to 2.14 crore equity shares by its promoters.
The company operates across the soybean processing and edible oil value chain. Its product portfolio includes crude and refined edible oils, soya meal, soya flour, plant-based protein products, lecithin and speciality and industrial chemicals.
The company has manufacturing facilities in Maharashtra and is involved in soybean crushing and edible oil refining. Its proposed IPO will include both a primary fundraising component and a secondary sale by existing shareholders.
The fresh issue proceeds are proposed to be used for business requirements, including capital expenditure and working capital, according to the draft offer documents.
SEBI's public-issues database lists Maharashtra Oil Extractions' DRHP under public issues, confirming its filing in the IPO process.
Jagatjit Agri Engineering IPO
Jagatjit Agri Engineering has proposed a fresh issue of up to ₹300 crore and an offer for sale of up to 31 lakh equity shares by promoter Jagatjit Singh.
The Ludhiana-based company manufactures agricultural implements and equipment used across farming and crop-related applications.
The proposed IPO will therefore comprise both a fresh issue, through which the company will raise new capital, and an OFS through which an existing shareholder will sell shares.
Jai Parvati Forge IPO
Jai Parvati Forge has proposed a fresh issue of up to ₹300 crore along with an OFS of up to 90 lakh equity shares by promoter Suman Chauhan.
The Mohali-based company manufactures forged and machined components, including gears, shafts and other precision-engineered products.
The company has proposed raising fresh capital through the IPO while the OFS component will provide an exit route to the selling shareholder.
Koolking Industries India IPO
Koolking Industries India has filed IPO papers proposing a fresh issue of up to ₹300 crore and an OFS of up to 30.50 lakh equity shares by its promoters.
The company operates in the heating, ventilation and air-conditioning segment and manufactures and supplies HVAC-related components.
The proposed IPO will combine fresh fundraising for the company with a secondary share sale by existing shareholders.
Sai Infinium IPO
Sai Infinium, formerly known as Sai Bandhan Infinium, has proposed a fresh issue of up to ₹280 crore and an OFS of up to 1.20 crore equity shares by promoter Ishu Bansal.
The IPO structure will allow the company to raise fresh capital while also providing the promoter an opportunity to sell part of the existing holding.
Further details on the final price band, subscription dates and listing will be available closer to the launch of the public issue.
SG Encon IPO
SG Encon has proposed a fresh issue of up to 71.90 lakh equity shares and an OFS of up to 13.71 lakh shares by promoters Rajiv Gandhi and Pankaj Setia.
The proposed offer will therefore comprise both newly issued shares and shares being sold by existing promoters.
The company will be required to complete the regulatory process before the proposed IPO can proceed to the subscription stage.
Mount Everest Breweries IPO
Mount Everest Breweries has proposed a fresh issue of up to 1.15 crore equity shares.
The company operates in the beer manufacturing business and has a presence across multiple states and Union Territories in India.
The proposed IPO would raise new capital for the company through the issue of fresh shares, with the final issue size and other terms subject to regulatory and subsequent offer-document processes.
Ultravibrant Integrated Energy IPO
Ultravibrant Integrated Energy, formerly known as Ultravaibrant Solar Energy, has proposed a fresh issue of up to 1.20 crore shares and an OFS of up to 25 lakh shares by promoter Rajeshwar Singh.
The filing adds a renewable-energy company to the latest batch of businesses seeking access to the public markets.
The proposed issue will include a fresh fundraising component for the company as well as a secondary sale by the promoter.
Trans ACNR Solutions IPO
Trans ACNR Solutions has opted for SEBI's confidential pre-filing mechanism for its proposed mainboard IPO.
The confidential route allows companies to submit draft offer documents to SEBI and stock exchanges without immediately making the complete IPO details available to the public.
Consequently, the proposed issue size, price band, offer structure and other key IPO details for Trans ACNR Solutions have not been disclosed at this stage.
The company's eventual public filing and subsequent regulatory process will provide greater clarity on the proposed IPO.
What The Latest SEBI IPO Filings Mean
The latest batch of IPO filings with SEBI adds to the growing number of companies preparing to access India's primary market. The proposed issues span several industries, ranging from edible oils and agricultural equipment to engineering, HVAC, brewing and renewable energy.
The fundraising plans also differ across companies. While some are proposing large fresh issues to raise new capital, others are combining fresh issues with offers for sale by promoters or existing shareholders.
However, filing IPO papers with SEBI does not mean that an IPO is immediately ready for subscription. Companies must go through the regulatory review process and complete subsequent steps before announcing the final issue structure, price band and subscription dates.
The latest filings therefore expand the upcoming IPO pipeline, but the actual launch timelines for these companies will depend on regulatory clearances and other market and corporate processes.
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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