SEBI Clears 5 IPOs: From Molbio to LEAP India
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- Last Updated: 18 Dec 2025 at 10:26 PM IST
The SEBI (Securities and Exchange Board of India) has issued its final observations and given a regulatory green signal for the IPOs of five companies.
The IPO list includes diverse businesses such as Molbio Diagnostics, LEAP India, Foodlink F&B Holdings, Technocraft Ventures, and Eldorado Agritech. These approvals were granted between Nov 25 and Dec 5, and the companies are expected to launch their public issues within the next year.
The IPO approval news is positive for the primary market. However, during the same time, two notable withdrawals have also occurred. These are Inox Clean Energy and Sky Alloys and Power. The two companies have pulled back their draft papers on December 5.
Reportedly, Inox's withdrawal is strategic, following a huge ₹5,000 cr pre-IPO fundraising. The fundraising necessitated a refiling with updated financials.
This mixed bag of listing news highlights the dynamic nature of India's securities markets as companies navigate funding routes and regulatory requirements. So, an important question for the investors is: with the market touching peak volatility, can these upcoming IPOs spark market optimism?
Who Are the New IPO Contenders?
The approved companies have diverse businesses. They represent a broad spectrum of India's growth story, from healthcare and logistics to food services and agriculture. Here is more about each of the five approved IPOs.
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Molbio Diagnostics is backed by Temasek and Motilal Oswal Private Equity. This Goa-based firm is a point-of-care diagnostics leader. Its IPO includes a ₹200 cr fresh issue and an OFS (Offer for Sale) of 1.25 cr shares. The company is planning to use nearly half of the fresh proceeds i.e., ₹99.3 cr, to set up a new R&D facility and Centre of Excellence to reinforce its innovation-led growth strategy.
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LEAP India is promoted by global investment giant KKR (Kohlberg Kravis Roberts). LEAP India is operating in the supply chain solutions space. It aims to raise ₹2,400 cr, combining a ₹400 cr fresh issue with a ₹2,000 cr OFS. The company is planning to use the fresh funds mainly towards debt repayment (₹300 cr). This is a move that will strengthen its balance sheet.
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Foodlink F&B Holdings is a luxury catering and restaurant chain. This business is looking to raise funds for expansion. Its IPO comprises a ₹160 cr fresh issue and a 1.19 cr share OFS. The capital is set to fuel the setup of new centralised kitchens and casual dining restaurants under brands like China Bistro and Art of Dum, both in India and the UAE.
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Eldorado Agritech is known for its 'Srikar Seeds' brand. It is a Telangana-based company and is planning to raise ₹1,000 cr. The split includes a ₹340 cr fresh issue and a ₹660 cr OFS. The IPO proceeds are to be used for debt payment and general corporate purposes.
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Technocraft Ventures is a wastewater treatment solutions provider. Its IPO is a mix of a fresh issue of 95.05 lakh equity shares and an OFS of 23.76 lakh shares. The company is aiming to fund working capital requirements.
Why Did Inox Clean Energy Withdraw?
Another IPO story that made news was Inox Clean Energy. The withdrawal of Inox Clean Energy's IPO papers seems to be a calculated pause.
The Uttar Pradesh-based solar module manufacturer had initially filed for a massive ₹6,000 cr IPO. However, sources indicate that the company successfully raised ~₹5,000 cr in a pre-IPO funding round.
This influx of private capital seems to have changed the company's financial structure and valuation metrics. Thus, it is required to update its draft prospectus.
Therefore, the company has chosen to withdraw and is expected to refile its papers incorporating these new financials. Similarly, Sky Alloys and Power also withdrew its draft papers, though the reasons for this appear to be less clear.
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