IPO Watchlist: 10 Companies With SEBI Approval That May Hit The Market Soon

India’s primary market could see a fresh wave of initial public offering (IPO) activity in the coming months. Nearly 120 companies have already received approval from the Securities and Exchange Board of India (SEBI) and are eligible to launch their public issues.

Timelines are not fixed, and these firms can launch their IPOs anytime during the approval window. The list includes consumer brands, manufacturing companies and financial services firms.

Key IPOs To Watch

Duroflex

Among the notable names is Duroflex, a mattress maker that got regulatory clearance earlier this year. Its planned public issue includes a fresh issue worth ₹183 crores along with an offer for sale (OFS) by existing investors. The company is expected to use the proceeds to expand its retail footprint and spend on branding and marketing.

Pride Hotels

Hospitality chain Pride Hotels is another top candidate. It is looking to raise funds for renovation work and to bring down debt levels. The offer will include both fresh shares worth ₹260 crore and an OFS by existing shareholders.

Orient Cables

Orient Cables is also in the pipeline with a mix of a fresh issue worth ₹320 crore and an OFS of shares worth ₹380 crore. The company plans to invest in capacity expansion and clear some of its borrowings.

Milky Mist Dairy Food

In the food and dairy segment, Milky Mist Dairy Foods is preparing for a sizeable IPO. The dairy player, known for its presence in paneer and cheese, intends to use the funds for debt repayment and capital spending. The public issue will comprise a fresh issue worth ₹1,785 crore and an OFS worth ₹250 crore.

Hero Motors

Auto component maker Hero Motors has also secured SEBI’s approval for an IPO. It will comprise both a fresh issue worth ₹800 crore and an OFS worth ₹400 crore. The company plans to use IPO proceedings for growth and debt reduction.

Purple Style Labs

Purple Style Labs, the parent company of Pernia's Pop-Up Shop, has received SEBI approval to launch its IPO. The issue will include a fresh issue of shares worth ₹660 crore, with no offer for sale by existing shareholders.

Other Companies In The Queue

Juniper Green Energy

Renewable energy firm Juniper Green Energy plans to raise up to ₹3,000 crore through a fresh issue. The proceeds are likely to be used for debt repayment and support for its subsidiaries.

Kent RO Systems

Water purifier brand Kent RO Systems is expected to launch a pure OFS IPO. It means that the proceeds will go to existing shareholders rather than the company.

Hero FinCorp

Financial services player Hero FinCorp is also on the list. It plans to raise capital mainly to strengthen its balance sheet and support future lending. The IPO may include a fresh issue of shares worth ₹1,790 crore and an offer for sale worth ₹1,568 crore.

Veritas Finance

Veritas Finance is another NBFC (Non-Banking Financial Company) that has received the green light. It aims to raise nearly ₹2,800 crore, comprising a fresh issue of ₹600 crore and an offer for sale of ₹2,200 crore.

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What Does This Mean For Investors?

For investors, this means more IPOs may come to the market soon. Several companies already have approvals in place and can go ahead when conditions improve.

However, timing will matter. Market mood, valuations, and business fundamentals should be looked at carefully before investing.

Sources:

The Economic Times

India IPO