Upcoming IPO: SEBI approves IPO of 6 companies – Check Details

Upcoming IPO

Upcoming IPOs: SEBI Approves IPOs for Six Companies – What Investors Need to Know

In a major development for the Indian capital markets, the Securities and Exchange Board of India (SEBI) has approved the Initial Public Offerings (IPOs) of six companies, signaling fresh opportunities for investors.

This marks a significant event in the IPO landscape as these companies prepare to raise funds through public listings in the coming months.

The six companies have received observation letters from SEBI between January 14-17, 2025, after filing their Draft Red Herring Prospectuses (DRHPs) with the market regulator between September and December 2024.

According to SEBI’s guidelines, these companies are required to launch their IPOs within a year of receiving the observation letter.

The companies that have received approval from SEBI to proceed with their IPOs include:

• Hexaware Technologies
• PMEA Solar Tech Solutions
• Skoda Tubes
• Ajax Engineering
• All Time Plastics
• Vikran Engineering

Here’s an in-depth look at these six companies, their IPO plans, and what potential investors need to know.

1. Hexaware Technologies IPO: A Return to the Indian Stock Market

Hexaware Technologies, a global leader in digital and technology services, is set to raise ₹9,950 crore through its IPO.

This offering will be entirely through an Offer for Sale (OFS), meaning the shares offered will be sold by existing shareholders, with no new shares being issued by the company itself.

Founded in 1990, Hexaware offers a wide array of services, focusing heavily on artificial intelligence (AI) and automation.

Its core offerings include design and build, secure and run, data and AI, optimize, and cloud services. The company caters to a variety of sectors such as banking, healthcare, insurance, and retail, making it a key player in the technology services space.

Hexaware was previously listed on the Indian stock exchanges but was delisted in 2020 after being acquired by the U.S.-based private equity firm, Baring Private Equity Asia.

The upcoming IPO marks its return to the public market, allowing investors a chance to gain exposure to a leading player in the AI-driven technology services sector.

2. PMEA Solar Tech Solutions IPO: Capitalizing on the Renewable Energy Boom

PMEA Solar Tech Solutions, based in Mumbai, is a rapidly growing player in the renewable energy sector, specializing in solar tracking and mounting products.

The company aims to raise ₹600 crore through its IPO, issuing fresh equity shares with a face value of ₹10 per share.

In addition, 11.23 million equity shares will be offered for sale by existing shareholders via the Offer for Sale (OFS) route.

The demand for solar energy solutions has been growing steadily in India, driven by the country’s commitment to expanding its renewable energy capacity. PMEA Solar Tech Solutions is well-positioned to capitalize on this trend, with its innovative products that enhance the efficiency of solar power systems.

With the global push towards green energy and sustainability, the company’s IPO offers an intriguing investment opportunity for those looking to tap into the renewable energy boom.

3. Skoda Tubes IPO: A Strong Player in Industrial Manufacturing

Skoda Tubes, a Gujarat-based company, is preparing to raise ₹275 crore through its IPO, which will be a completely new issue of shares.

The company manufactures high-quality stainless-steel tubes and pipes that are used across a diverse range of industries, including oil and gas, chemicals, pharmaceuticals, automotive, and railways.

The industrial manufacturing sector in India has witnessed strong growth in recent years, driven by infrastructural development and increasing demand for stainless-steel products.

Skoda Tubes, which has established itself as a trusted supplier in various industrial sectors, is looking to expand its operations and bolster its market share with the funds raised through the IPO.

Investors seeking exposure to the manufacturing and industrial sectors may find this IPO attractive.

4. Ajax Engineering IPO: Concrete Equipment and Infrastructure Solutions

Ajax Engineering, backed by Kedara Capital, is set to bring an IPO offering 2.28 crore equity shares via the Offer for Sale (OFS) route.

No fresh equity shares will be issued by the company, meaning that it will not raise any funds directly through the IPO. Instead, the IPO will provide an opportunity for existing shareholders to sell their stakes in the company.

Ajax Engineering is a leading manufacturer of concrete equipment, providing products, services, and solutions in the concrete application value chain.

The company has built a strong reputation in the construction and infrastructure sectors, with a diverse portfolio of products that cater to both domestic and international markets.

Despite not raising fresh capital from the IPO, Ajax Engineering’s public listing offers potential investors the chance to gain exposure to a company at the forefront of India’s construction and infrastructure boom.

5. All Time Plastics IPO: Capitalizing on Consumerware Demand

All Time Plastics, a Maharashtra-based manufacturer of consumerware products, is aiming to raise ₹350 crore through its IPO.

The company will issue fresh equity shares, while promoters will sell 52.5 lakh equity shares through the Offer for Sale (OFS) mechanism.

The company has also indicated it may consider raising an additional ₹70 crore in a pre-IPO round to further boost its capital base.

All Time Plastics produces a wide variety of consumer products, including household items, plastic goods, and storage solutions.

The company has benefited from the growing demand for affordable and durable consumerware products, which has fueled its rapid expansion.

With strong prospects in the consumer goods sector, this IPO presents a promising investment opportunity for those looking to tap into the consumer goods and manufacturing markets.

6. Vikran Engineering IPO: A Rising Star in Infrastructure Development

Vikran Engineering, based in Maharashtra, is an EPC (engineering, procurement, and construction) services provider for the power, water, and railway infrastructure sectors.

The company plans to raise ₹1,000 crore through its IPO, with ₹900 crore being raised through the issuance of new shares and ₹100 crore being sold by promoter Rakesh Ashok Markhedkar via the Offer for Sale (OFS) route.

Vikran Engineering is part of the growing infrastructure sector in India, which has seen a massive surge in investments in recent years due to the government’s focus on infrastructure development.

The company’s strong focus on power, water, and railway infrastructure positions it well to benefit from the ongoing infrastructure boom.

The upcoming IPO provides investors with an opportunity to tap into a high-growth sector with significant long-term potential.

SEBI’s Rejection of Anand Rathi IPO: A Setback for the Brokerage Firm

In a separate development, SEBI has returned the offer document for Anand Rathi Share and Stock Brokers, the brokerage arm of the Anand Rathi Group.

The company had filed draft papers in December 2024 to raise ₹745 crore through its IPO, but SEBI has not yet approved the filing.

This could delay or prevent the IPO from proceeding, and investors will need to watch for further updates on the status of the application.

Final Remarks: A Diverse Range of Opportunities

The six IPOs approved by SEBI provide investors with a diverse set of opportunities, spanning technology, renewable energy, industrial manufacturing, infrastructure, and consumer goods.

Each company brings a unique value proposition, catering to different market needs and sectors.

As always, investors should carefully assess each IPO’s potential, financials, and long-term prospects before making investment decisions.

With these IPOs slated for launch within the next year, the Indian stock market is set to witness a fresh wave of public offerings that could shape the investment landscape for the year ahead.