Upcoming IPOs: 5 Companies Set to Launch IPOs After SEBI Clearance

Synopsis: India’s IPO pipeline is gaining momentum as five companies, including SBI Mutual Fund, AGS Health, and others, have received SEBI approval to launch public issues, collectively targeting billions in fresh capital and shareholder exits.

India’s primary market pipeline continues to strengthen, with companies from diverse sectors including asset management, healthcare technology, glass packaging, stockbroking, and IT services securing regulatory approval to launch their public offerings.

The upcoming IPOs reflect strong fundraising activity across industries, as firms seek capital for expansion, working capital needs, product development, acquisitions, and shareholder exits amid sustained investor interest in the equity markets.

SBI Mutual Fund IPO

SBI Mutual Fund, India’s largest fund house, has received SEBI’s nod to float an IPO estimated at Rs. 13,000 crore. According to its draft red herring prospectus (DRHP), the proposed public issue is entirely an Offer for Sale (OFS) of up to 20.37 crore shares by its promoters, State Bank of India (SBI) and Amundi India Holding. The public issue is expected to hit the market next month, joining other listed asset management peers like HDFC AMC, ICICI Prudential AMC, and Nippon Life India Asset Management.

AGS Health IPO

AGS Health, a healthcare analytics and technology company backed by Blackstone, has cleared the regulatory hurdle after filing its IPO papers confidentially. The company is expected to raise Rs. 4,500 crore through its initial share sale. SEBI issued its observations for the confidential DRHP between June 16 and June 19, effectively granting the company the green light to proceed with its launch plans.

PGP Glass IPO

PGP Glass, a global glass bottle manufacturer, is another company that utilised SEBI’s confidential pre-filing route to secure regulatory approval. The company is looking to raise approximately Rs. 4,100 crore through its initial public offering. Like AGS Health, it received SEBI’s official observations in mid-June, clearing the path for its upcoming public debut.

Shreni Shares IPO

The proposed public issue of stockbroking firm Shreni Shares will consist of a mix of both fresh equity and an exit route for existing investors. The issue comprises a fresh issue of up to 69 lakh equity shares along with an OFS of up to 82 lakh shares by its current shareholders. The company plans to deploy the net proceeds from the fresh issue toward fulfilling working capital requirements, prepaying or repaying certain borrowings, and general corporate purposes.

SRIT India IPO

IT and software solutions provider SRIT India has secured clearance for an IPO consisting entirely of a fresh issue of 1.68 crore equity shares. The capital raised from the public market will be utilised for capital-intensive needs, including modernising and redeveloping its existing products, meeting everyday working capital requirements, and pursuing inorganic growth through strategic, unidentified acquisitions.

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