Nine companies that have approvals from Sebi to launch IPOs

1/10 IPO Candidates

While startups like Zomato and CarTrade are awaiting clearance from markets regulator Securities and Exchange Board of India (Sebi) to launch their initial public offerings (IPOs), there are at least nine other companies that have got the nod. According to a list of upcoming IPOs prepared by Axis Capital, nine companies have got regulatory approvals. These nine companies may launch their IPOs in the coming months.

2/10 GR Infraprojects Ltd
The integrated road EPC company got Sebi's nod for its offer for sale (OFS) of upto 11,508,704 equity shares last month. With experience in design and construction of various road/highway projects across 15 states in India, GR Infraprojects had recently diversified into projects in the railway sector.

3/10 Shriram Properties Ltd
Shriram Properties has Sebi's nod to issue equity shares worth Rs 800 crore, including a fresh issue of Rs 250 crore and OFS of Rs 550 crore. The company is among the 5 largest residential real estate companies in south India in terms of number of units launched between calendar years 2015 and 2020 across Tier-1 cities of south India, including Bengaluru and Chennai. Retail investors will have a quota of only about 10% in the proposed IPO.

4/10 Clean Science and Technology Ltd
Under the proposed IPO, Clean Science and Technology Ltd intends to launch a Rs 1,400 crore OFS. The company manufactures functionally critical specialty chemicals such as performance chemicals (i.e. MEHQ, BHA and AP), pharmaceutical intermediates (i.e. Guaiacol and DCC), and FMCG Chemicals (i.e. 4-MAP and Anisole).

5/10 Paras Defence and Space Technologies Ltd
Paras Defence and Space Technologies has got Sebi's nod to raise fresh equity of Rs 120 crore and also offload upto 1,724,490 equity shares through an OFS. Catering to the defence sector, the company is engaged in designing, developing, manufacturing and testing of a wide range of defence and space engineering products and solutions.

6/10 Glenmark Life Sciences Ltd
Glenmark Life Sciences is planning a fresh issue of equity shares aggregating upto Rs 1,160 crore and an OFS of upto 7,305,245 shares by Glenmark Pharmaceuticals Ltd. Eligible shareholders of GPL will get a reservation in the upcoming IPO. The company manufactures APIs and also provides CDMO services to pharma companies.

7/10 Utkarsh Small Finance Bank Ltd
Having got clearance from Sebi, Utkarsh Small Finance Bank may launch its IPO this month. The Rs 1,350 crore IPO involves both fresh issue of equity shares as well as an OFS by the promoter. According to a report by Axis Capital, it is one of the most profitable SFBs in India and among the leading SFBs in terms of return on assets. It had the highest return on equity among SFBs in India in fiscal 2020.

8/10 Rolex Rings Ltd.
One of the top five forging companies in India, Rolex Rings had got Sebi nod for its Rs 70 crore IPO in May. The company manufactures and supplies hot rolled forged and machined bearing rings, and automotive components for segments of vehicles including passenger vehicles, commercial vehicles, 2-Wheeler vehicles and off-highway vehicles and electric vehicles.

9/10 Arohan Financial Services Ltd.
Arohan Financial Services had got regulatory approval in April for launching a Rs 850 crore IPO. Besides an issue of fresh equity shares, five institutional shareholders also plan to sell 27,055,893 shares of the company in the IPO. One of the leading NBFC-MFI with operations in low income states, the company provides income generating loans and other financial inclusion related products to customers who have limited or no access to financial services.

10/10 Seven Islands Shipping Ltd.
Having got approval from Sebi in March, Seven Islands Shipping is yet to launch its IPO which involves a fresh issue of shares upto Rs 400 crore and an OFS of Rs 200 crore. It is the 3rd largest seaborne logistics company in India by deadweight tonnage. "They are among the few Indian shipping companies that have delivered positive net profits in each of the past 3 fiscals and their return on average equity and return on average capital employed is among the highest in the seaborne logistics industry in India," Axis Capital said.

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